Explore Properties at Southern California: Investor Good News: FHA Extends Waiver of Anti-Flipping Rule

Good news for investor buyers of foreclosed properties that the FHA has extended temporary waiver of its "anti-flipping rule."

The original waiver was set to expire at the end of January 2011 and is now extended through the remainder of 2011.

This will allow investors who acquire foreclosed properties at below-market value to be exempted from waiting the customary 90 days before reselling "flipping" them.

The 90-day waiting period originally was put in place to protect FHA borrowers against predatory practices of flipping where properties were quickly resold at inflated prices to unsuspecting borrowers.

First-time buyers have especially responded in a positive way to the opportunity to buy "move-in ready" renovated homes with low down payments. That positive buyer response helped convince FHA to extend waiver of "anti-flipping rule".

for Professional Investors This FHA news should help stabilize real estate markets that have been hard hit with distressed homes and foreclosures.

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This is for information only and not the providing of legal or tax services. If you want to be a pro real estate investor, you should consult with a lawyer and income tax professional.

If you are interested to discuss selling, buying or investing in homes and real estate at Orange County, California, please contact me. Harrison K. Long - solutions for real estate and business - REALTOR®, GRI, broker associate, Coldwell Banker Residential Brokerage- 949-854-7747 (phone) - ExploreProperties@gmail.com (email) - CA DRE 01410855 - SFR short sale and foreclosure resource certified by the National Association of REALTORs®.