Stewart’s Eric Arnold guest blogs for Worldwide ERC

The Federal Housing Administration (FHA) recently announced the end of its waiver of the FHA Anti-Flipping Rule’s 90-day resale restrictions, a law that the Department of Housing and Urban Development (HUD) adopted in 2003. This waiver had allowed investors and others to rehabilitate and resell properties to FHA-insured borrowers. This has led some lenders to take the position that relocation properties are ineligible for FHA-insured financing if the relocation company has not owned the property for the required 90-day period. Since this overlooks the longstanding exemption for relocation transactions, this blog entry attempts to clarify the exemption, the waiver, and the potential source of this confusion.

See the full blog post.

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