FHA EXTENDS 'ANTI-FLIPPING WAIVER' TO SPEED SALES OF REO HOMES

The Federal Housing Administration (FHA) announced Friday that it is extending the suspension of its 'anti-flipping rule' through the remainder of 2011. FHA Commissioner David Stevens says the temporary waiver will accelerate the resale of foreclosed homes in neighborhoods that are overrun with abandoned properties and blight. The move is intended to help stabilize home values and improve conditions in communities experiencing high foreclosure activity.


http://www.dsnews.com/articles/fha-extends-anti-flipping-waiver-to-speed-sales-of-reo-homes-2011-01-28