FHA Flipping rule | Gustancho Mortgage (Real Estate - Apartments, Houses for Rent)

Item ID 132697421 in Category: Real Estate - Apartments, Houses for Rent

FHA Flipping rule \| Gustancho Mortgage
The FHA flipping rule sets restrictions on how soon a previously sold home can be resold when using an FHA-insured mortgage. The general rule is that a property cannot be resold within 90 days of the previous purchase. This is to prevent fraudulent flipping schemes where properties are bought and quickly resold at inflated prices. The FHA requires second appraisals by a different appraiser if the resale is within 90 days. This is to ensure an accurate valuation. Violating the flipping rule will make the mortgage loan not eligible for FHA insurance. So lenders closely follow the law when underwriting FHA loans.
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Target State: All States Target City : All Cities Last Update : Sep 01, 2023 2:47 AM Number of Views: 99	Item Owner : Gustancho Mortgage Contact Email: Contact Phone: (None)

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2024-05-05 (0.446 sec)