The FHA Flip Rule is extended until December 31st, 2012. This is excellent news for first time home buyers, sellers, and especially investors.
"Flipping" the practice of buying, renovating, and re-selling property at a significant profit was discouraged by FHA. However, in the current climate these flipped homes are helping our housing market move forward.
The biggest question or concern about "flipped" homes is the value. This short FHA Flip Rule video answers the question for homes bought,renovated, and then sold in less than ninety days.
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Contact Markita Aldridge- Woods at (703) 497-3936 or via email for custom tailored mortgage solutions.
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