"Anti-flipping" rule is suspended at least a year by FHA

02/1/2010 | Los Angeles Times (tiered subscription model)

The Federal Housing Administration is suspending for at least the next year its "anti-flipping" rule that prohibits mortgage insurance for sellers who have owned their property for less than 90 days. The U.S. agency decided to drop the rule to help homebuyers acquire foreclosed properties with a low down payment as well as assist lenders with getting foreclosed houses sold.

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