HUD poised to extend investor flip waiver

Dated: December 18 2012

Views: 2274

HUD is set to extend the waiver on anti-flipping of REOs.  Put simply, that means that Investors will be allowed to flip HUD homes for another 2 years at least.  That's because the agency expects so many more REOs to hit the market, that they need all the help they can get from buyers to take them off the market in the coming 24 months.  So they are giving an incentive to investors to buy REOs, fix them up and re-sell them.  HUD says "Waiving the FHA regulation on property flipping will help stabilize neighborhoods. So if you are bidding on HUD REO homes to flip there is still light at the end of the tunnel.

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