FHA waives 90-day waiting period for resales

In an attempt to help lenders speed the process of getting real estate-owned properties off their books, the Federal Housing Administration will temporarily lift a 90-day waiting period for property resales financed by FHA-guaranteed loans.

The 90-day waiting period -- instituted in 2003 to counter predatory lending and house flipping -- never applied to properties sold by Fannie Mae, Freddie Mac, or state- and federally chartered financial institutions.

All rights reserved. This article may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this article without permission is a violation of federal copyright law.