So we’ve all heard the Department of Housing and Urban Development has decided to issue a waiver on their regulations for FHA home loans regarding the 90-day ownership rule. The Waiver of Requirements of 24 CFR 203.37a(b)(2) took effect on February 1, 2010. So why is it, that a home still can’t be financed with a FHA loan if it’s been owned for less than 90 days??
I’ve provided a quick video, which explains when these new changes should take effect. There’s also some quick tips for beginning investors to be aware of for the increase in sales price.