Great news for Buyers, Sellers, Brokers, Lenders, and Real Estate Investors!

Today HUD has announced that it will temporarily remove its 90-day anti-Flipping rule and will allow FHA buyers to finance properties that have been recently purchased. This should any sales including REOs, short-sales, foreclosures, rehabs, etc.

This new rule will take effect on February 1, 2010 and will continue for one year or until further notice.

This will open up a whole new window of opportunity for everyone involved in real estate! I can’t wait to see what it brings to us for 2010.

Here’s a link to the article:
http://portal.hud.gov/portal/page/portal/HUD/press/press_releases_media_advisories/2010/HUDNo.10-011