As of February it will be easier to by a house that has been flipped by with an FHA loan. Over the years the FHA has been loosening it's regulations on buying bank owned, short sale, and homes repossessed by Fannie Mae, Freddie Mac, and state and federally charted financial institutions, even if they have only been owned for less than 90 days. That was not the case with private investors that bought homes and immediately put them back on the market. But, from February of 2010 to the end of January 2011, buyers will not have to rule out homes that have been put back on the market after less than 90 days of ownership, no matter who is the owner. This will encourage investors to buy bank owned and short sale homes, since so many buyers are using FHA financing, they will have a market to sell to even if they only have the property for a few weeks.
Read more here.
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