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Arizona Home Buyers can still use FHA loans on recently flipped homes. HUD has confirmed that they have extended the FHA anti-flipping waiver for another year. Homes that have been purchased less than 90 days ago and are on the market for sale are eligible for FHA financing until December 12th 2012. Just be sure to ask the seller to pay for 1 appraisal and the buyer will have to pay for one, two appraisals required for most lenders.
This anti-flipping waiver has been a big hit for Arizona home buyers, allowing them to purchase homes that were recently acquired by investors and individuals at the court steps through the foreclosure process.
If you should have any questions please feel free to contact Mike King and azmortgageinfo.
Here is the HUD release if you wish to read it.
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