FHA says: Flip that house
OtherFlippers, the real estate investors who buy homes on the cheap and quickly resell them at a profit, just got a reprieve from the Federal Housing Administration. In an effort to help stabilize housing prices and unload some of the foreclosures that are flooding low-income communities, the mortgage insurer extended a waiver of its anti-flipping regulations through 2012. The waiver, which was initially issued in 2010 and set to expire this month, suspends regulations that prohibit the agency from insuring […]