HUD Broadens Exemption to Property Flipping Regulations
June 20, 2006
The Department of Housing and Urban Development has added new exceptions to its anti-flipping rules. Under a final rule issued early this month, properties sold by Fannie Mae and Freddie Mac will be exempt from time restriction rules governing the sale of properties. Properties sold by local and state government agencies and HUD-approved nonprofits are excluded. Properties located within presidentially designated disaster areas may be excluded upon FHA’s announcement of eligibility. …