Here’s some breaking news for you guys- as of yesterday, the Gov has released the ‘No Flipping Rule’ on FHAs! Yup- that’s right!  In order to spur more buying activity and property values, they are allowing investors to purchase foreclosed homes and flip them immediately! This will be in effect for 1 year. The previous ruling from 2003 said if you purchased a foreclosed home, you had to wait 90 days before securing it with FHA financing. Not anymore- they’re trying to get the glut of inventory sucked up and off the market now.  Here’s the article from CNN.