FHA Waives 90-Day Prior-Sale Restriction for Some NSP Properties

摘要

The 90-day prior-sale restriction on FHA home mortgage financing has been waived for certain neighborhood stabilization program (NSP) transactions by Assistant Secretary for Housing-FHA Commissioner David H. Stevens.rnTo prevent property flipping, a home sale is generally ineligible for FHA financing if the contract is executed within 90 days of the acquisition of the property by the seller. An exception to this prohibition authorizes FHA financing for the purchase of properties from state and local agencies.