FHA 0-90 Day Flip Waiver EXPIRING 12/31/14

Below is the notification from FHA that the 0-90 day “flip” waiver is expiring on 12/31/14.    Any contract of sale dated on and after 01/01/15 is now subject to the 91+ day “flipping” guideline.   

The seller exceptions to the flip rule remain unchanged and are listed in the product description sheet.   In addition all of the existing guidelines for 91-180 days and 181-360 days remain unchanged.

All that has changed is the 0-90 day category is no longer permitted.   The seller must have acquired title 91 or more days from when the contract of sale on the subject loan is executed, unless the seller falls under the exception category.