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Rob Rey
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Fannie Mae owned property , flipping rules ?

Rob Rey
Posted May 12 2009, 15:57

I looked aroung Google for rules about flipping a Fannie Mae owned property .

I know HUD has rules about buying HUD properties as a owner occupied or as an investor .

My question is , can an investor buy a Fannie Mae property , then try to flip it while holding the property for as short a period of time as possibe ?

I couldnt find any holding period requirements or preferences being give to owner occupied Fannie Mae properties ?

I know at one time Fannie Mae would not back a mortgage
on a property that was owned by the same person for less than 3 months. I think they rescinded this rule recently, thou I'm not sure about that .

So, can an investor simply buy a Fannie Mae owned property and then attempt to flip it without any holding period requirements ?

I'm thinking yes , thou not very sure with my answer.
I'm hoping someone can clarify this for me .

Thank you in advance for any info and responses .

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