FHA anti flipping rules

[Luiz Souza]

Anyone with experience on FHA rules these days? I have a property under contract scheduled to close at of this end of this month but I just received news closing will have to be delayed due to the Feds anti flipping rules. Thoughts? Thx LS

[Chris Mason]

Originally posted by @Luiz Souza:

Anyone with experience on FHA rules these days?
I have a property under contract scheduled to close at of this end of this month but I just received news closing will have to be delayed due to the Feds anti flipping rules.

Thoughts?

Thx
LS

Don't buy flips with FHA financing. A good flipper should have known this and should have countered your offer, asking you to use FNMA HomeReady or FHLMC Home Possible for the similarly low down payment and non-applicability of the FHA anti-flip rule, or basically any financing other than FHA.