HUD has announced that in order to help foreclosed properties be immediately marketable they will lift the 90 day flipping rule for the term of one year.
This allows properties marketed and sold by property disposition firms on behalf of lenders to be sold without the 90-day waiting period.
This does not include properties which have transferred to others in non-foreclosure transactions.
The news release is available for viewing at www.hud.gov/news/.
Monday, June 16, 2008
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