FHA Regulations Aim to Stop Flipping Schemes

Posted by admin in Law and Tax

The FHA has proposed and adopted new regulations that will control illegal property flipping schemes.

Not all property flipping is a crime, but when documents are falsified, it becomes criminal fraud. In most flipping schemes, false appraisals are made and unqualified homebuyers are provided with false data. The flipper walks away with the equity, while FHA is left with a house not worth the mortgage. Read the rest of this entry »