Regulations
In 2006, the Department of Housing and Urban Development created regulations regarding predatory flipping within Federal Housing Administration (FHA) single-family mortgage insurance. The time requirement for owning a property was greater than 90 days between purchase and sale dates to qualify for FHA-insured mortgage financing. This requirement was greatly relaxed in January 2010, and the 90-day holding period was all but eliminated.
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Famous quotes containing the word regulations:
“The admission of Oriental immigrants who cannot be amalgamated with our people has been made the subject either of prohibitory clauses in our treaties and statutes or of strict administrative regulations secured by diplomatic negotiations. I sincerely hope that we may continue to minimize the evils likely to arise from such immigration without unnecessary friction and by mutual concessions between self-respecting governments.”
—William Howard Taft (1857–1930)
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