HUD Proposes Rule to Crack Down on Property Flipping in FHA Mortgage Insurance Programs

Summary

The U.S. Department of Housing and Urban Development (HUD) has proposed a new rule to prevent property flipping, a practice where a property is bought and sold quickly for a significant profit, often with the help of a lender and appraiser. The proposed rule aims to protect FHA borrowers from being taken advantage of and ensures the FHA Insurance Fund remains financially stable.