Flipping a house - there are new rules

Good news for those of you who see the great opportunities to buy an investment home!  If you are a buyer that wants to buy a foreclosed property at a huge discount, but want to turn it quickly - you now have no limitations!  The government has just suspended the property flipping rule for one year.  Someone who purchases a foreclosed property does not need to wait the 90 days before they can sell it to a buyer who is using a government backed loan.  The Federal government wants to encourage people with money to buy these bank-owned properties, fix them up, and be able to sell them to the next buyer quickly.  This is a great way to get the foreclosed properties that are hurting our neighborhoods OFF the market!  Hats off to our government for this one! 

Let me know your thoughts on this....   -Jenny