In an effort to help ease the burden lenders who have tons of bank owned foreclosures, Federal Housing Administration (FHA) plans to remove the ninety day waiting period for resale homes and condos that were financed by FHA-guaranteed loans. This gives banks an opporunity to fix up and repair their Long Beach homes that they foreclose on and re-sell them in a move-in condition. The previous waiting period meant that the home had to be in move in condition but their is such a back log of inventory they wanted to help out.
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