The FHA's recent temporary waiver regarding the 15-day occupancy requirement is designed to expedite rehabilitation efforts for homes impacted by hurricanes Helene and Milton.
The waivers allow properties in presidentially declared major disaster areas to qualify for the FHA's 203(k) limited mortgage program despite major repair circumstances.
The FHA emphasized that the goal of these changes is to assist homeowners in quickly rebuilding their homes after the devastating impacts of the recent hurricanes.
In addition to the 15-day rule adjustment, the FHA has altered inspection report requirements to better accommodate the timeline for properties affected by these disasters.
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