New law to help condo buying has uncertain start (CA)

A bill passed unanimously by Congress and signed into law by Obama calls on the FHA to lower the owner occupancy requirement for condo complexes from 50 percent, which is hard to find in San Diego County, to 35 percent.  That means more condos could be bought with a 3.5 percent down loan, well below the usual 10 or 20 percent required.    Read the article…………..