FHA Condo Certification Rule Awaits Review by Trump Administration
The Federal Housing Administration (FHA) recently issued its long-awaited proposed rule regarding standards for condominiums in which individual unit owners are eligible to obtain FHA-insured loans. However, final action awaits review by new housing agency officials in the Trump Administration. Mortgages backed by the FHA allow borrowers to make a lower down payment and have less stringent financial qualification criteria than conventional mortgages. Of the estimated 150,000 condominium nationwide, fewer than 10,000 are certified for FHA-insured loans. Read the article…………..
The addendum to the Federal Register and the TRID supplementary information corrects the error, which deals with the application of
If you own a home with a mortgage, you already know one type of lien: your mortgage. However, there are
An extension of the Distressed Condominium Relief Act has been approved by the legislature and is under review by Governor