Immediate Changes Come to Condo Financing Thanks to FHA
Effective immediately, the US Department of Housing and Urban Development has loosened the rules regarding condominium financing under the the Federal Housing Administration. The FHA announced that they will be streamlining the recertification process and expanding “owner-occupied” units to encompass second homes that are not owned by investors. This change comes as welcome news to first-time and low to moderate income buyers interested in purchasing a condominium, as well as current homeowners who have been “stuck” in their condominium hoping for a qualified buyer to come along. It also benefits community associations. Read the article……………
The Colorado Springs City Council unanimously approved a construction defects ordinance on first read Tuesday, following Denver’s lead. Read the
In reference to some new roles of community association managers authorized by House Bill 7037, which became effective on July
That would seem to be self-evident, but this being South Florida, it all depends on how you define the words.