FHA pulls rug from under resident’s retirement
Her three-bedroom condo in Talega Gallery no longer qualified for Federal Housing Administration-insured loans. As a result, she can’t get a reverse mortgage. Even more aggravating is that Talega Gallery actually does not violate the FHA rules, which ban FHA financing for condos with private “transfer fees” paid to an activities fund when a home is sold. Neighboring associations in Talega pay those fees, but Talega Gallery does not. Read the article…………….