Condo Residents Urge FHA to Ease Rules on Reverse Mortgages

It has been nearly one month to the date since the Federal Housing Administration proposed new rules that could make it easier for condo-dwelling seniors to obtain reverse mortgages. With the public comment period underway, various stakeholders are voicing their support for the pending proposals.  The 43-page proposed rule introduced late September includes a provision that would allow individual condo units to become eligible for FHA financing even if the entire complex is not agency certified—a move that is reminiscent of the agency’s former “spot approvals” process.    Read the article………….


Related Articles

HOA HOMEFRONT: Understanding VA and FHA lending practices

My agent tells me she had two offers with VA loans, but the development is not approved for VA or FHA loans.

Tips for Getting Your Community FHA Approved

Starting the FHA Approval process is not difficult, but it does differ depending on your role in the community.  

Grace and Subdivision Services Merge with Sentry to Become HOA & Condo Management Powerhouse in Georgia

Sentry Management, Inc., a leader in homeowner association and condominium management concluded the merger on October 1 with Atlanta’s Grace