Condominiums Spent Budgeted Reserve Contributions Elsewhere

In recent months while assisting condominiums to get certified and recertified with FHA, we are running into an issue that is a fairly simple one to avoid. We make it a point to remind our clients to contribute at least 10% of the budget to the reserve account annually. Not only does FHA require this, it is also a requirement to obtain conventional loans (Fannie Mae).       Read more………

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