FHA Extends Condo Rules for Reverse Mortgages, Other Loans

The Federal Housing Administration this week extended its current rules regarding condominium lending as it continues to work on permanent updates.  In a new mortgagee letter, the FHA implemented an open-ended extension of the existing condominium rules as laid out in previous letters released in 2012 and 2015 — essentially freezing the status quo until FHA updates the Single Family Housing Police Handbook 4000.1 with a final rule for condos.     Read the article………..

Editor

Recent Posts

Fire displaces 5 units at Casselberry condo complex (FL)

Five units at a condo complex in Casselberry were damaged in a fire early Sunday…

1 hour ago

Condo signed contract, imposing monthly internet fee without a vote. Is that legal? (FL)

Question: Every unit in our condominium has always used their own cable and internet providers.…

2 hours ago

Can a HOA really tell you what to do about your grill smoke?

Summer is nearly here and that means that it's the perfect time to get grilling. …

16 hours ago

1 injured, up to 75 displaced after Stratford fire at Main St. condo building (CT)

One person was injured and up to 75 were displaced Saturday after a fire broke…

16 hours ago

Condo community installs gates at trash enclosures (NV)

Q: I live in a small condominium community of 84 units. We have three trash…

22 hours ago

Not Crazy: Insurance Premiums

Before we look at the data, I can speak about my local experience in Southwest…

1 day ago