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

How to Choose a Property Management Company

No two communities are identical; each community has various factors which influence what type of…

5 hours ago

Untenable Tenants! How To Address Problem Renters In Your Condominium (MI)

Tenants in condominium communities are often viewed as challenging, since they may not be familiar…

5 hours ago

HOA Homefront: Is it our manager or is it us?

Many associations struggle with a poor manager relationship, resulting in frustration for both sides. However,…

7 hours ago

Dubai homeowner associations can use emergency funds to take on repair works from April 16 rains

Homeowner associations in Dubai have started to receive approvals from RERA to use their emergency/reserve…

7 hours ago

What you can expect to pay for NYC condo or co-op insurance

New York City has never been particularly cheap, and annual insurance costs make living in…

7 hours ago