FHA may relax condo rules soon

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Lee County planners are reviewing the island’s zoning plan to determine whether to relax tough rules on how many. been no new skyscraper condominiums under construction in Southwest Florida for.

FHA approved condos: Rules and requirements FHA condominium guidelines are often stringent. It’s more difficult to get approved for a FHA loan on a condo than for a single-family home.

Because if they do, fha condo approvals may not be as valuable to associations as they are now. This could pose a threat to our livelihood. I explained that the spot loan program was eliminated due in part to abuse in the mortgage industry. It allowed for single loans in condominiums that were not on the FHA approved condominiums list.

MBA: Mortgage applications slide 0.6% from last week The adjustable-rate mortgage (ARM) share of activity rose to 9.5% of total applications. The fha share fell to 8.8% from 9.3%, the VA share remained unchanged at 10.4%, and the USDA share remained.FHFA: Principal reduction would cost Fannie, Freddie $100 billion using FHFA’s House price index. fhfa estimates that principal forgiveness for all of these mortgages would require funding of almost $100 billion to pay down mortgages to the value of the homes securing them. This would be in addition to the credit losses both Enterprises are currently experiencing.

FHA may relax condo rules soon. jessica guerin is an editor at HousingWire covering reverse mortgages and the housing wealth space. She is a graduate of Boston University and has a master’s.

Thousands of condo unit owners and buyers around the country could soon be in line for some welcome news on mortgage financing: Though officials are m. FHA may ease rules for condo mortgages.

One of the benefits of owning a beachfront condo is that the responsibility for maintenance and upkeep is limited, so you can relax and enjoy. Beachfront condos may not qualify for some loans such.

New condominium approval guidelines proposed by the Federal Housing Administration this week could make it easier for older condo owners to obtain a reverse mortgage. The proposed rule, Project. more Spot Approvals Included in Proposed Condo Guidelines

16:45 ET Subscribe to our weekly e-newsletter, Top News. Realtors: FHA should relax condo rules further. The Federal Housing Administration hasn’t gone far enough in relaxing its rules on borrowers seeking an FHA loan for a condominium, according to the National Association of Realtors (NAR).

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FHA RULES REGARDING CONDOMINIUMS By Deborah Goonan, Independent American Communities In light of recent developments, I am republishing the following blog, originally appearing October 27, 2015. See the following article. The House of Representatives has voted to relax condo rules. This is, in my opinion, a very misguided approach to improving the rate of homeownership, as well as affordability, for American home buyers.