How Impending FHA Condo Lending Regs May Impact Condo Management

How Impending FHA Condo Lending Regs May Impact Condo Management



 

On June 12, 2009, the Federal Housing Administration (FHA) announced a new, stricter approval process for condominiums to be eligible for FHA financing. At the time, the FHA's revised lending guidelines were to be effective Oct. 1, 2009. However, since they were announced, the effective date of the new regulations has been twice postponed. Now, the new regulations governing condominium mortgage insurance will be effective Dec. 7, 2009.

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