ShareThisFHA Eases Restrictions On Condo Lending!
Great News! FHA is temporarily easing its lending requirements for condominiums, in a bid to help the real estate market. In Maryland their are many condo communities that can not get FHA approval because of the amount of delinquent condo dues. I’ve had many buyers who wanted to buy condos in communities that could not get FHA approval. This will help eliminate some of the condo inventory. the agency was quoted as stating, “It was determined that certain policy adjustments were needed to address current housing market conditions.” These “changes, which will stay in place for almost two years, include easing the requirements regarding the number of units in a building that can be delinquent on their association dues.”
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