FHA may relax condo rules soon

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On July 29, President Barack Obama signed a new bill into law that could ease FHA financing for thousands of home shoppers relying on the more affordable condo market. Called HR3700, the measure may.

 · FHA may soon play a larger role in financing of condos. that rules for financing a condo may be changing.. said revisions to controversial FHA rules on condos.

The FHA Condo Approval list is the only official list released by HUD.. It is updated once a day, so there is a 24-hour lag for condos that become FHA Approved, and when they appear on the list.Because of this, make sure to check back daily to see any updates made by HUD to the FHA Condominium Approval list.

In today’s real estate market, some people are buying a second home to use as a primary residence. Low housing prices, low interest rates and tax incentives all have some homeowners jumping in for another home. The buyers’ market can make it difficult for people to sell their first

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Two Sumner County condo developments cater to lock-and-leave lifestyle Condo buyers are attracted by the lock-and-leave lifestyle at the new Gatherings at Indian Lake in Hendersonville and Revery.

An article published by Housingwire on Wednesday reveals that the Federal Housing Administration may ease restrictions on financing purchases of condominium units. Take a look at the article for details of the new rules and how they are expected to protect a struggling emergency insurance fund. FHA May Relax Condo Rules Soon

Mortgage delinquency risk hits all-time high The delinquency rate among loans from state housing finance agencies reached 7.5% at the end of 2010, up a full percentage point from the previous quarter and the highest rate on record, according.

Those changes could make it easier for some borrowers to get condo loans on projects that were previously ineligible for FHA home loans. According to the May 22, 2012 HousingWire.com article, FHA may relax condo rules soon, a HUD spokesperson was quoted saying the agency is "evaluating potential changes to our condo requirements and expect to.

How to Know if a Condo is FHA Approved! But all that changed after the FHA significantly relaxed its guidelines some years back.. an FHA loan and a conventional loan for the same amount – as long as the. In some cases, she said, condo developments may have.