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NEWS FLASH: the Department of Housing and Urban Developed announced today that they will delay changes to the FHA Condo policy. This is good news to anyone involved in the low to mid range condo market. The changes have been delayed until December 7th (after initially being delayed from last year until this month, and then were pushed back again until November).

They have also announced additional leniencies to address the difficult market conditions and augment some portions of the Mortgagee Letter 2009-19, providing additional information.

So "Spot Loan Approvals" are still on for another month!

Here's where you can find the FHA Mortgagee Letters 1996-41 and 2009-19: http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/

There are also new Mortgagee Letters I haven't gone through yet, but they can be found at the same site.

Enjoy!

-James Wirth

 
Posted by James Wirth on 10/22/2009 12:55 AM   Comments (0)   Fha Condo Financing in the ActiveRain Channel   mortgage, fha, fha condo, condo, condo financing, home loan  
This post has been included in Washington Information Snohomish County, WA Information Mill Creek, WA Information
Post is included in group: Puget Sound - WA Real Estate
Post is included in group: Mortgages
Post is included in group: Eastside Networking (Bellevue, WA)

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James Wirth

Mill Creek, WA

More about me…

Bank of America Home Loans

Address: 15021 Main Street, Suite C, Mill Creek, WA, 98012

Office Phone: (425) 357-3062

Cell Phone: (425) 501-4749

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The opinions of a Loan Originator. Comments about mortgage market conditions, food for thought on home equity, and things that make you go 'home'


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