Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

FHA Condo Spot Approval Checklist
Elimination of FHA Condominium Spot Approval Delayed Again.
Lender spot approval was scheduled to end after several delays on December 7, 2009, the elimination of condominium spot approval has been delayed until February 1, 2010.
Implementation of FHA new condominium project approval process is delayed again to December 7, 2009.  It was originally to go into effect on October 1 then delayed until November 2, 2009.   So if December 7, (an auspicious date indeed) is the date then at that time individual lenders will begin to approve each condominium project. 
FHA Mortgagee Letters 2009-46 A and 2009-46 B describe the new approval process in detail.
Below are the questions needed for a FHA condo spot approval up to February 1, 2010
FHA Condo Spot Approval Check List _______ 1.  The legal documents of the homeowners association do not contain a right of first refusal or restrictive covenant. _______ 2.  The unit is part of a condominium regime that provides for common and undivided ownership of common areas by unit owners. _______ 3.  The project, including the common elements, and those of any Master Association, are complete, and the project is not subject to additional phasing or annexation. ______  4.  (a)  There are no special ... more

__________________________________________________
Are you on The Rain? Grow Your Network!