fha condo changes effective 2110: FHA condo changes effective 2-1-10
- 02/02/10 06:49 AM
Well, it was great while it lasted but the ability to do condo spot approvals through FHA has officially come to a close as of yesterday, February 1, 2010. As of today's date, any condo that is going to close using FHA financing will need to be approved either through the HRAP or DELRAP process. For those of you that like acronyms as little as I do, these two options are: FHA approval of condo or lender approval of condo. From what I have been able to investigate, there will be a lot of resistance from the lenders as far as … (5 comments)
Well, it was great while it lasted but the ability to do condo spot approvals through FHA has officially come to a close as of yesterday, February 1, 2010. As of today's date, any condo that is going to close using FHA financing will need to be approved either through the HRAP or DELRAP process. For those of you that like acronyms as little as I do, these two options are: FHA approval of condo or lender approval of condo. From what I have been able to investigate, there will be a lot of resistance from the lenders as far as … (5 comments)
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