Troy Erickson AZ Realtor (602) 295-6807
Your Chandler, Ahwatukee, and East Valley Realtor
Chandler,
AZ
More about me…
HomeSmart
Address: 3175 W. Stephens Pl., Chandler, AZ, 85226
Mobile: (602) 295-6807
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Troy Erickson
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Watch Out, the FHA is changing the lending rules for Condos! Because of this, many developers are scrapping plans for any new projects. As of this last Monday, the FHA (Federal Housing Administration) started limiting how many of you can get your loans insured when buying a condo. The new rules have also put restrictions on buildings with poor finances, too many deliquent owners, and a high number of rentals. The intent of the tighter lending standards is to protect the financial health of the FHA. Right now, about 18 percent of loans insured by the FHA are deliquent or in foreclosure, … (3 comments)
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