As an FHA Realtor & Condo Specialist in Burbank, CA, San Fernando Valley, Santa Clarita Valley in Los Angeles County, I strive to educate and inform my clients of the happening in the real estate field, giving you insight, advice and commentary. If you have a friend who would appreciate my blog , please forward it and thank you. (Hablo Espanol, Bilingual Realtor in Los Angeles County)
FHA has announced an extension of condominium project approvals with an expiration date of December 8, 2010. Provided below are the extension dates based on five-year time frames with the exception of those condominium projects with original approval dates from 1972 -1985.
Initial Project Approval Dates Current Expiration Date New Expiration Date
1972 - 1980 December 7, 2010 December 31, 2010
1981 - 1985 December 7, 2010 December 31, 2010
1986 - 1990 December 7, 2010 May 31, 2011
1991 - 1995 December 7, 2010 July 31, 2011
1996 - 2000 December 7, 2010 August 31, 2011
2001 - 2005 December 7, 2010 September 30, 2011
2006 - 2008 (Sept) December 7, 2010 March 31, 2011
The extensions were granted to reduce the impact of processing and reviewing the number of project approvals expiring at the same time while recognizing current housing market conditions. Lenders and/or other interested parties are encouraged to begin the re-approval or recertification process as early as possible as it is not anticipated that any further extensions of project approvals will be issued.
The Condominium look-up page and the FHA Connection databases were updated on December 7, 2010 and now reflect the extended expiration dates. The links to the sites are:
Condominium look-up page: https://entp.hud.gov/idapp/html/condlook.cfm
If you are an FHA Buyer looking to buy a condo or townhouse in Burbank CA, San Fernando Valley, Santa Clarita Valley, Antelope Valley, you still have time to apply for FHA loan condo before these new deadlines. Call me for a complimentary consultation and lender referral.