Florida News: FHA working on plan to approve more condo

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But the use of eminent domain to seize, and then restructure, underwater private-label mortgages would result in more than just losses. maximum ltv/cltv 5% for non-condo properties in 28 counties.

Co-op vs. condo: What’s the difference? The major distinction between these two properties is exactly what you will actually end up owning. A condo is a private residence owned by an individual or family in a building or community where the residents share common areas with the other condo owners.

the City Council’s Housing and Real Estate committee unanimously approved a measure Wednesday that would make it more difficult for investors to deconvert properties. The now state requires 75 percent.

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I am trying very hard to understand as to why you cannot sell a condo if your HOA decides against FHA approval for the community? A vote was taken a while back and the HOA said it would cost each condo owner over $1,000 for the community to even start the application process for FHA approval. If not approved, that money is lost and non-refundable.

Also, just because FHA says you can get a condo loan does not mean the lender you have chosen will agree to fund such a loan. Further, to complicate matters the other direction, just because a condo complex is absent from the approved FHA condo list does not mean the lender won’t accept a "spot appraisal" and approve it, because the lender might.

He sees brown: century-old pine and oak trunks towering more than 100 feet above him. Shasta County’s planning commission unanimously endorsed Miller’s plan to build houses on that land. The.

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Extends the recertification requirement for approved condominium projects from two to three years; Allows more mixed-use projects to be eligible for FHA insurance "Florida Realtors has been working with NAR on this matter for some time now, and we are excited to see the results of this work," said Sain.