by Douglas C. Shumway | Aug 31, 2016 |
One of the things that creates an obstacle for some associations in obtaining FHA certification is the requirement that 50% of the units must be owner-occupied. A new law changes this requirement, however, in a way that benefits condo associations, purchasers, and developers. On July 29, 2016, President Obama signed into law the Housing Opportunity Through Modernization Act (passed by unanimous vote in the US House of Representatives), which changes FHA requirements for condominium certification. Read More...
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