Wednesday, November 18, 2015

HUD Announces Relaxation of Condo Financing Requirements



    This was huge news, timed for release at the NAR convention in San Diego.  A few years ago, HUD implemented re-certification requirements that were completely unreasonable for condo association boards to comply with.  The result was that a majority of condo complexes became “unwarrantable” meaning that FHA and other loans were virtually impossible to obtain. Thanks to NAR’s efforts, HUD has now relaxed those requirements. 

[Read HUD's press release on this topic here: http://portal.hud.gov/hudportal/HUD?src=/press/press_releases_media_advisories/2015/HUDNo_15-145]  


[Published Nov. 19, 2015, in the Jeffco editions of the Denver Post's YourHub section and in four Jefferson County weekly newspapers]

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