FHA has come out with its long-awaited rules on condominium loans, and they're a mixed bag for investors, second home and other buyers and sellers.
On the one hand, the rules allow lenders a lot of more flexibility in reviewing condo project eligibility and documentation. That's good -- it should allow more lenders to increase their condo activity in the red-hot FHA segment of the market.
On the other hand, the agency is imposing a number of important restrictions. To Read the entire article, please go to: http://realtytimes.com/rtpages/20090629_investorreport.htm or listen to the Webcast by clicking on Realty Times above.
By Kenneth R. Harney/Realty Times
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