Monthly Archives: August 2016

Monthly Archives: August 2016

Congress Passes Law Requiring FHA to Loosen Project Approval Requirements

In late July 2016, President Obama signed H.R. 3700, the Housing Opportunity through Modernization Act.  This legislation alters the process utilized by the Federal Housing Administration (FHA) in determining if condominium unit owners qualify for a mortgage with FHA insurance.  FHA-insured mortgages are used by many first-time homebuyers to purchase homes, including condominium units. In 2009, […]

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