FHA sorta kinda might tweak condo rules

Not too long ago we told you how FHA changed tightened its rules for condos to have their units certified for FHA loans — and then required every condo in the country to re-apply for that certification. The result is that condo owners who try to sell are finding they’ve lost a good portion of their market because their association hasn’t done the paperwork. (Click here to read that story.)

Anyway, some Democratic congressmen wrote to HUD secretary Shaun Donovan, pointing out that a lot of condo associations were having trouble meeting the new guidelines.

Result: FHA head Carole Galente said that yes, some “adjustments” in the requirements could happen. Her exact phrase:

“I will commit to you here that some of these I think we can make some adjustments.”

Translation: I promise that maybe we’ll change things.

Click here for a bit more from HousingWire.

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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