RECENT BLOG POSTS
  No, Your 2-unit Condo Project is Not Approvable with FHA   I debated calling this article "You better hope your unit doesn't burn down!" Last week, I received a call from a woman in Salt Lake City, UT, who is having difficulty selling her condominium unit because it is not HUD-approved.  I rece...
07/10/2014
  FHA Condo Approvals – Impatience Does Not Help Anyone I felt the need to write about this as I have received several requests this week to “submit what you have to HUD” despite my recommendations to the contrary. Over the past 20 months, 52% of the condominium project approval packages that I h...
07/10/2014
FHA Condo Approvals – Recent Email Inquiry: Site Condominiums Here is another recent email inquiry from a gentleman attempting to purchase a Site Condominium with an FHA loan and was encountering troubles.  He asked questions pertaining to the HOA paying for the insurance of the units and if it w...
07/10/2014
FHA Condo Approvals – Recent Email Inquiry: FHA Concentration Activerain.com helps to generate loads of email inquiries which, many times, turn into clients for which I am VERY appreciative! It has become obvious that these emails and responses should be converted into blog articles so my goal wi...
07/10/2014
FHA Condo Approval Expiration Dates As noted earlier, all approved condominium projects must now be recertified by HUD every two years.  The purpose of this is so that HUD can monitor the dynamics in a condo complex to verify that its risk level does not exceed HUD's threshold. Projects that were...
07/10/2014
New FHA-Insured Loan Guidance   **Update: Mortgagee Letter ML 12-10 rescinded these changes.**   In Mortgagee Letter ML 12-3 FHA released updated loan guidance which slightly modified credit-qualifying criteria.  These changes are to take effect for case numbers assigned on or after July 1, 2012....
07/10/2014
May 31 FHA Condo Approval Expiration Date Quickly Approaches! For condominium projects that are currently approved with HUD whose initial approvals occurred during 1986-1990, your approvals will expire in less than a week.  Chances are if you haven't submitted a recertification package to HUD alr...
07/10/2014
March 31 FHA Condo Approval Expiration If your condominium project was initially approved with HUD between 1986 and 1990, then its approval expires at the end of this month. This also means that since your project was initially approved with HUD prior to 1/1/2000, it will need to undergo a comple...
07/10/2014
Does Our Condominium Project Qualify for an FHA Approval? Before we begin processing an application for an FHA condo approval, we request that a prequalification questionnaire be completed.  This will rule out the easy-to-spot reasons that would result in rejection.  It will also provide some ins...
07/10/2014
  FHA Condo Approvals – Another Happy Association!   Tina is the Treasurer for a condominium project in Connecticut.  She found me through my ActiveRain blog and contacted me well in advance of applying for a condominium approval with HUD. And it’s a good thing that she did! She had taken over as...
07/10/2014
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ReadySetLoan Condo Approval Team

The FHA/VA Condo Project Approval Specialists
local_phone860.993.1411
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