FHA Condo Financing Evaporating

In a letter to lenders, the Federal Housing Agency (FHA) produced new guidelines that would constrict financing for condominiums. Since then, brokers and condo owners report that FHA financing for condos is going from a flood to a trickle. n a letter released Nov. 6, the FHA provided temporary guidance effective for all case numbers assigned on or after Dec. 7, 2009 through Dec. 31, 2009. The FHA provided the letter to address current housing market conditions.

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