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[...] FHA Eases Some Key Condo Financing Limits – Speaking of Real Estate blog [...]
It’s about damned time. These guidelines are affecting property values all across the country. They are dragging the housing market down.
[...] I’ve been complaining for years about how tightened loan guidelines from FHA, Fannie, and Freddie have been hindering housing recovery. Here is a tiny step forward as reported by NAR: [...]
[...] Read more about this on NAR’s Speaking of Real Estate blog. [...]
Condo projects allowed their Association approval lapse with regard to FHA approval.Now the association’s board will not reapply because they do not want “undesirables buying in their community” backward thinking. Mean while the community suffer will little or no financing available for their communities. Therefore the values of the homes are going lower and lower.
Very welcome and oh so timely news. As market activity picks up, many first time home buyers were being constructively precluded from participating because of rules from a different market envIronment still in play. Thank you NAR.
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