HUD officials are developing new rules that will make it easier for buyers to get loans to buy condominium units and improve the process condo projects must go through to get certified by the FHA. The rules, set to come out at the end of October, follow the passage earlier this year of a new law, H.R. 3700, designed to ease restrictions that have made it difficult for many creditworthy buyers to obtain mortgages for condos, a common entry point to home ownership in the United States.
To help you understand the coming changes to the condo-financing and recertification processes, NAR is hosting a live webcast on Friday, Oct. 28, at 2 p.m. Eastern time. Guests will include two NAR staff members who played key roles in encouraging lawmakers to pass H.R. 3700. Register.