FHA Information Tag

Is your HOA currently restricting rentals? Is your board interested in doing so? Do you have a problem with short-term rentals? Are you trying to get FHA approval for your condominium association? If any of these answers are “yes,” it’s important your board knows about recent Idaho legislation that will significantly impact your association. The legislature has passed a new law that severely...

On August 29, 2014 the Federal Housing Administration (FHA) announced the extension of its current condominium project approval guidelines for an additional two years.  Several of the key project approval guidelines were modified in 2012 to make it easier for many condominiums to obtain FHA approval.  Those modified guidelines were originally set to expire on August 31, 2014, unless extended....

Most folks involved in the condominium industry are, at least vaguely, aware that obtaining FHA approval for condominium projects has become both increasing important, as well as increasingly complicated over the past few years.  Recent changes in FHA approval requirements and FHA policy have had a significant impact on the availability of FHA financing for condominiums (For a more detailed...

Recent changes to FHA guidelines have opened the door to FHA approval for many condominium projects that were previously ineligible.  In light of these changes, now is an excellent time for condominium associations to evaluate (or re-evaluate) their eligibility and consider applying for FHA approval.  This article will discuss the significance of the recent changes, as well as give a broad...

A great deal of confusion currently surrounds the issue of FHA approval for condominiums. I get phone calls on an almost daily basis from board members and managers who are curious, confused, or confounded by all the recent changes to the FHA approval process. To help alleviate some of this confusion, I felt it would be helpful to provide a brief overview of the approval process itself,...

Beginning in June of 2009, the U.S. Department of Housing and Urban Development (“HUD”) and the Federal Housing Administration (“FHA”) proposed, implemented, and modified new guidelines regarding the qualification of condominium projects for FHA-insured financing. These guidelines are highly complex and still evolving, and will likely be subject to further modification and clarification by HUD...