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Revised FHA Condo Guidelines Pose New Challenges
6/30/2011
Community Associations Institute (CAI) is raising concerns about condominium financing guidelines published June 30 by the Federal Housing Administration (FHA).
While the new guidance shows some progress on issues critical to condominium communities, homeowners and prospective buyers, CAI says it poses a host of new challenges, including issues involving homeowner delinquency criteria, deed-based transfer fees and pre-loan community certifications.
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