As FHA insured mortgages become more and more prevalant in the Ohio condominium lending market, many board members and professional property managers have inquired as to whether a condominium association has the duty to become FHA approved. As the article linked below from HOA Leader indicates, while there is no duty that condominiums obtain approval, many of the “smart” condominiums are doing so:
FHA Condominium Approval Required?
Jeffrey Kaman
Jeffrey E. Kaman is the Administration Department and Columbus Office Chairs. Jeff earned his law degree from the Cleveland Marshall College of Law, after graduating with honors from Loyola University Chicago with degrees in Honors History and Political Science.
All Blog Posts
Categories
Recent blog Posts
Did Fannie Mae Just Update its Condominium Lending Guidelines Again?
Maintaining mortgage eligibility is one of the most important aspects of protecting property values. If your condominium ...
Read More →
Are Reverse Mortgages a Hidden Risk for Your Association?
Reverse mortgages allow homeowners aged 62 and older to convert home equity into cash without ...
Read More →
What is a reasonable late fee for delinquent community association assessments?
Community associations depend upon the timely payment of assessments to maintain operations and protect property ...
Read More →
Owner to Owner Dispute – Lessons in Property Transactions
Owner to Owner Dispute – Over a Driveway Easement and Boat Slips: A recent case perfectly illustrated the importance ...
Read More →