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Condo | HOA Lawyers

FHA Condominium Approval Required?

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:

http://www.hoaleader.com/public/Is-Successful-FHA-Certification-a-Fiduciary-Duty-Discussion-Forum-Followup.cfm

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