Eric Boucher's Blog

FHA Condo Approval Specialist at ReadySetLoan Condo Team LLC

July 11, 2017

Forget the Bathing Suits this Summer as a Nudist Community Tries to Get Approved through HUD for FHA Loans
In the spirit of summer, we are going to revisit an old topic about nudist colonies. Condominiums come in all sorts of shapes and sizes and this one is no different.  Well, it is a little bit different… There is a condominium project that wishes to obtain FHA project approval for its unit owners... Read More



November 12, 2015

That Doesn’t Count Towards the 10% Reserve Contribution
So when don’t the contributions count towards the 10%? When the funds are already delegated to fund an existing... Read More



October 23, 2015

I Challenge the Assertion the Condo is Not Approvable by FHA
Because the Association has the authority to terminate leases, it violates 24CFR203.41(b) “free... Read More



October 9, 2015

9 Types of Condo Projects that Must be Reviewed by HUD/HRAP
there are 9 different circumstances where the condominium must be reviewed by HUD... Read More



October 2, 2015

More About FHA’s Stance on Condominium Leasing Restrictions
The section of the National Housing Act, 24CFR203.41, states that properties encumbered with FHA-insured loans must have free assumability with no restrictions except as stated in this... Read More



September 24, 2015

Airbnb and FHA Condominium Approval
If the legal governing documents prohibit Airbnb, the project is eligible for... Read More



September 24, 2015

FHA Condo Approvals – Transient Leasing
FHA only allows a handful of leasing restrictions; one of them is that units cannot be used for transient... Read More



September 17, 2015

FHA Clarifies its Position on Leasing Restrictions in Condominiums
If the homeowners association has approval authority of a unit owner’s ability to lease his/her unit either directly or indirectly, the condominium is ineligible for project approval with... Read More



September 10, 2015

Are Nudist Community Condominiums Allowed by FHA?
The issue is that all unit owners are required by the legal governing documents to acquire and maintain membership to either a regional or national nudist... Read More



September 4, 2015

Automatic Power of Attorney is not Acceptable for FHA Condo Approval
If the legal documents grant irrevocable POA to the association simply by the unit owner accepting the deed, the condominium is ineligible for FHA condominium project... Read More



August 28, 2015

Do You Sign Appendix A When You Submit a Condo for FHA Approval?
If you submit a condominium package to HUD that is not approvable, you could be subject to a $3500... Read More



August 22, 2015

Does HUD Allow Private Transfer Fees?  Yes and No
Basically, a condominium’s CC&Rs may not limit the amount a seller may gain from the sale of his/her unit EXCEPT for the exceptions laid out in... Read More



August 13, 2015

The VA is Definitely Tougher on Condo Leasing Restrictions
The VA is tougher on leasing restrictions than is FHA, if you can believe... Read More



August 6, 2015

Our Condominium Has 50% FHA Concentration – Now What?
FHA does allow greater than 50% concentration in condominiums that meet its guidelines to be granted an... Read More



July 31, 2015

How Does FHA Handle “Cloud” Condominiums?
Because these projects do not have an HOA to enforce the CC&Rs, FHA has decided not to approve these condominium... Read More



July 31, 2015

What is a “Co-Housing” Community?
Co-housing communities range in size from a handful of units to more than 5 dozen; although typically they contain 20-40... Read More



July 31, 2015

What Types of Condominium Projects are Approvable by FHA?
The above list represents the major categories of condominiums that are not eligible for FHA project approval. Most of them are also not eligible for Fannie... Read More



July 29, 2015

Can We Use Reserve Funds for Landscaping During Drought?
From an FHA condominium project approval standpoint, a severe drought is an exceptional circumstance that is beyond the control of the association. If budget overruns do... Read More



July 24, 2015

FHA Won’t Dictate How You Run Your Condominium
The Board thought that the FHA approval would mean that the condominium would then be a HUD community and have the right to tell the association how it should be... Read More



July 24, 2015

Board Doesn’t Want HUD to Affect Operation of Condominium
The Board has been reluctant to provide the necessary information to us and it recently surfaced as to why this is. They have concerns that once the condominium is approved by FHA, the Federal Government will have the power to dictate how the condominium is... Read More



July 18, 2015

Property Manager Won’t Help With FHA Condo Approval
The management company is refusing to provide any assistance in the FHA approval process because they will not be the provider of this... Read More



July 10, 2015

New Level of Scrutiny in FHA Condo Project Approvals
A few weeks ago, the Chief in FHA's Philadelphia HOC was replaced and since then, we have seen some changes in procedure and the level of... Read More



June 23, 2015

“Your Association and the FHA – What’s in it for me?” with Eric Boucher
Join Reserve Specialist Robert Nordlund of Association Reserves and Eric Boucher of ReadySetLoan in this straightforward discussion clearly outlining the benefits of becoming FHA... Read More



June 18, 2015

Trying to be Slick with Legal Language
The packages for FHA condominium project approvals include the management agreement between the association and the property... Read More



June 12, 2015

Our Condominium’s FHA Concentration is 75%, What Do We Do?
FHA “concentration” means the percentage of units that are encumbered with FHA... Read More



June 12, 2015

6-Unit Condominium Approved with FHA in 9 Days
The approval was due to expire on 6/10/15 and he has one, possibly two, pending sales to FHA buyers that could be in jeopardy if it doesn’t get approved... Read More



June 3, 2015

But the Master Association Has Reserves
Neither of the two condominiums maintain their own reserve accounts. The Master Association maintains reserve accounts and collects money for their funding... Read More



May 30, 2015

Can We Not Send that Document to FHA?
We are currently processing a 2-year FHA recertification for a small 6-unit condominium.  It was approved with FHA in June of 2013 so it should be a piece of cake, right?  Well, maybe not… Our contact with the association hired us after reading a few of our blogs.  He called when he had some... Read More



May 22, 2015

No Pooled Insurance Without a Master Condo Association
This may be one of those cases where FHA makes internal changes to its guidelines for condominium project approval and doesn’t tell anyone, which sometimes happens.  We who submit condominiums for FHA project approval often don’t learn about such internal changes until we submit a project... Read More



April 18, 2015

USDA Purchase Loans for Condo Units
Probably the most under-utilized purchase loans for condominium units are those insured by the USDA. Like the VA and FHA, the USDA Rural Development (RD) program is a home loan insurance that allows the financing of condominium... Read More



April 18, 2015

USDA Rural Housing Program Maps
The USDA determines the eligibility of an area based upon census data and sets a maximum population limit. Until the 2010 census data was released, it was using the 1990 and 2000 census data and had set the maximum population for the area at... Read More



April 11, 2015

Can Our Condominium Get FHA Approved Before Construction?
A proposed new construction condominium project can meet the project-level requirements to get on the FHA Approved Condominiums List even before any of the units have been... Read More



March 12, 2015

Condo Unit Financing Almost Killed Due to Reserve Contribution
Last week a loan officer contacted me regarding a loan he had in  process.  At the 11th hour, the lender was rejecting the conventional (Fannie Mae) loan based on the association’s contribution to the reserve account.  According to the underwriter, the association was contributing less than... Read More



February 24, 2015

Can We Use Reserve Funds to Offset Excessive Costs From This Winter?
Using reserve funds will not necessarily impact the ability to get recertified with FHA. This is an unusually bad winter and I would expect most condominiums in the northeast will be over-budget on winter-related expenses. FHA will understand this so we can explain this... Read More



February 21, 2015

Importance of 10% Reserve Contribution to Condo Unit Financing
In speaking with several associations recently, I was surprised to hear that they knew about this FHA requirement but didn’t know anything about Fannie Mae. “We aren’t seeking FHA approval” was the response from one condo board member. Maybe not, but you are ruling out the VAST majority... Read More



February 19, 2015

Mr. Condo Beats the Drum for FHA Certfication
“Mr. Condo” is the stage name for Robert Gourley who manages a site called askmistercondo.com.  He is a WEALTH of information about all things condominiums and is a former Executive Director of the Connecticut Chapter of the Community Associations Institute.  Through his site, he receives... Read More



February 19, 2015

Insurance Corner with Cody: My Neighbor’s Tree Fell into My Yard.  Who is Responsible?
‘Tis the season of heavy snow, fallen trees and damaged property.  In populated areas, the possibility of a neighbor’s tree falling onto your property is greater during this time of the year.  Who is responsible for the fallen tree is a common question we receive. The laws in Connecticut... Read More



February 7, 2015

Fannie Mae Reintroduces 97% Financing for Condominium Units
Last week Fannie Mae announced the reintroduction of 97% financing for single-family homes, PUD units and condominium units.  This program would compete directly with FHA 96.5% financing…or will it? From our experience, when Fannie Mae previously offered a 97% loan product, it wasn’t... Read More



January 30, 2015

97% Financing – Fannie Mae Releases Selling Guide 1.27.15
Fannie Mae reintroduces 97% financing for single-family home purchases and... Read More



January 23, 2015

What Does Undivided Ownership Interest Mean?
Probably one of the most distinct features of condominium ownership lies in the concept of “undivided ownership interest” of the common elements. All unit owners as members of the condominium’s association share ownership of the common... Read More



January 14, 2015

Insurance Corner with Cody: Is Wind a Covered Peril?
A question frequently asked by lenders and homeowners regarding home insurance is whether or not wind is a covered form of loss.  The answer in most cases is “Yes”.  Wind can be categorized as an Act of God and would fall under a covered loss on most policies. However, there are policies... Read More



January 14, 2015

FHA Announces Reduction in Monthly Mortgage Insurance
On Friday, December 9, 2015, HUD released Mortgagee Letter 15-01 which announced a 0.50% (50 bps) reduction of the FHA monthly mortgage insurance on most forward mortgages with terms greater than 15 years.  This comes on the heels of months of lobbying by housing groups such as the National... Read More



December 11, 2014

Why Do I Keep Hearing About 24CFR203.41?
After working with FHA Condominium Project Approvals even for a short time, you will run into a condominium’s legal documents that violate 24CFR203.41.  This section of the Code of Federal Regulations relate to the exemptions of what is called “free assumability”.  That is, a third party... Read More



December 10, 2014

This Leasing Restriction Will Prevent FHA Condo Approval
I recently fielded a referral from a reverse mortgage broker.  His client lives in a condominium and cannot obtain a reverse mortgage due to the condominium not being on the FHA Approved Condominiums list.  He contacted me to see if we could get the condominium approved. We take potential clients... Read More



November 26, 2014

Condominiums Spent Budgeted Reserve Contributions Elsewhere
In recent months while assisting condominiums to get certified and recertified with FHA, we are running into an issue that is a fairly simple one to avoid.  We make it a point to remind our clients to contribute at least 10% of the budget to the operating account annually.  Not only does FHA... Read More



November 20, 2014

Conventional Condo Loans Rejected for Comments on FHA’s Site
Recently, we were contacted by a property management company for assistance with an FHA condominium project approval.  The project had been submitted to and was rejected by FHA for three reasons.  Yesterday, the property manager informed us that conventional loans were now being rejected because... Read More



November 15, 2014

The Return of FHA Spot Condo Loans?
This past weekend, I was mentioned in a Ken Harney article (shameless self-promotion). He called me two weeks ago to revisit a topic that we had earlier discussed: the possible return of FHA Spot Loans for Condominiums. Following the article, I was contacted by a colleague who asked me if I... Read More



November 13, 2014

Ken Harney’s Beating On FHA Again
This past weekend, I was mentioned in a Ken Harney article.  He called me two weeks ago to revisit a topic that we had discussed in April: the possible return of FHA Spot Loans for Condominiums. While I am honored that he chose to cite me in the article, I don’t believe that the paragraph... Read More



November 12, 2014

That’s Your Dog’s Poo – I Have the DNA to Prove It
Over the weekend, we exhibited at the CAI New Jersey Conference and Expo.  There was a fantastic turnout and we met a lot of people.  The most interesting vendor that we met was Debbie Huff representing a company called Poo Prints. A common issue in condominium communities is the amount of pet... Read More



November 8, 2014

Visit RSL Condo Team at the CAI-NJ Expo on November 8 at Booth 529
Stop by booth 529 at the CAI-NJ Annual Conference and Expo this Saturday, November 8, 2014 to welcome the newest members of CAI-NJ: RSL Condo Team members Emily Englander and Eric Boucher. RSL Condo Team specializes in FHA, VA and Fannie Mae condominium project approvals. There will be staff on... Read More



November 5, 2014

FHA Rejected Condo for Transient Usage
Last year, HUD released FHA Info #13-42 which clarified its stance on Transient Usage as it pertains to condominium project approvals.  Transient usage is allowing the rental of a property (including a condominium units) for less than 30 days.  HUD does not allow FHA loans for any property that... Read More



November 4, 2014

FHA Condo Guidance on Investor Ownership
In Mortgagee Letter 2012-18, HUD issued guidance for condominium processing and approvals regarding a number of criteria.  This Mortgagee Letter modified the investor-ownership requirements for Existing and Non-Gut Rehabilitation projects. For decades, HUD had required that no single person or... Read More



October 29, 2014

Lender Won’t Close the FHA Condo Loan
We have discussed in a previous article that an FHA condo loan can still close even if the condominium’s FHA approval has expired.  That is provided, however, that the FHA case number was assigned to the loan prior to the expiration of the approval.  The lender must verify that the condominium... Read More



October 25, 2014

Retirement Income Crisis
I’m sharing an article from the Wall Street Journal showing just how very bad the retirement income crisis currently is and it is expected to worsen. The article also contains information from the Federal Reserve. We have to realize that Reverse Mortgages will play an INCREASING role in the... Read More



October 13, 2014

How Many Community Associations Are in Your State?
The Community Associations Institute (CAI) publishes a report about the national statistics of community associations.  Among other data, it includes information about the national number of community associations, a rough number of community association managers and an estimated combined gross... Read More



October 13, 2014

What is the Difference Between a Condominium and a Townhouse?
I can answer this in one sentence: a condominium is declared a condominium. Yes, it is really that simple but I have read several articles on this topic and all missed this very important aspect.  They have talked about building plans, owning the adjacent plot of land and homeowner’s... Read More



October 13, 2014

How Do I Know If I am Responsible to Fix Something?
Condominiums and planned communities (and cooperatives) are forms of common interest ownership and when something breaks, leaks or malfunctions, there is commonly a question as to who is responsible for fixing it.  The answer to the question is “who owns it?” The following is a discussion as... Read More



October 10, 2014

It’s Budget Season – Don’t Forget About Reserves!
For many condominium association Boards of Directors, it’s budget season as the members work to produce a budget for the start of the new fiscal year in January.  This is why we wanted to send out a quick reminder about the importance of funding the replacement reserve account. The agencies... Read More



October 8, 2014

Condo Unit Takes Almost a Year to Sell
Cindy Jones is a Real Estate Agent with Integrity Real Estate Group in Northern Virginia.  She is an avid blogger who I follow and consistently read on ActiveRain.com.  Recently, she published an article about a condominium unit listing of hers that took nearly a year to sell, primarily because... Read More



October 2, 2014

Harvard/AARP Report: Reverse Mortgages Can Help Seniors
Reverse Mortgage News from Lou Romney : Harvard University & AARP recently released the results of a new study showing the DIRE need for Baby Boomers to consider a Reverse Mortgage.  The study also shows that Boomers are THE hardest hit by the recession and declining real estate values and are... Read More



September 25, 2014

Lincoln Rhode Island Condo Sales 2013
As we make our marketing push into our neighboring state of Rhode Island, we must be able to speak intelligently about the condominium market of the state.  As mentioned in the Rhode Island Real Estate article yesterday, Rhode Island has the second highest population density in the country.  This... Read More



September 24, 2014

Rhode Island Real Estate, Condos and FHA
As we continue to expand our marketing efforts outside of Connecticut, we have been able to gather MLS data for condominium sales in Rhode Island.  Despite our proximity to the state, I had very little knowledge of it having physically visited it less than a dozen times, primarily to go to the... Read More



September 13, 2014

Visit RSL Condo Team at the CAI New England Expo!
Stop by Booth 63 at the annual CAI New England Expo on Saturday, September 13, 2014 to enter to win a new iPad from RSL Condo Team! Oh, and you can say “hi” to us too! The New England Chapter of the Community Associations Institute is a vital resource to community association members, Board... Read More



September 12, 2014

Royal Villas Condos in Newington CT – Now FHA Approved!
We are pleased to announce the FHA Approval of Royal Villas Condominiums in Newington, CT.  FHA loans may now be utilized to finance units in the community.  Royal Villas joins the group of 12 condominiums that are FHA-approved in Newington. The process to obtain the approval took longer than... Read More



September 11, 2014

3 Myths About FHA Loans Condominium Associations Must Know
The FHA loan program is a balancing act to remain competitive in the market, mitigate risk to its insurance fund and fill the niche role for which it was designed.  FHA loans have changed a great deal even since I began my career as a loan officer in 2001.  This is not your father’s FHA... Read More



September 9, 2014

Condominium Loans Are the Best-Performing FHA Loans
The most common objection that we hear regarding a condominium association’s reluctance to becoming approved with FHA is that they don’t want FHA loans and “those” buyers moving in.  Because of this, we have done research to find if this objection has any merit.  Actually, it doesn’t.... Read More



September 2, 2014

FHA Extends Temporary Condominium Approval Guidelines
As expected, FHA extended the effective date of Mortgagee Letter 12-18 until August 31, 2016; the provisions in ML12-18 were due to expire on August 31, 2014. At 5:21AM on August 30, I received an email notification that FHA released Mortgagee Letter 14-17. The sole purpose of the Letter was to... Read More



August 30, 2014

FHA’s “6-Month Window” for Condo Recertification
FHA’s “6-Month Window” for Condo Recertification This week I received a call from a property manager who was concerned that the 6-month window for recertification with FHA was quickly approaching.  The condominium’s FHA approval expired on 3/21/14 and the manager and association were... Read More



August 29, 2014

Critical FHA Condo Approval Requirements to Sunset 8/31/14
Critical FHA Condo Approval Requirements to Sunset 8/31/14 Unless FHA releases a new Mortgagee Letter in the next few days, the temporary guidelines for condominium approvals created in Mortgagee Letter 12-18 will expire on August 31, 2014. The highlights of the 12-page document include:... Read More



August 28, 2014

FHA Eliminates So-Called “Pre-payment Penalties” for Loan Payoffs
FHA Eliminates So-Called “Pre-payment Penalties” for Loan Payoffs Yesterday, August 26, 2014, HUD modified its procedure for interest charges when an FHA loan is paid off.  As of January 21, 2015, lenders will only be allowed to collect interest from a borrower up until and including... Read More



August 14, 2014

My Condo’s FHA Approval Expired – Can We Still Close?
As FHA/VA Condominium Project Consultants, we do not typically get involved with the “loan level” side of things.  Our primary objective is to assist condominium projects to get on FHA’s and the VA’s Approved Condominiums List. One question that is often asked is “if I have an... Read More



August 14, 2014

What are the Pros/Cons of FHA Loans?
The Federal Housing Administration, or FHA, is a mortgage loan insurance provider.  FHA is housed with The Department of Housing and Urban Development, or HUD.  It has a set of guidelines for housing loans and if a borrower meets these guidelines, FHA will insure the loan to protect the lender... Read More



August 7, 2014

Does FHA Allow an Association’s Right of First Refusal?
A Right of First Refusal is fairly common language in the legal governing documents of condominiums.  Often, we are asked by Board members and property managers if this deed restriction is allowed by FHA.  For the most part, it is. The Right of First Refusal mandates that upon entering into a... Read More



July 29, 2014

FHA Condo Approvals – Impact of Affordable Rental Units
A recent inquiry that I received was regarding the impact of Affordable Rental Units on an FHA Condo Approval.  The real estate agent that contacted me was troubled because her buyer’s loan was denied by the lender because there are Affordable Rental Units in the condominium project. Obviously,... Read More



July 26, 2014

Mixed Use Condominium Exception Requests for FHA Condo Approval
Mixed-use condominium projects may be eligible for an FHA condo approval if they meet these two additional basic requirements: The total floor area of the non-residential space is 25% or less (calculations must be provided) and The non-residential aspect of the condominium is homogenous with the... Read More



July 26, 2014

Can A Mixed Use Condominium Get an FHA Condo Approval?
Following my article in the Charlotte Observer last Saturday, a developer contacted me regarding an FHA condominium approval for his mixed use condominium building.  It is a 3-story building with 20 residential units on the top two floors.  The first floor is commercial space. FHA limits the... Read More



July 25, 2014

Congratulations on your new home!
Hello! I just wanted to send out a personal “Thank You” for assisting us in getting our new home! It was quite the journey, with a couple of bumps along the way, but we are happy that it is all final and we are now unpacking. We would not have made it without any one... Read More



July 25, 2014

Eric Boucher’s Trip to HUD HQ in DC and what he learned Part One
Nice Photo with you and Sen. Al Franken. Looking forward to reading more about your trip and what kind of changes HUD is going to be doing. For the whole story click... Read More



July 25, 2014

Tax Breaks That Every Homeowner Should Know About | AOL Real Estate
Great article on some of the tax breaks owning a home could possibly provide for you. Click here to read the whole... Read More



July 25, 2014

What is the difference between a condominium and a townhouse?
Our FHA condo approval specialist Eric Boucher answers this question in one sentence! for the whole story click... Read More



July 25, 2014

Ashford Business Association 2nd Annual Business EXPO
This Saturday, February 1st 2014 the Ashford Business Association will be having their 2nd Annual Business EXPO.  Gary Stevens from Ferrigno Realtors in Storrs came in to our office to talk about... Read More



July 25, 2014

Who knows more about credit Women or Men? The Poll says……
Women! Most of the poll questions showed women to be more knowledgeable when it came to credit. One of the keys things I read was that when asked what a good credit score is, 35 percent of women (versus 29 percent of men) knew what a good score was. That is a very low percentage.... Read More



July 25, 2014

14 changes ahead for home mortgages – MSN Real Estate
Some of these changes will happen sooner rather than later. 14 changes ahead for home mortgages – MSN Real... Read More



July 25, 2014

What is a qualified mortgage? What lenders and realtors need to know.
Straight from the CFPB ( Consumer Financial Protection Bureau ) these are the new guidelines that just took effect. One of the main things to remember is number two ,Any loan that meets the product feature requirements and is eligible for purchase, guarantee, or insurance by a GSE, FHA, VA, or USDA... Read More



July 25, 2014

USDA has decided to delay any changes to the USDA eligible town map
The good news is they’ve decided to delay any changes to what towns are eligible, the bad news is it’s not permanent. USDA loans are a great way to get 100% financing while also paying minimal PMI. The USDA site lets you see if a property is eligible for a USDA loan by typing in... Read More



July 25, 2014

10 Ways a Bad Credit Score Can Hurt You
Did you know having bad credit can hurt your ability to get a job? It is legal for would-be employers with your permission to look at your credit report and use that as part of the hiring decision. Employers are regulated on the extent that credit reports can be used in the hiring process. If... Read More



July 23, 2014

Can Our Mixed Use Condominium Get Approved with FHA?
Can Our Mixed Use Condominium Get Approved with... Read More



July 22, 2014

I was in the Charlotte Observer on Saturday!
I was in the Charlotte Observer on... Read More



July 21, 2014

Everything I Needed to Know About Business, I Learned in a Restaurant
Everything I Needed to Know About Business, I Learned in a... Read More



July 20, 2014

Our First Email Campaign
It was long overdue but we have finally begun an email campaign.  We would have tackled it sooner but have focused our energy on face-to-face meetings and on blogging/social media.  Our first emailing went out this week to our mailing list... Read More



July 20, 2014

Summer Selling - Maybe It's Not the Time to Conserve!
Patricia Kennedy is a real estate agent and blogging extraordinaire in Washington DC.  Her real estate blog is one of the most prolific that you will find online.  She regularly posts articles that are pertinent... Read More



July 14, 2014

I am the Chairman of the Board of Finance
I am the Chairman of the Board of... Read More



July 14, 2014

Thrifty Thursdays – Homemade Shampoo
Thrifty Thursdays – Homemade... Read More



July 12, 2014

Updating Meta Tags – SORRY About the Spam!
Updating Meta Tags – SORRY About the... Read More



July 11, 2014

Does Our Condominium Project Qualify for an FHA Approval?
Does Our Condominium Project Qualify for an FHA... Read More



July 10, 2014

All You Need to Know About FHA Site Condos
All You Need to Know About FHA “Site... Read More



July 9, 2014

Is a Right of First Refusal Acceptable to FHA?
Is a Right of First Refusal Acceptable to... Read More



July 8, 2014

What is a Multi-Unit Condominium?
What is a Multi-Unit... Read More



July 4, 2014

How Long Does it Take to Obtain an FHA Condo Approval?
How Long Does it Take to Obtain an FHA Condo... Read More



July 4, 2014

I Unplugged Yesterday
I Unplugged... Read More



July 2, 2014

Two FHA Handbook Sections Released for Public Comment
Two FHA Handbook Sections Released for Public... Read More



July 1, 2014

Hamden Connecticut Condo Sales
Hamden Connecticut Condo... Read More



July 1, 2014

I Hope That I Wouldn’t Have Said That
I Hope That I Wouldn’t Have Said... Read More



June 29, 2014

FHA Reverse Mortgage New Principal Limit Factors
Reverse Mortgage (HECM) New Principal Limit... Read More



June 28, 2014

FHA Condo Approvals – What About Pending Litigation?
FHA Condo Approvals – What About Pending... Read More



June 27, 2014

FHA Site Condominiums – Can the Association Mow the Front Yards?
FHA Site Condominiums – Can the Association Mow the Front... Read More



June 26, 2014

Can We Cap the Percentage of Investors in Our Condominium?
Can We Cap the Percentage of Investors in Our... Read More



June 24, 2014

FHA/VA Condo Approvals – What Sets Us Apart?
FHA/VA Condo Approvals – What Sets Us... Read More



June 23, 2014

VA Condo Approvals – When an “Approval” May Not Mean What it Says
VA Condo Approvals – When an “Approval” May Not Mean What it... Read More



June 21, 2014

New Guidelines for FHA Reverse Mortgages (HECMs)
New Guidelines for FHA Reverse Mortgages... Read More



June 20, 2014

What is a VA Condominium Project Approval?
What is a VA Condominium Project... Read More



June 19, 2014

VA Condo Approvals – Leasing Restrictions
VA Condo Approvals – Leasing... Read More



June 18, 2014

I Was Wrong; And I Am Embarrassed
I Was Wrong; And I Am... Read More



June 17, 2014

The Condominium is Non-Warrantable But Can I Do VA Financing?
The Condominium is Non-Warrantable But Can I Do VA... Read More



June 15, 2014

How To Place an Image Caption - Thank You ActiveBob!
How To Place an Image Caption - Thank You... Read More



June 13, 2014

A Unit Owner's Compelling Argument for FHA Condo Approval
A Unit Owner's Compelling Argument for FHA Condo... Read More



June 13, 2014

Pleasant Hills Condos APPROVED in One Month…and Four Years
Pleasant Hills Condos APPROVED in One Month…and Four... Read More



June 13, 2014

My Dream Home – June Contest by Beazer Homes
My Dream Home – June Contest by Beazer... Read More



June 13, 2014

The Blue Sign! YOU Will Pay to Fix that Street in Leon County, Florida
Fred Griffin is an extremely knowledgeable and friendly real estate broker in Tallahassee, FL.  His blog is one that I read frequently as his tips and educational information are top-rate. In the article below, he discusses how the color of the street sign can possibly... Read More



June 13, 2014

Manchester Connecticut Condos NEED to Get FHA-Approved
Manchester Connecticut Condos NEED to Get... Read More



June 13, 2014

Manchester Connecticut Condo Sales
Manchester Connecticut Condo... Read More



June 13, 2014

Condo Units Make Sweet Investments…Which Can Lead to Problems
Condo Units Make Sweet Investments…Which Can Lead to... Read More



June 13, 2014

You Are the First Agent to Ask for That
“You Are the First Agent to Ask for... Read More



June 13, 2014

How And When FHA Monthly Insurance Premium (MIP) Maybe Canceled
George Souto is a mortgage broker with McCue Mortgage in Connecticut, an avid blogger and one of the nicest guys that you would ever want to meet.  His daily articles about the mortgage industry are must-reads for agents and loan officers alike.  His clear and detailed writing style... Read More



June 13, 2014

Rocky Hill Connecticut Condo Sales
Rocky Hill Connecticut Condo... Read More



June 13, 2014

Units in The Hamlet of Enfield are Selling Again Thanks to FHA
Units in The Hamlet of Enfield are Selling Again Thanks to... Read More



June 13, 2014

Dispelling Myths About FHA Borrowers
Dispelling Myths About FHA... Read More



June 13, 2014

Why FHA’s Loans Out-Perform Fannie Mae’s: “Compare Ratios”
Why FHA’s Loans Out-Perform Fannie Mae’s: “Compare... Read More



June 13, 2014

Illegal, unethical, immoral, or against the rules?
  Richard Weisser is a technologically-savvy real estate broker in Newnan, GA.  His blog is among my most favorite to read because his articles are entertaining, accruate, short and concise with a small helping of humor and attitude.  If you haven't... Read More



June 13, 2014

Southington Connecticut Condo Sales
Southington Connecticut Condo... Read More



June 13, 2014

Ken Harney Beats the FHA Condo Approval Drum…Again
Ken Harney Beats the FHA Condo Approval... Read More



June 13, 2014

An FHA Condo Approval Will Let in the “Riffraff”? Um, No.
An FHA Condo Approval Will Let in the “Riffraff”?  Um,... Read More



June 13, 2014

FHA Lifetime Mortgage Insurance is Garbage
FHA Lifetime Mortgage Insurance is... Read More



June 13, 2014

Middletown CT Condo Sales
Middletown CT Condo... Read More



June 13, 2014

East Hartford Connecticut Condo Sales
East Hartford Connecticut Condo... Read More



June 13, 2014

Memorial Day Ceremony – Somers CT
Memorial Day Ceremony – Somers... Read More



June 13, 2014

Social Media Killed the Deal!
  Karen Feltman is a relocation specialist in Cedar Rapids, Iowa.  I missed this article that she posted below a few months ago but caught it on a... Read More



June 13, 2014

Want to be a Successful Agent? Learn to LISTEN
Want to be a Successful Agent?  Learn to... Read More



June 13, 2014

Now This is What I’m Talkin’ About! Thank you OCAR!!
Now This is What I’m Talkin’ About!  Thank you... Read More



June 13, 2014

This is the Perfect Career for Me
This is the Perfect Career for... Read More



February 6, 2014

FHA Condo Approvals – What Difference Does It Make?
FHA Condo Approvals – What Difference Does It... Read More



January 21, 2014

Can We Get FHA Approved if the Developer Owns Units?
... Read More



December 3, 2013

FHA Condo Approvals - Transient Leasing Form Requirement Extension for Lenders
FHA Condo Approvals - Transient Leasing Form Requirement Extension for Lenders This week, HUD announced that it will delay the implementation of the requirement for lenders to obtain executed form HUD-92561 from borrowers at the closings for condominium units in certain... Read More



November 19, 2013

Are Second Homes Considered Owner-Occupied or Investor-Owned?
... Read More



November 18, 2013

VA Condo Project Approvals – Pre-Sale Requirements
... Read More



November 15, 2013

FHA Certification and Your HOA
FHA Certification and Your... Read More



November 12, 2013

Can a Condo Board Publish a "Shame" List?
Can a Condo Board Publish a "Shame"... Read More



November 12, 2013

Condo Buyer Issues with FHA Financing
Condo Buyers' Issues with FHA... Read More



November 5, 2013

FHA Condo Approvals – Maximum Loan Amounts
  A property manager with whom I am working in Dallas, TX, linked me up with another property manager in his office who had questions about FHA condominium approvals.  This one dealt with FHA’s maximum loan amounts.   She... Read More



November 5, 2013

HUD Back to Work in Full Force
HUD is back to work in full force on the FHA condominium approval side of things.   Since returning from the furlough, the condominium project review department has been absolutely cranking out files.  Some files that I had submitted just prior to the shutdown... Read More



November 3, 2013

FHA Condominium Approvals - The Basics
FHA Condo Approvals – The Basics   Following a post from earlier this week, I was asked about the basics for FHA condo project approvals.  Last month, I attended a training administered by HUD on this very topic.  The training lasted all day and the... Read More



November 3, 2013

What Do Your Social Media Icons Spell?
What Do Your Social Media Icons Spell? In trying to decide what to post first, I thought that it would be best to... Read More



November 3, 2013

What Do Your Social Media Icons Spell?
What Do Your Social Media Icons Spell?   In trying to decide what... Read More