I just received this and thought I’d share it with you regarding financing FHA approved condos in the Tampa Bay area.
Major changes to Condo Approvals
As of October 1, 2009 ALL FHA condo approvals will be GONE. We will be starting from scratch with NO approved projects untill Lenders start submitting approval packages to HUD. It is imperative that realtors understand the need to move listed condos NOW and not to wait. We also need to advise the sellers that the FHA loans on the condos will come to a sreeching halt for a period of time. Buyers needed to move on the condo ASAP. Who knows when the project will get on the approval list. If the project was approved after October 1 2008 the approval will be valid for FHA loans.
Please relay that to the buyer or loan officer so that they understand we might be in for some serious delays if they have to go and approve the building again….
If you are looking to buy a condo in Tampa Bay, and need to use FHA financing I have a list of approved buildings. Email me realtyrae@yahoo.com, or call me 813 784 7744
Thanks!
Rae
