Mortgage Blog

Here is the latest from FHA. The implementation of FHA's new policy for the number of condo units that can be financed using FHA mortgage and for project approvals limitations is being delayed until Dec 7th, 2009. FHA will be coming out with the "revised" rules in the next couple of weeks but we expect them to allow more than 30% (possibly up to 100%) of condos being able to go with FHA financing. This is a good sign out of the HUD office in Washington! Additionally, lawmakers should have a final vote on extending the tax credit by Friday of this week. As you may or may not already know - we are going to get the extension but we have to wait for the official word out of Washington.