FHA Condominium Recertification May Hurt Condo Sales
December 3, 2010 by admin · 5 Comments
08/23/10 HUD issued updated/revised processing requirements for recertifying FHA approved condominium projects that expire 12/07/10. In this same document HUD mandated that all projects which received approval prior to October 1, 2008, will require recertification on or before December 7, 2010 (more than 10,000 in the United States). Further, every FHA project certification will require [...]
5th and Main Condos Boot Renters Out
April 13, 2010 by admin · 18 Comments
In the wake of the project losing FHA certification, the lender is quietly booting ‘lease purchasers’ out of the building who have no intention of consummating a purchase. Why? It’s simple. Under HUD’s revised rules, a condo development must be at least 50% owner occupied in addition to at least 30% sold or under contract [...]
5th & Main Condos in Nashville Lose FHA Certification, Again
March 30, 2010 by admin · 5 Comments
Call it fate, bad luck, the yo-yo effect or whatever you may, according to HUD’s website, the 5th & Main condos have lost their FHA certification for the second time in the past 9 months. As you may recall, the condos entered into receivership in February 2009, but began to show signs of life as [...]
For a decade, Grant Hammond has been a leader in the greater Nashville real estate marketplace. In the first half of 2011, he is again the top producing Realty Executives broker in Middle TN.
