I just heard word that the new FHA guidelines (Mortgagee Letters - scroll down to 9-01) are being delayed "indefinitely". I've been told the new effective date is "sometime in January or February", however no formal announcement has been made yet and there is currently no indication of when one will be given to the public. I would assume from this however that FHA is taking a more serious look at what will happen when the changes, as they stand, are enacted, and possibly, taking a second look at those changes and re-evaluating them on their merit and how they will affect the condo markets across the nation. Ha, maybe the even read my blog from earlier this month?! America, Meet the New FHA Condominium Guidelines
One would hope the FHA is getting wise to what would happen in these markets with the harsh changes they had earlier proposed.
Has anyone found further information on these cutting-edge changes?
Posts
