With all the corruption, mismanagement and misdealing by the uncontrolled boards of many condo associations, how can the FHA even dream of easing up borrowing standards to get more condo owners into these federal loans?
In light of all the recent problems with theft, corruption, deferred maintenance, condo conversions to apartments, and landmark defect awards, this is lunacy and a federal government out-of-control.
Before putting billions more taxpayer dollars at risk, it’s time for the feds to start investigating and solving some of the fundamentals.
WASHINGTON — Could the Federal Housing Administration (FHA) finally be opening its doors again to financing more condominium units? If so, that could be excellent news for young, first-time buyers and for seniors who own condo units and need a reverse mortgage to supplement their post-retirement incomes.