Starting October 1st, 2009
HUD said they will be changing the guidelines and remove “Spot Check” approvals and the Condo Building must already have it’s FHA Warranty. 

When searching condos at choicerealestate.net, the listing will let you know if it is already FHA approved.  Choicerealestate.net will also give you a link to verify the FHA warranty on HUD’s website.
Here is a sample listing at Parkside that verifies it is FHA APPROVED

Here is also a well written article on this new guideline, http://www.zillow.com/blog/mortgage/2009/07/21/new-fha-guidelines-could-change-the-condo-market-forever/

BJ Matson, 240-281-6732
Montgomery County Realtor®
choicerealestate.net contributing writer

This entry was posted on Thursday, August 13th, 2009 at 4:26 pm and is filed under 3) General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.