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Is your condo warrantable for FHA financing?

By Attorney/Best-Selling Author William Bronchick
April 26, 2010
Everyone knows the market value of some condominiums has been hammered.  One possible reason—and perhaps a bigger factor in the future—is the recent launch of the HRAP/DELRAP system by the Federal Housing Administration. In effect, the system declares certain condo developments “off limits” for FHA loans.  There are a few financing alternatives, which I was able to touch on briefly in the final paragraph.  Read the story in today's Denver Post: FHA rules may tip condos over financing edge You can link directly to the HRAP/DELRAP database here, and search for a specific condo development.  But be aware that the database isn't yet fully populated.  So some developments that deserve a "rejected" rating may yet be added.

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William Bronchick, ESQ.

Nationally-Known Attorney, Author, and Speaker

Attorney William ("Bill") Bronchick, the host of Legalwiz.com, has authored six best-selling books and is sought nationwide for his 30+ years of real estate and legal knowledge. He has been interviewed by numerous media outlets, such as CNBC, TIME Magazine, USA Today, Investor Business Daily, Forbes, and the LA Times, to name a few. William Bronchick is the co-founder and past President of the Colorado Association of Real Estate Investors and the President of the Colorado Landlords Association. Click on the "About" link above for more information on William Bronchick.

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