FHA Reforms Needed In Condo Financing

Dated: 10/25/2016

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National Association of REALTORS® President Chris Polychron testified before a House subcommittee Wednesday in support of legislation that would help expand housing opportunities, stressing the need for reform of current Federal Housing Administration restrictions on condo financing.

Condominiums are often the most affordable home ownership option for first-time buyers, small families, single people, urban residents, and older Americans.” Polychron testified. “Unfortunately, current FHA regulations prevent buyers from purchasing condominiums, harm home owners who need to sell their condominiums, and limit the ability of condominium projects to attract resident buyers

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