What is the difference between a condo association and a Homeowner's Association (HOA?) A Condominium Association (also known as a Condo Association,) is an association of owners usually in a building or multiple buildings divided up into separate homes. The owners of the condo units generally own their individual unit as well as shares in [...]
Timonium, Maryland in Northern Baltimore County is a popular place to live. Timonium has many homes from single family houses to townhomes, condos and apartment communities. I recently sold another Roundwood Ridge condo in Timonium. The fifth floor location overlooking the courtyard between the Roundwood Ridge buildings was ideal for this buyer. This Mays Chapel [...]
Timonium, Maryland in Northern Baltimore County is a lovely place to live! Timonium has many types of homes ranging from single family houses to many types of townhomes, condos and apartment communities. I recently sold a Roundwood Ridge condo in Timonium. The top floor location overlooking the lovely courtyard between the Roundwood Ridge buildings was [...]
Clavon condo at Clementi by UOL just beside Nanhua Primay School, will be getting popularity among parents specially after there is a new FHA Condominium approval rule as of October 15, 2019. The notable change in the rule is that it will allow some individual condominium units to be possibly eligible for FHA mortgage insurance even [...]
FHA condo recertification should get easier, thanks to the passage of H.R.3700 - Housing Opportunity Through Modernization Act of 2016 on July 14. It also lowers the current owner-occupancy from 50% to 35%, which should hopefully make more Baltimore County condominium communities eligible for FHA financing. Right now, there are a number of Baltimore County condo [...]
FHA condo financing has gotten harder for many customers over the past few years. Luckily some changes announced in September could help. The National Association of REALTORS(R) broke down the changes: 1) Investors can buy up to half of project units. The maximum before was 10% investor-owned. 2) More commercial space is allowed in a [...]
Recently, there were changes made to the FHA condo regulations on which projects can be FHA insured or not. According to a Washington Post rundown of the changes, a major one is the "spot approval" that used to be acceptable to be eligible for an FHA loan. Another article goes more in depth on the [...]
12204 Burncourt Road Unit #301 is a gorgeous condo in Mays Chapel North. *SOLD* Located in one of the few buildings that runs front-to-back, this condo can get a cross breeze, and you have the privacy of trees behind. Sitting on the porch feels like sitting in a tree house! Well maintained and upgraded, this [...]
FHA Condo approval expiration dates were extended by the FHA, and this news shared by one of my mortgage partners, Brian Picker, of 1st Mariner Mortgage Corporation. Thank you, Brian! From Brian Picker, 1st Mariner Mortgage: Big news as older FHA Pre-construction Condos in Toronto projects were set to expire yesterday which would have been [...]
With the many changes in the mortgage industry, it is hard to keep up with what deadlines are coming up next. On December 7, 2010, the FHA condo recertification process must be completed by each individual condominium complex in order to be eligible for homebuyers to receive FHA financing in their building. There is an [...]