HOAleader.com - Tip of the Week - December 20, 2019
Published: Fri, 12/20/19
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Want to Get Your Condo FHA Certified? Here’s a Head Start
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In this week's tip, we respond to a reader's direct request.
An HOAleader.com reader asks us to follow up on our article from last month on certification through the Federal Housing Administration's program for approving condominiums for loans backed by the federal government.
The request: Please provide information on how to identify whether your condo is certified and steps to follow to get certified.
We can readily answer our reader's first question: How do you know if your condo is certified?
David Firmin, managing partner at Altitude Community Law PC in Lakewood, Colo., with satellite offices in Loveland and Colorado Springs, provided an easy way to check whether your condo association is currently FHA certified; just input the required data at this link: https://entp.hud.gov/idapp/html/condlook.cfm
If your condo isn't certified, now what?
"The condo should submit all of their documents through their regional homeownership center," advises Megan Booth, director of federal housing, valuation, commercial real estate policy and programs at the National Association of REALTORS®, which lobbied for years for the government to loosen FHA condo certification requirements. That link is here:
https://www.hud.gov/program_offices/housing/sfh/sfhhocs
As for the requirements? They begin on p. 510 in the U.S. Housing and Urban Development handbook, she adds. Booth is working on a checklist that REALTORS® can share with condo boards outlining the documents needed and the requirements to qualify. You'll find the list of what to include in your application on page 535. The section covering the application process spans 27 pages.
Need more information? Here's a summary of ways to contact the FHA (https://www.hud.gov/program_offices/housing/sfh/fharesourcectr), but maybe you should just go to the top? To call the director of the regional HOC in your area, use this contact information:
*Philadelphia—Julie Shaffer, 215/861-7216
*Atlanta—N. Dan Rogers III, 678/732-2389
*Denver—Scott Bice 303/675-1639
*Santa Ana, Calif.—Thomas Rose, 714/955-0920
As you wade through the requirements, you might just want to think about whether it's wise for you to go it alone on FHA certification. Our experts have varied opinions on whether you can even accomplish that. Find out why in our new article: https://www.hoaleader.com/members/4035.cfm
Best regards,
Matt Humphrey
President
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Recent articles posted at HOAleader.com:
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Whoooooo Should Install a Barn Owl Box in an HOA?
Is your HOA or your owners having problems with gophers, rats, or other small rodents? Barn owls are natural predators of those pesky rodents, which is why some associations and homeowners are installing a barn owl box on common area or owners' property.
Click here to read full article:
https://www.hoaleader.com/members/Whoooooo-Should-Install-Barn-Owl-Box-in-HOA.cfm
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Can This Condo/HOA Board Vote to Change a Meeting Date by Email?
An HOAleader.com reader asks, "Between board meetings, the president sends a message to board members only requesting change of meeting dates. Can the board members vote by email?"
Click here to read full article:
https://www.hoaleader.com/members/Can-This-CondoHOA-Board-Vote-Change-Meeting-Date-by-Email.cfm
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How to Pursue Suspected Condo/HOA Fraud When the Authorities Don't Seem Interested
An HOAleader.com reader asks, Ten years ago we had $200,000 in reserves. I took over last year as president, and there was $12,000 in reserves. I saw that the former president also was the treasurer, and he owned the landscaping company and had a debit card he used for his landscaping business.
Click here to read full article:
https://www.hoaleader.com/members/How-Pursue-Suspected-CondoHOA-Fraud-When-Authorities-Dont-Seem-Interested.cfm
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Is There Any Situation in Which This Insurance Agent Isn't Pulling a Fast One On This Association?
An HOAleader.com reader asks, "Our agent told us that if we get other quotes it's unethical and will jeopardize our chances for getting insurance through our current companies. Does anyone know Florida law regarding insurance? I believe our agents are screwing us."
Click here to read full article:
https://www.hoaleader.com/members/There-Any-Situation-in-Which-This-Insurance-Agent-Isnt-Pulling-Fast-One-On-This-Association.cfm
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California's New Accessory Dwelling Unit Law: What HOA Boards Need to Know
A new California law designed to ease the affordable housing crisis authorizes owners to convert their garage and even add a small accessory dwelling unit to their yard - even if their HOA prohibits such changes.
Click here to read full article:
https://www.hoaleader.com/members/Californias-New-Accessory-Dwelling-Unit-Law-What-HOA-Boards-Need-Know.cfm
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