Condo Sales Will Increase Now in Texas – FHA Changes Archaic Law – Realtors Super Happy
FHA is relaxing the guideline to approve (insure) loans to buyers. For many years developers would stray away because of the crazy (owner/renter) ratio in the building, which sucked! My friend Tom, almost went bankrupt after developing 8 (townhomes, that had 2 walls connected) declaring it legally a CONDO. Buyers loved the place but could not get a loan, just crazy. Now FHA is relaxing that old loco law.