FHA Financing on condos is about to go from a flood to a trickle starting Oct. 1, 2009

The Spot approval process is going to be eliminated which means that FHA will not do financing for condos anymore without going through a LONG & SLOW process. So until the condo complex is approved, FHA financing is not an option.

So if you are looking to sell your condo is it time to do so before this hits on Oct. 1, 2009. Buyers won’t be able to get financing with FHA and that will wipe out a lot of your 1st time home buyers that buy condos.

If you are looking to buy a condo we need to get you closed on it before Oct. 1, 2009.  Let me know so we can start looking for the perfect condo for you.