Fremont Real Estate and Beyond

For the average Joe, it can be frustrating to look for HOA rules and regulations for a development.  A new website is launching in Florida and Maryland in January as a tool to see all the details of any HOA.  Hopefully they will be able to launch nationally! More info-- http://nationalhoadatabase.com/ https://www.inman.com/2016/11/28/could-the-national-hoa-database-serve-up-transparency/

First Tuesday created a great summary on the pro's and cons of FHA's loosening of their condo approval guidelines. http://journal.firsttuesday.us/fhas-new-condominium-approval-guidelines-expand-eligibility-and-potential-hoa-mismanagement/49294/ The  Federal Housing Administration (FHA)  recently announced new temporary approval provisions for issuing FHA-insured financing to buyers of units within a condominium project. FHA-insured financing allows buyers to make smaller down payments and obtain mortgages with  loan-to-value (LTV) ratios  greater than 80%, which shifts the increased risk of loss on a default to the FHA in exchange for a premium. Previous FHA approvals  required condominium projects and their homeowners’ associations (HOAs) to meet eligibility criteria. If not approved, buyers cannot use FHA-insured financing to purchase a unit in the project from a seller who is an owner or member. The FHA has previously required at least 50% of the uni...

An interesting article from the LA Times came up about HOAs trying to get top repayment priority post foreclosure of a property.  This can't happen in California (phew!) but if it ever did, it would make financing condos/townhomes/PUDs, and other properties with HOAs extremely difficult. http://www.latimes.com/business/la-fi-harney-20150513-story.html#navtype=outfit