FHA has set up an on-line mailbox created for all condominium inquires. Lenders, trade associations, industry professionals and other interested parties are now able to send inquiries to www.CondoProjectApprvoalInquiries@hud.gov
According to FHA, questions will be answered within 24-48 hrs unless additional research is required. If additional time is required, the inquirer will be advised that there is a delayed response forthcoming.
This will go a long way in answering questions that are arising from their efforts to open up financing of Condominium Projects in today's market.
3/23/2010
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