Any business owner who has passed a certain number of milestones in their career will eventually come to the realization that they should consider planning for the future of their business. For example, what will happen to the business when you retire? Will the business continue after your death? Do your heirs haveGo to Resource
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Last week the FHA Commissioner announced that FHA’s new mortgage insurance premium structure will become effective with new loans starting October 4, 2010. The new structure will result in a lower upfront premium but an increase in the annual premium. The question is what impact will this have on our ever-so-fragile real estateGo to Resource
Does your condo association have limited common element balconies? Are owners required to maintain them? Does the association and/or the owners understand the waterproofing system and how to maintain the balcony decks so that leaks don’t damage the common area and other units? If you answered “yes” to the first two questions andGo to Resource
“Back in the day” it was easy to get a loan if you had a credit score of 800, if you had a banking relationship, and had 20% down. In today’s world that might not be enough. As this complaint shows, lenders are scrutinizing condominium association finances and financial protections. FHA, Fannie MaeGo to Resource
CAI has filed an administrative challenge to provisions of the FHA Mortgage Insurance Guidelines issued on June 30, 2011, with the Office of Information and Regulatory Affairs. To read more about the challenge see CAI’s Mortgage Matters Blog. If your condominium community has not yet sought FHA certification time may be running outGo to Resource