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Why Do I Keep Hearing About 24CFR203.41?
After working with FHA Condominium Project Approvals even for a short time, you will run into a condominium’s legal documents that...
Neil Caron
Dec 10, 20142 min read
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This Leasing Restriction Will Prevent FHA Condo Approval
I recently fielded a referral from a reverse mortgage broker. His client lives in a condominium and cannot obtain a reverse mortgage due...
Neil Caron
Dec 9, 20142 min read
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Condominiums Spent Budgeted Reserve Contributions Elsewhere
In recent months while assisting condominiums to get certified and recertified with FHA, we are running into an issue that is a fairly...
Neil Caron
Nov 25, 20142 min read
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Conventional Condo Loans Rejected for Comments on FHA’s Site
Recently, we were contacted by a property management company for assistance with an FHA condominium project approval. The project had...
Neil Caron
Nov 19, 20142 min read
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The Return of FHA Spot Condo Loans?
This past weekend, I was mentioned in a Ken Harney article (shameless self-promotion). He called me two weeks ago to revisit a topic...
Neil Caron
Nov 14, 20143 min read
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Ken Harney’s Beating On FHA Again
This past weekend, I was mentioned in a Ken Harney article . He called me two weeks ago to revisit a topic that we had discussed in...
Neil Caron
Nov 12, 20142 min read
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That’s Your Dog’s Poo - I Have the DNA to Prove It
Over the weekend, we exhibited at the CAI New Jersey Conference and Expo. There was a fantastic turnout and we met a lot of people. The...
Neil Caron
Nov 11, 20141 min read
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Visit RSL Condo Team at the CAI-NJ Expo on November 8 at Booth 529
Stop by booth 529 at the CAI-NJ Annual Conference and Expo this Saturday, November 8, 2014 to welcome the newest members of CAI-NJ: RSL...
Neil Caron
Nov 7, 20141 min read
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FHA Rejected Condo for Transient Usage
Last year, HUD released FHA Info #13-42 which clarified its stance on Transient Usage as it pertains to condominium project approvals....
Neil Caron
Nov 4, 20143 min read
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FHA Condo Guidance on Investor Ownership
In Mortgagee Letter 2012-18 , HUD issued guidance for condominium processing and approvals regarding a number of criteria. This...
Neil Caron
Nov 3, 20143 min read
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Are Second Homes Considered Owner-Occupied or Investor-Owned?
Recently, we received an incoming inquiry generated from our pre-qualification page on the company’s website. We reviewed the answers...
Neil Caron
Nov 3, 20142 min read
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Lender Won’t Close the FHA Condo Loan
We have discussed in a previous article that an FHA condo loan can still close even if the condominium’s FHA approval has expired. That...
Neil Caron
Oct 28, 20142 min read
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Retirement Income Crisis
I'm sharing an article from the Wall Street Journal showing just how very bad the retirement income crisis currently is and it is...
Neil Caron
Oct 24, 20141 min read
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How Many Community Associations Are in Your State?
The Community Associations Institute (CAI) publishes a report about the national statistics of community associations. Among other...
Neil Caron
Oct 12, 20141 min read
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What is the Difference Between a Condominium and a Townhouse?
I can answer this in one sentence: a condominium is declared a condominium. Yes, it is really that simple but I have read several...
Neil Caron
Oct 12, 20144 min read
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How Do I Know If I am Responsible to Fix Something?
Condominiums and planned communities (and cooperatives) are forms of common interest ownership and when something breaks, leaks or...
Neil Caron
Oct 12, 20144 min read
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It’s Budget Season - Don’t Forget About Reserves!
For many condominium association Boards of Directors, it’s budget season as the members work to produce a budget for the start of the new...
Neil Caron
Oct 9, 20142 min read
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Condo Unit Takes Almost a Year to Sell
Cindy Jones is a Real Estate Agent with Integrity Real Estate Group in Northern Virginia. She is an avid blogger who I follow and...
Neil Caron
Oct 7, 20142 min read
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Harvard/AARP Report: Reverse Mortgages Can Help Seniors
Reverse Mortgage News from Lou Romney : Harvard University & AARP recently released the results of a new study showing the DIRE need for...
Neil Caron
Oct 1, 20142 min read
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Lincoln Rhode Island Condo Sales 2013
As we make our marketing push into our neighboring state of Rhode Island, we must be able to speak intelligently about the condominium...
Neil Caron
Sep 24, 20142 min read
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