Monday, December 13, 2010

FHA Condo Extension Granted!

FHA Condominium Project Approvals Expiration Dates Extended:
FHA announces extension of condominium project approvals with an expiration date of December 7, 2010. Provided below are the extension dates based on five-year time frames with the exception of those condominium projects with original approval dates from 1972 -1985.
Initial Project Approval Dates   Current Expiration Date          New Expiration Date
1972  1980               December 7, 2010                 December 31, 2010
1981  1985               December 7, 2010                 December 31, 2010
1986  1990                      December 7, 2010                 May 31, 2011
1991  1995                      December 7, 2010                 July 31, 2011
1996  2000                      December 7, 2010                 August 31, 2011
2001  2005                      December 7, 2010                 September 30, 2011
2006  2008 (Sept)        December 7, 2010                 March 31, 2011
The extensions were granted to reduce the impact of processing and reviewing the number of project approvals expiring at the same time while recognizing current housing market conditions.
Lenders and/or other interested parties are encouraged to begin the re-approval or recertification process as early as possible as it is not anticipated that any further extensions of project approvals will be issued.
The Condominium look-up page and the FHA Connection databases were updated on December 7, 2010 and now reflect the extended expiration dates. The links to the sites are:
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