Hi Cookie; If you really want the Real Answer of why your Condo development all of a sudden is not FHA approved and when bought it was approved. Keep Reading to the end!
Just go the website where all mortgage lenders, loan officers search upon writing a mortgage application or really prior to giving a reassurance that the FHA sale will go through. Many agents do not realize and take these extra steps and research if the condo dev they are listing and selling is FHA approved, until getting buyers/sellers hopes up then finding out, dead deal! Exact site is below for Condo dev of Hilltop and Hilltop Summit. Is that where you live?
As you see on this site there deadlines and expiration dates of approval. Really expired 12/31/2010 for Hilltop. This means you need to obtain for the buyer a Mortgage for a Non-Warrantable Condo which will be a higher rate, conventional financing maybe 95% LTV with (PMI) private mortgage insurance which will be difficult to get approved. At this writing, research we are investigating these options since we are helping other condo owners in Brookhaven. AND the ANSWER you were looking for WHY the development was approved and expired and now in FHA non-compliant for lending. Because there are pending lawsuits on the condo development. For more info, and if you need an Aggressive Knowledge RE Broker, call or e mail, firstname.lastname@example.org , thank you.