One of the most contentious aspects of living in a common interest development, aka homeowners association (HOA) is the reality of regular and special assessments, not to mention emergency assessments. Our frequent source for commentary on such matters is the blog INDEPENDENT AMERICAN COMMUNITIES, so we invite a reading of and comments about the clip below. CANSWERIST.COM

Condo owners and would-be buyers are monitoring this news from the FHA and home mortgage front. The topic has particular interest for condo owners who are now seeking reverse mortgages now or in the future. At our HOA community, TRILOGY Glen Ivy, we have lacked this FHA certification mainly due to a side issue that relates to the presence of our community enhancement fund. This requires that all close escrows on properties sold are required to pay a .5% fee on the sales price to the enhancement fund that is managed by a separate nonprofit board aligned with our HOA governing board, but not controlled by that board. The FHA alarms about HOA community enhancement funds seems to be a bogus issue.  Why haven't the Feds concluded that these funds are actually a way communities can pay for improvements without raising regular dues? #FHAUpdate Flip②▶Home ♥ Worth on Flipboard |  http://flip.it/ZW4Jq Archive includes ... ▶ New bill brings good news for condo buyers |...

#ALTACITIES Q&A : Impact of reverse mortgages on associations is minimal https://t.co/DXvtmaI0dx — Mike Foxworth (@ALTALOMAN) February 13, 2016 VIDEO : REVERSE MORTGAGES Q&A ▶ CLICK on this LINK to find answer to this question: I serve on the board of my condominium association and one of the issues we have been hearing a lot about recently are “ reverse mortgages .” Are there any specific concerns a condominium association should have with owners taking out such mortgages and does the association’s rights regarding unpaid assessments differ when a unit is subject to a reverse mortgage? ANSWER VIDEO ARCHIVE #ReverseMortgages Guelph Mortgage Broker reveals Reverse Mortgages: What You Need To Know… https://t.co/xNuTH0HSNg https://t.co/PZSh8HGTzh — EZqualifying (@EZqualifying) February 13, 2016 BROWSE ON PURPOSE More than 1,200 in NJ have lost homes after taking reverse mortgages, report says https://t.co/xV9cQFYjqP — HughesC...

Our 1317-unit HOA (with 170 condo owners within) is not fully available to all potential buyers.  The community south of Corona in the Southern California Inland Empire is not FHA certified for a couple of reasons: 1) the existence of a a mandatory, developer imposed community development fund that places an escrow fee of .5 percent of the sale price on all properties, and 2) a specific unresolved legal case by the HOA against the original developer of a backroom deal for telecommunications. Such impediments to FHA (even VA) certification are not unusual, but the State of California now requires HOAs to make these disclosures public.  That could be a good thing. Flip②▶ STORIFY  ♥  FLIPBOARD  ★  BLOGGER  ▲ ALTACITIES  © Now with 3,600+ followers on  http://socialcurrent see.com  and the sites above  in affiliation with   http://demaconnect.com [ View the story "Financing your HOA buy via FHA, VA?" on Storify ] ...

Flip②▶ STORIFY ♥ For the typical homeowner, two dates are the primary focus of this post: 1) Date when you buy your home 2) Date when you sell your home For those of us who are 65+, now living in what we thought was our final home ownership transaction, the first date is history and the second date is unknown and may never happen in our lifetime. But if that does happen, your considerations may revolve around the current viability of the marketplace which begs the questions: Who is available to buy my place?  How many buyers are eligible? Those eligibility factors often relate to financing and approvals for different types of financing, including not just conventional, but also VA and FHA.  As for the later, here is a glimpse at some 'social current see' on that topic.  Be sure to read the marginal comments that follow. [ View the story "What is FHA certify?" on Storify ] Enter your email address: Delivered by FeedBurner Not sure what to do ...