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 |...

#SocialCurrentSee ®▶ #FHAnswers * ( #ALTACITIES archive by @ALTALOMAN · @Storify https://t.co/r1Ra0pjzY2 — Mike Foxworth (@ALTALOMAN) May 23, 2016 First-time condominium buyers soon discover the potential complications of their purchases, as partially explained in the following  #SocialCurrentSee . As the owner of a condo in a Southern California Inland Empire community of Trilogy Glen Ivy (south of Corona) we are personally familiar with these complications, but also the advantages of living in a condo with regard to maintenance, amenities, and affordability for what is generally a pricey marketplace for all real estate. Within our community of some 1317 residents who are required to be 55+, there is a known interest in the subject of reverse mortgages, but that option is not currently available for the some 180+ condominium owners because the community is not FHA-certified.  For that reason, the preface archive (see tweet above) may be timely, indeed. A...

#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...