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jmcclain81
68 Posts |
 Posted - 07/22/2008 : 09:34:53 AM
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| I have a condo in CT that is not FHA approved. We have a complete file but were just told that the condo has first right of refusal and this is why the association is not FHA approved. Does anyone know any way around this or anyway this loan could be done FHA. The LTV is too high to go conventional. Thanks. |
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Xanthan Gum
907 Posts |
Posted - 07/22/2008 : 09:36:38 AM
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| There is no way around it. Customer will need to qualify conventional or find a new property. |
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BB
989 Posts |
Posted - 07/22/2008 : 1:34:27 PM
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| Many of the older condos had the first right of refusal clause. See if the assoication will amend the bylaws. If it is a small one you might have a chance. |
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