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Home Equity Conversion Mortgage Insurance; Right of First Refusal Permitted for Condominium Associations

HUD · hud-fha · Published 1998-04-09 · Effective 1998-05-11 · 63 FR 17654

Document

Document number
98-9419
Federal Register citation
63 FR 17654
CFR reference
24 CFR 206
Type
Rule
Action
Interim rule.
Category
hud-fha
Agency
US Department of Housing and Urban Development
Publication date
1998-04-09
Effective date
1998-05-11
Docket
Docket No. FR-4267-I-01

Abstract

This interim rule removes, for the Home Equity Conversion Mortgage (HECM) insurance program only, the current restriction on FHA mortgage insurance for a dwelling unit in a condominium project where the condominium association has a right of first refusal to purchase units that are offered for sale. As a result of this change, some condominium units in projects may be approved for the HECM program.

Source

Authoritative
Federal Register document
Machine
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