Procrastination

Well it looks like the final leg of the Housing Recovery Act, that expires on December 1st, will come to a quicker close. The program was established for first-time buyers provided them an $8,000 credit in their income taxes if they qualify. Well on October 1st, the Federal Housing Authority (FHA) is putting it to an early grave for some first-time buyers, specifically condominium purchases. Nationally each condo association that is certified for FHA financing will need to renew their certification. That's Nationally, meaning every condo in the United States with certifications older than 2008. The big question is who will be doing the certification, management company's more than likely. Are they ready? We will have to see.