HomeBridge is pleased to announce that we are amending our policy regarding the number of days late allowed on past due homeowner’s association (HOA) assessments to align with HUD guidelines.
Effective immediately, FHA condominium eligibility will be subject to the following:
- No more than 15% of the total units can be no more than 60 days past due on their HOA dues. All units, occupied, investor, bank owned, and vacant are included in the 15%.
NOTE: Current policy is no more than 15% can be more than 30 days past due.
The HomeBridge FHA HOA Certification Form has been updated and posted on the HomeBridge website at www.homebridgewholesale.com.
If you have any questions, please contact your Account Executive.