Make it easier to use FHA financing to purchase condominiums

N.A.R. has issued a Call-for-Action, urging every REALTOR® to contact the U.S. Senate in support of HR 3700, a bill that will make it easier to use FHA financing to purchase condominiums. C.A.R. strongly supports this effort and is asking that every California REALTOR® take just a minute to send this very important message to our U.S. senators.

To respond to N.A.R.’s Call-for-Action in support of H.R. 3700

It is estimated that only 10 percent of condominiums nationwide have made it through the burdensome, time-consuming and expensive FHA-approval process. By dramatically restricting the number of condos available to homebuyers, FHA is limiting the often most affordable, appropriate choice for many families.   

H.R. 3700, the “Housing Opportunity through Modernization Act,” will simplify the FHA condominium approval process, allowing more families to use FHA financing. The bill was passed unanimously by the House of Representatives, but Senate leadership has not scheduled it for a hearing.

Please support H.R. 3700 by responding to N.A.R.’s Call-for-Action TODAY. 

For background and key issues follow this link