15% condo fee delinquency

By: choicefinance.net
In: Uncategorized
124points

Does anyone have a program that allows the number of unit owners who are more than 30 days late on their condo dues, to exceed 15%?? If so, what is the minimum down payment requirement. Is it a portfolio product. HELP!

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Answer #1

The only way it can be done is DU (Desktop Underwriter) Limited Review and the ratio is not mentioned in appraiser's report.

HUD does allow on a re-certification or new project approval a delinquency ratio of 20%. However, these are approved by HUD.

Answered By: choicefinance.net Level Rating

124points

Answer #2

Yes, looks like FHA allows up to 20%

Answered By: choicefinance.net Level Rating

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