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44670 Ann Arbor Road
Suite 170
Plymouth, MI 48170
(734) 459-0062
(734) 459-5313 fax
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Macomb Office:
50 Crocker Blvd.
Suite 100
Mt. Clemens, MI 48043
(586) 465-1330
(586) 493-9453 fax
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In Alliance with

By appointment at:
Lansing Office:
124 W Allegan St
Suite 100
Lansing, MI 48933
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Detroit Office:
One Woodward Avenue
Suite 1550
Detroit, MI 48226
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Grand Rapids Office:
125 Ottawa Avenue NW
Suite 153
Grand Rapids, MI 49503
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Effective February 1, 2010, the Federal Housing
Administration (FHA) imposed new requirements for
condominium projects. FHA insured mortgages are no
longer available for the purchase or refinance of a
condominium unit unless the condominium project, in
which the unit is located, has been certified by the
FHA. Also, many lenders who process conventional
mortgage loans are now requiring that condominium
projects meet all of the requirements for FHA
Certification before they will grant any conventional
mortgages to purchase or refinance a condominium unit.
There
are some potential risks to eligible condominium
associations that do not pursue FHA Certification.
Frustrated co-owners may take action to find the
association liable for the loss of sales opportunities
due to the association’s refusal to pursue FHA
Certification. Such claims may conceivably include the
argument that property values were diminished on account
of the association’s refusal. There may also be the
possibility of a Civil Rights complaint being lodged
against the association, claiming that the association
had some illegal discriminatory motives to exclude
certain persons from purchasing units in the condominium
complex. These potential risks should be taken into
consideration when deciding whether to pursue FHA
certification for your condominium project.
Our
firm provides assistance to condominium associations
that which to pursue FHA Certification. FHA
Certification is valid for a two (2) year period. Once
the association has obtained initial FHA Certification,
an application for FHA Re-Certification may be submitted
up to six (6) months prior to and after the initial FHA
Certification expiration date. If you are interested in
pursuing FHA Certification for your condominium project,
please contact our office and we will be glad to provide
a proposal for assisting you in this process.
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DISCLAIMER
Zelmanski, Danner & Fioritto, PLLC Law Firm and
its areas of practice.
This website is not intended to be a source of
legal advice.
Results obtained depend on the facts of each
case.
Similar results may not be obtained in your
case.
Visitors to this website should not act upon any
information contained in this website and
without first seeking the advice of legal
counsel licensed in their state. We do not
guarantee or warrant the information contained
in this website.
No action related to transmission, reading, or
submission of information by, from, or to this
website, or to the law firm of Zelmanski, Danner
& Fioritto, PLLC, via this website will create a
contract for representation by the law firm of
Zelmanski, Danner & Fioritto, PLLC. A contract
of representation with the law firm of
Zelmanski, Danner & Fioritto, PLLC, can only be
created after consultation with our attorneys,
and your signature on our standard contract.
Zelmanski, Danner & Fioritto, PLLC, attorneys
make every effort to respond to email inquiries
or case information submissions as promptly as
possible. However, due to depositions, court
appearances, trial calls, meetings, and other
absences from the office, we cannot guarantee
that they will always be able to timely respond
to your questions. If you have a time sensitive
inquiry, please call us at 1-734-459-0062.
We encourage the use of e-mail by our existing
clients and potential clients. However, the
sending of e-mail does not create an
attorney-client relationship. In the absence of
an attorney-client relationship, e-mail messages
are not treated as confidential by our firm.
Non-clients are cautioned against sending
initial e-mails that go beyond general inquiries
about our firm and the services we provide. No
one should send us confidential information by
e-mail unless authorized by one of our
attorneys. To avoid computer viruses,
attachments to email received in our office will
not be opened and will be deleted if the source
is not recognized. |
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