Under certain conditions, FHA will insure first mortgages where (1) the existing note holder writes off the amount of indebtedness that cannot be refinanced into the FHA insured mortgage; or (2), the FHA-approved lender making the new ...

Reselling Is No Longer An Option In Virginia
‘In the old days, you couldn’t get a on a condo if the building wasn’t FHA approved, but then they began giving $100000 loans without FHA approval and investors were taking higher proportions of the units,’ he said.” ...