Many condos not eligible for FHA loans

In 2010 HUD issued updated and revised processing requirements for recertifying FHA approved condominium projects that would expire in December of that year. In the same document, HUD mandated that all condo projects, which received approval prior to Oct. 1, 2008, would require recertification on or before Dec. 7, 2010 (around 15,000 across the U.S.). Further, every FHA project certification would require recertification 2 years from the date of issuance.