Why Do FHA 221 (d) 4 Loans Take So Long?

Everybody loves the terms of an FHA deal:  high-leveraged, fixed rate, assumable, non-recourse fully amortizing financing for 35-40 years. Terms like that went out with right on, power to the people, make love not war, and Gas-$.53/gallon.  I must confess that I still...

FHA Apartment Loan Financing

While the final numbers are not yet in on the FHA Apartment Loan financings for fiscal year 2012, through 11 months, the results are as follows: Firm Commitments: 2,073 versus 1,669 for FY 2011 221 (d) 4 Apartment loans (New Construction and Substantial...

Should I Get Busy & Refinance My Apartments?

Over the last two years, Ben Bernanke has provided comfort to the mortgage market and real estate owners regarding the low, sustained interest rates we could count on, first through 2013 and now into 2014. My cynicism at first was heightened.  I kept thinking that...

Why Do We Have Concept Meetings

A couple of years ago, a developer went into an FHA office and pitched a deal to the staff.  This deal had the American Flag all over it-affordable, public good, a novel approach to handling foreclosures-something you would want to sing God Bless America over.  The...