Each year brings new condo and HOA bills, some of which have the potential to protect homeowners, others which may further limit property rights. This post discusses several bills under consideration for the 2022 legislative session.
Florida lawmakers consider revoking HOA power to fine homeowners
Companion bills in FL House and Senate remove statutory provisions enabling homeowner associations to enforce covenants and restrictions with fines. If enacted, it would be a significant first step at reining in HOA abuse of power.
What if Homeowners Associations had to respect owners and residents Constitutional rights?
2022 appears to be the year of the Backlash Against HOAs. IAC is following several new bills with a similar theme: Restore the rights of
Fannie Mae, Freddie Mac won’t buy condo, co-op mortgages in community Associations in need of critical repair
Just before the Christmas holiday season, both Fannie Mae and Freddie Mac issued new “temporary guidance” for sellers of units in condominium and cooperative housing projects in the U.S.
On behalf of any buyer that’s planning to make a mortgage purchase of a unit, all condominium and cooperative HOAs must now disclose major deficiencies in the community, as well as any current or pending special assessments intended to pay for major repair and reconstruction. That guidance could be a game changer in the market for condos and co-ops.