New federal bill HOTMA H.R. 3700: Housing Opportunity Through Modernization Act

By Deborah Goonan, Independent American Communities Those of us who follow legislative issues involving Association Governed Housing need to pay attention to the recent fast-tracking of H.R. 3700, Housing Opportunity Through Modernization Act (HOTMA). Community Associations Institute and the National Association of Realtors lobbied in favor of HOTMA, mainly because the bill requires the Federal Housing Administration (FHA) to ease mortgage financing requirements for condominiums. The obvious goal of both trade groups is to sell Continue ReadingNew federal bill HOTMA H.R. 3700: Housing Opportunity Through Modernization Act