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Should our HOA get FHA approved?


I have been on the board of our small condo HOA just over a year now. We only have 27 units. One of our residents wants the community to become FHA approved so he can get an FHA re-fi. The costs, time associated, paperwork and disadvantages to becoming FHA, in my opinion and the other 2 board members, is not worth it. He is persistent and I'm afraid he might sue the HOA. My conclusion is that the board has to look out for the good of the community, not just one person. Any suggestions on how to handle this?

Answers (8)

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