I am new to this blog so forgive me if this question has been asked before. I am the POA president and as such am trying to help owners who want to sell, re-finance, or even get a reverse mortgage on their units. However, because less than 50% of our 44 units are owner occupied, we are not FHA approved. Ours has been a viable complex since it was built in 1985. It seems we are paying the price for the overbuilding of condos in Florida and California. The Board has approached our Congressman for help and his staffers suggest that it would be advantageous for us to enlist other Boards in our area of Northwest Arkansas. I don't know if this exchange of info is possible through this blog but would appreciate any insight or suggestions regarding our situation.
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