Lakeridge-Whittier HOA

Learned that as of August 17, 2016 FHA will no longer qualify loans for Lakeridge buyers.Why? FHA must feel something is very wrong. Nothing has closed in two months and 10 units up for sale with more in the pipeline.

Yes, FHA does not like Associations where there are a high ratio of owner occupied units vs renters. Also, if there's pending litigation that's a kiss of death. So you guys are dead in the water.

As you can see, having too many renters in a condo complex can RUIN an Association. The off-site owners could care less what happens with the Board of Directors as long as their renters pay on time....which in turn pays the mortgage on the condo.

Here's another worrisome thought....just wait til someone starts renting out their condo via AIRBNB. Last thing you want is a bunch of strangers traipsing in and out at all hours, with no regard for the people living in your complex. I feel sorry for the people in the SPYGLASS VILLAS condos as some guy is on the AIRBNB site advertising his unit for day rentals, weekend, etc.