To amend the National Housing Act to authorize insurance of certain mortgages to finance repairs and improvements to condominium projects, and for other purposes.
About This Bill
Committee
Latest Action · July 3, 2023
Referred to the House Committee on Financial Services.
Making Condos Safer and Affordable Act of 2023
This bill allows the Federal Housing Administration (FHA) to insure a mortgage taken out by a condominium association for the purpose of repairs, improvements, or alterations to any common system, infrastructure, or facility of the condominium.
The bill also allows the FHA to insure a mortgage taken out by a condominium unit owner to pay for special assessments charged by the association for repairs, improvements, or alterations to any common system, infrastructure, or facility of the condominium.
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