An article from The National Association of REALTORS magazine, RealtorMag reports, “President Obama has signed H.R. 3700 – the “Housing Opportunity Through Modernization Act” into law. The National Association of REALTORS® hailed the development as a “significant step” in eliminating barriers to safe, affordable mortgage credit for condos.”
“This legislation will help offer relief to well-qualified potential home buyers who have been facing tight housing inventories, rising home prices, and strict mortgage credit underwriting guidelines,” says Tom Salomone, NAR President.
For more information about these upcoming changes, read the full article here.