To expand the section 203(k) rehabilitation and title I property improvement loan programs of the Department of Housing and Urban Development to authorize such loans to be made to low-income families residing in condominium units to cover the costs of special assessments imposed for repair or replacement of common areas, systems, and features, and for other purposes.
SAFER in Condos Act of 2022 or the Securing Access to Financing for Exterior Repairs in Condos Act of 2022
This bill allows an owner of a condominium (condo) unit to finance, through loans backed by the Federal Housing Administration, special assessments charged by the condo's governing body for rehabilitation, repair, replacement, or other improvement of common systems, infrastructure, facilities, features, portions, or areas.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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