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Condo Newz

Subcategories from this category: Condo Newz

Clients and customers deserve to be heard. They desire to be listened to.  The people we do business with each day want to be treated with respect and understanding when transacting, so they can feel enlightened and causative through their goal-oriented decision-making process.  Clients don’t want to be manipulated, distracted and pressured into making quick decisions they’ll regret later.  A client also wants to come out of a business experience feeling good about the transaction and the people they interact with.

But for decades, the real estate industry, as well as sales trainers in many other types of business fields, have pushed high pressure sales approaches and aggressive sales tactics onto their students, that end up leaving clients and customers feeling less respected, and less powerful as people.  These sales techniques were often taught by business consultants and coaches who focused more on creating a mega coaching business instead of providing knowledge and advice on how to truly serve a client’s needs while granting the client their “beingness”, i.e. respect as the human being they are through the transaction.  These coaches’ techniques consisted of pushing agents and sales people through superficial, repetitive drills exercising a technique called “HARD SELL.”  Hard-Sell consists of high-pressure salesmanship that pushes buyers to buy immediately, and sellers to list their property quickly, often without giving the client and customer ample time to make informed choices and to fully think through their actions, goals and desires.  This hard-sell technique, and general lack of care for people, has created a less harmonious, mature and value-driven environment in today’s business world and society in general.

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FHA Loan Updates per HUD:  WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner today announced the Federal Housing Administration (FHA) revised its residency requirements and removed access for illegal aliens to FHA-insured mortgages by eliminating in its entirety the “non-permanent residents” category from the Title I and Title II programs. This update of FHA policy ensures illegal aliens and non-permanent residents in the U.S. cannot access FHA-insured financing and refocuses the use of taxpayers’ resources and federal housing programs to benefit U.S. citizens.
 
Read excerpts from The National Review below:
 
National Review: HUD Cracks Down on Government-Backed Mortgages for Illegal Immigrants
 
“The Department of Housing and Urban Development announced on Wednesday that non-permanent residents will no longer be eligible for Federal Housing Administration (FHA) mortgages, National Review has learned, part of a broader effort by the administration to ensure that American citizens are prioritized under taxpayer-funded housing programs following massive flow of illegal immigration under former President Joe Biden.
 
FHA loans offer government-insured mortgages to ensure that lower-income individuals have access to home ownership. While illegal immigrants are technically ineligible to obtain FHA-backed home loans under U.S. law, HUD’s announcement will strengthen enforcement mechanisms to ensure that illegal immigrants are not abusing the program in the future. It is unclear how many illegal immigrants have obtained FHA-backed loans.”
 
“HUD’s revised residency requirements for FHA-backed loans, which take effect on May 25, will apply to Deferred Action for Childhood Arrivals (DACA) recipients as well as individuals who are pending asylum or pending refugee status, according to HUD, since there is no guarantee that their residency status will be renewed under the current administration.
 
The new policy eliminates the ‘non-permanent resident’ category entirely from the FHA’s Single Family Title I and Title II programs, and reverses a Biden-era policy which allows FHA loans for DACA recipients who provide a valid Social Security Number and work eligibility status.
 
HUD Secretary Scott Turner’s announcement is in keeping with President Donald Trump’s immigration related executive orders, and will be applied to a future version of HUD’s Single Family Housing Policy Handbook 4000.1. Earlier this week, HUD and the Department of Homeland Security released a Memorandum of Understanding to announce both agencies’ coordination on efforts to crack down on tax-payer funded public housing for illegal immigrants.
 
‘There will be no more illegal aliens getting HUD-backed home loans,’ Secretary Turner said in a statement to NR. ‘The Biden administration exploited taxpayer resources and manipulated FHA policy to allow illegal aliens to ride the coattails of the American taxpayer when financing on a home. For those who play by the rules and work hard to purchase a home, it is unconscionable. HUD will continue to implement President Trump’s executive order ending taxpayer subsidization of open borders and protecting the American Dream of homeownership.’”
 
Read the full story here.
 
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Buying a condo today—whether you’re a first-time homebuyer or a real estate pro—comes with some new twists. Since early 2022, after a condo collapse in Florida sparked safety concerns, Fannie Mae and Freddie Mac have tightened condo mortgage rules. As of February 25, 2025, these updates, plus specific “Project Review Processes,” are reshaping how loans work. Here’s the scoop.
 

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FINCEN Logo 320x213HOA boards will no longer have to provide personal information to the Financial Crimes Enforcement Network.  This week, Scott Bessent, the new Secretary of Treasury in the Trump Administration, announced the Treasury Department will not enforce the Corporate Transparency Act (CTA) against U.S citizens and domestic companies.  This ruling includes domestic homeowner association boards.   The Treasury Department announced it will now draft an emergency ruling stating only foreign companies will be subject to the Corporate Transparency Act.



According to the Department of Treasure website on March 2, 2025, “the Treasury Department this week that, with respect to the Corporate Transparency Act, not only will it not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing regulatory deadlines, but it will further not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners after the forthcoming rule changes take effect either. The Treasury Department will further be issuing a proposed rulemaking that will narrow the scope of the rule to foreign reporting companies only. Treasury takes this step in the interest of supporting hard-working American taxpayers and small businesses and ensuring that the rule is appropriately tailored to advance the public interest.”

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