The following is from a HUD press release:

FRIDAY, JULY 22nd IS DEADLINE FOR AT-RISK WASHINGTON STATE HOMEOWNERS TO PRE-APPLY FOR UP TO $50,000, FORGIVABLE “BRIDGE LOAN” TO AVOID FORECLOSURE & HOLD ONTO HOMES

SEATTLE – This Friday, July 22nd, is the deadline for at-risk Washington state homeowners facing foreclosure as a result of a loss in income due to a change in employment or high medical bills to qualify for Emergency Homeowners’ Loan Program (EHLP) interest-free, forgivable “bridge loans” of up to $50,000 to bring their mortgages current and help them pay their mortgages.

The U.S. Department of Housing and Urban Development awarded Washington state some $56 million for “bridge loans” under the EHLP program. The average EHLP “bridge loan” is expected to be about $35,000 so as many as 1,500 eligible, at-risk homeowners at-risk could benefit from the program, created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

“The clock is ticking for Washington state homeowners at risk of foreclosure,” said HUD Northwest Regional Administrator. “It is absolutely critical for them to get to the EHLP Web site at www.findEHLP.org before Friday, July 22nd, to pre-apply for an EHLP bridge loan. Simply put, it could be the difference between losing or holding onto their homes.”

At-risk homeowners interested in the EHLP “bridge loan” program should visit its Web site at www.EHLP.org or by calling EHLP at 855-FIND-EHLP (346-3345). By Friday, July 22nd, they must have completed and submitted the EHLP Pre-Applicant Screening Worksheet and the Third-Party Authorization to pre-apply.

EHLP funds will pay a portion of an approved applicant’s monthly mortgage including missed mortgage payments or past due charges including principal, interest, taxes and insurance. Only participating EHLP agencies found on www.FindEHLP.org are approved to accept Pre-Applicant Screening Worksheets. Homeowners should beware of scams. It is free to submit a worksheet or get assistance with completing the worksheet. Any company asking for money to assist homeowners with the EHLP application process is a scam. Contact information for participating agencies, the Pre-Applicant Screening Worksheet and more information on the EHLP assistance and its eligibility requirements can be found at www.FindEHLP.org or by calling toll free at 855-FIND-EHLP (346-3345).

To be eligible for an EHLP “bridge loan,” households may incomes of no more than 120 percent of area median income. For EHLP income limits in Washington state, see http://www.huduser.org/portal/EHLP/index.html

Due to expected high demand for EHLP “bridge loans,” interested homeowners will complete a Pre-Applicant Screening Worksheet first. If there are more potentially eligible pre-applicants than funding available, the worksheets will be entered into a random selection process. Homeowners will be randomly selected and invited to apply for EHLP. Unfortunately, some qualified homeowners will not be selected and some will complete an application but not be approved to receive assistance because they do not meet all of the requirements.

The EHLP program is being administered on HUD’s behalf by NeighborWorks America, a national nonprofit organization that, since 1991, has been committed to providing access to homeownership and to safe and affordable rental housing.

The Resale Certificate contains the condo association documents (budget/finances, CC&R’s, rules and regulations, bylaws, declarations, insurance, board minutes and may include a reserve study), which is provided to the buyer during the purchase process.

The documents provide important information about the financial health and management of the condo association. The cost of Resale Certificate is normally paid by the seller.

View the passed and signed bill

Dues and Don’ts: Condo owners who get behind on homeowner dues could be in for a nasty surprise | Seattle Met Magazine

…your condo association has the authority to foreclose on your unit if you simply fall behind on your monthly homeowner dues. “People always assume that the only person that can foreclose is the bank,” says Valerie Farris Oman, an associate attorney at the Condominium Law Group. “And that’s simply not true.”

New FHA condo financing rules squeeze sellers | Philadelphia Weekly / Inman News

All of the condo projects that ever received FHA approval were going to have to have those certifications expire as of Dec. 7, 2010, but there were so many projects seeking recertification that it created a crush on FHA’s resources to deal with it,” said Kevin Britt, a Seattle attorney specializing in condo and homeowners association representation.

“The FHA extended the deadline based on when the projects originally received approval. The earliest projects were circa 1972 and had to be recertified by Dec. 31, 2010; the other projects (using five-year increments) had longer deadlines