HUD HOC Reference Guide
Appraisal & Property Requirements
To be eligible for FHA Insurance a property is to be "legal" and free of health and safety hazards and major structural problems. If the use is not legal, the property is not eligible for HUD mortgage insurance and remains such until it becomes legal. A property can be "legal non-conforming". In this case the non-conformance part is to be reflected in value, if applicable.
|Content Archived: October 25, 2012|