Tuesday, March 16, 2010

First Entry - Stupid HUD

Well here I am, ready to start being an idiot by putting all the thoughts I should be keeping to myself out there for everyone to view. Crap. Well, I guess I'll just have to be careful. I'm not exactly how long that I will keep up with this blog, but hopefully it's an interesting enough hobby for me that I get the inspiration to write more. I will most likely be journaling more and then pulling out selected (and censored) segments to put on to here. Or, I may just get on here and complain about something that is going on in this world. Not sure how many people, if any, will read this thing. I will try and link it to my Facebook account so all of my stalkers on there can fulfill their desires even more by prying into my innermost thoughts. Yes, I love being a little sarcastic when I talk. Deal with it.

Speaking of things going on in this world, I was just informed by a contact in Boston today that HUD is considering changing a lot of the specifications and requirements for new construction projects that fall under the 223 or 221d-4 guidelines. Now I'm sure that most of you may have no idea about the specifics of those, but they're basically FHA programs that are able to insure certain types of developments. My particular job right now is involved with starting a new construction project that is a rehab of 31 units and construction of 11 new units, and HUD will be insuring the loan. It's a long and complicated process, and with the new guidelines (which I don't believe have taken effect yet), it will make it harder for borrowers to live up to the guidelines. This in turn will just make our situation a lot harder and require even more time tweaking things and getting money together in order to reach the closing date.

To put it simply - If the Government passes the new regulations, we're screwed.

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