Re: Project Approval by FHA or FNMA
From: R Philip Dowds (
Date: Wed, 5 Sep 2012 05:15:06 -0700 (PDT)
I continue to be baffled by this thread.

Formally, officially and legally, cohousing does not exist.  Fogeddabowdid.  We 
are all organized and occupied under State enabling legislation for 
condominiums and/or HOAs.  Maybe we have an semi-unusual mix of common spaces, 
but communally owned space is recognized by condo and HOA law.  Maybe our 
bylaws look a little funny, emphasizing "consensus" as our decision mode — but 
never mind that, all our major decisions about assessments, expenditures, 
acquisitions and sales must ALSO comply with State rules for condos and HOAs.

Seems to me that the point to emphasize to regulators and lenders is that our 
communities are intended to be, and must necessarily be, fully compliant with 
all State and federal law.  If we want to have sing-alongs every other night, 
that's OK too, but this has nothing to do with the legality or formal 
operations of our associations.  We are dead legal, always and forever.  And, 
as an extra-special bonus, our turnover rates and defaults are LESS than for 
ordinary condos and HOAs.  So give us the money.

Geez Louise.


On Sep 5, 2012, at 12:04 AM, Pat Elliott wrote:

> Hi everyone,
> Wolf Creek Lodge in Grass Valley, CA, a senior/active adult cohousing 
> project, is nearing completion (possibly in the next month). We are seeing a 
> train wreck approaching with respect to getting individual loans with the new 
> regulations that have been commented on in this forum.  Katie McCamant, our 
> developer, is trying to get the project pre-approved by FHA or FNMA.  She has 
> been told recently that "FHA doesn't deal with cohousing" but she hasn't been 
> able to actually find a person in the bureaucracy to talk to about this.
> So, my question is, does anyone know of a cohousing project that has received 
> project approval from FHA or FNMA that we can hold up as an example?  And 
> perhaps talk to someone involved in that process?
> I would appreciate any information or suggestions anyone can provide.
> Pat
> _________________________________________________________________
> Cohousing-L mailing list -- Unsubscribe, archives and other info at: 

Results generated by Tiger Technologies Web hosting using MHonArc.