Can you look into why Congress refuses to take action to allow VA Loans to be used for Co-ops and all Condos, just like they can be used for single family homes?
Rep. Carolyn Maloney introduced a bill into the House in 2020 but it never went anywhere. She was then voted out in redistricting and her replacement (Nadler) hasn't taken any action. There was a program for a single year in 2006 that allowed Co-ops to be purchased with VA Loans - but it was not well advertised or used and it lapsed.
Probably 75% of the housing stock available for purchase where I live are either Co-ops or Condos. And Single Family homes are way out of my price range (if and where they even exist).
Aug 9, 2023
at
10:50 PM
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