Brooks Tower back on FHA eligibility list

For Immediate Release On: 11/22/2009

For Further Information, Please Contact:
Margaret Jackson - Denver Post at mjackson@denverpost.com

Relevant Info on the Web: http://www.denverpost.com/businessheadlines/ci_13838459

Brooks Tower is back on the list of buildings eligible for financing through the Federal Housing Administration.

The 42-story condominium building at 1020 15th St. downtown was removed from the list six months ago while new building regulations were implemented.

The U.S. Department of Housing and Urban Development, which administers the FHA program, asked residents to approve an amendment to the building rules and regulations that raised the minimum occupancy for rentals from one week to one month. HUD's rules, as well as many private-sector lenders and mortgage insurance companies, require a minimum rental time period to encourage a stable community as well as to minimize risk to the properties they underwrite or insure.

About Trenka & Associates: Trenka & Associates is one of Downtown Denver's leading Real Estate Companies. http://www.condosandlofts.com

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