The Rockaways

If you haven't heard, Rockaway's Belle Shores condos have been welcoming new homeowners that have secured financing using FHA insured loans with low down payment.

Here is an abstract of a recent NY Times article about using the government's FHA program:

At the Belle Shores Condominium in Rockaway Park, Queens, some 80
percent of the sold units have used F.H.A. loans since the project
received approval last winter.

“Three years ago, people could
decide to buy where they wanted to buy, and that was O.K.,” said
Michael Kerris, the chief financial officer at the FrameWorks Group,
the developer of Belle Shores. “Now, you have to go where the banks
will allow you to buy.”

To view the entire article, click here.

Furthermore, here is an article in the unofficial newspaper of The Rockaways, the Wave. They go over one of the many scenarios where beachlovers discovered they can afford to live in luxury on the ocean. The story they go into is about Karen, a school teacher and Bill an FDNY captain.

"We are thrilled to receive approval to offer FHA financing for the
Belle Shores Condominium," says Michael Kerris, the chief financial
officer for the FrameWorks Group, the company developing Belle Shores.
"With such incredible financing options, the opportunity to purchase
beachfront real estate at an affordable price is an option for many
homeowners."

To view this article, click here. Oh, and if you are moving to The Rockaways, you want to be sure to get a subscription to this weekly newspapers.

If you have any questions about Belle Shores, other real estate opportunities in The Rockaways, or FHA financing, call Urban Underground Realty at (877) 669-2788 and press extension 7 or visit their web site www.UrbanUndergroundRealty.com.