J. MICHAEL DAILY
                           CERTIFIED PUBLIC ACCOUNTANT
                          2240 BELLEAIR ROAD SUITE 140
                              CLEARWATER, FL. 33764
                                 PH 727-507-9133
                                FAX 727-507-9314






July 20, 1999

Securities and Exchange Commission
480 Eighth Street N.W.
Washington, D.C. 20549

Re:     Federal Affordable Housing Corporation
        File Ref. No. 33-67536-A

I was  previously  the  principal  accountant  for  Federal  Affordable  Housing
Corporation,  and  under the date of  September  11,  1998,  I  reported  on the
financial  statements of Federal Affordable  Housing  Corporation as of, and for
the year  ended  May 31, 1998.  My  appointment  as  principal  accountant  was
terminated on June 16, 1999. I have read Federal Affordable Housing  Corporation
statements  included  in it's form 8-K/A dated July 20, 1999, and I agree with
such statements.


Very Sincerely Yours,

/s/ J. Michael Daily
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J. Michael Daily
Certified Public Accountant







    A MEMBER OF THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS AND A
         MEMBER OF THE FLORIDA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS