Tom Kelly: Condo financing taking dead aim on renters

But the big question behind condo and alternative housing is financing. Will lenders bend their conservative outlook toward condos to support growth? In order to obtain financing, the percentage of owners in many buildings must equal 50 percent.  That’s what Fannie Mae and Freddie Mac, the largest suppliers of mortgage money in the country, often require, and it is one of the main reasons condo associations are pushing for owner-occupants.  A court case, however, sent a message that condo associations should be careful on how owner-occupant ratios are achieved.    Read the article…………….

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