In an earlier article, we explained that when deciding whether to lend money to potential buyers or to unit-owners who want to refinance their mortgage in a condominium, lenders follow guidelines issued by federally backed Fannie Mae and Freddie Mac. These guidelines can seem like a minefield. While some of the guidelines present unavoidable pitfalls – such as those pertaining to litigation – others can be avoided if condo boards understand them and take steps to circumvent them. Here are some of the big ones: Read the article…………………..
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