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, which buy mortgages from lenders. Those guidelines were updated last year, and they contain a minefield of pitfalls for condo boards. One of the most treacherous is when a condominium is involved in litigation. Read the article……………..
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