According to the New Jersey Housing and Mortgage Finance Agency (NJHMFA), which provides funding for housing assistance programs in the state, the issue arises from Cedar Crossing’s delinquency rate. The delinquency rate is determined by how many homeowners are in arrears on their mortgage or monthly condo association dues. If the rate is too high on a development, buyers can’t qualify for conventional Fannie Mae and Freddie Mac mortgages on units there. Read the article…………………………….
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