2022 appears to be the year of the Backlash Against HOAs. IAC is following several new bills with a similar theme: Restore the rights of
Fannie Mae, Freddie Mac won’t buy condo, co-op mortgages in community Associations in need of critical repair
Just before the Christmas holiday season, both Fannie Mae and Freddie Mac issued new “temporary guidance” for sellers of units in condominium and cooperative housing projects in the U.S.
On behalf of any buyer that’s planning to make a mortgage purchase of a unit, all condominium and cooperative HOAs must now disclose major deficiencies in the community, as well as any current or pending special assessments intended to pay for major repair and reconstruction. That guidance could be a game changer in the market for condos and co-ops.
State level Affordable Housing legislation aims to override local control
How will increased potential for ‘up-zoning’ impact HOA-governed communities? In an attempt to increase the supply of affordable housing in some of America’s most expensive
HOA, condo, & co-op Legislative update (Part 2, Nov. 2021)
Part 2, a summary of notable new laws enacted in several US states in 2021, as well as previews of important bills filed for 2022