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.

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HOA, condo, & co-op corruption, fraud, & theft roundup (July 2018)

By Deborah Goonan, Independent American Communities Debit card fraud, mortgage fraud, and common jewelry theft on this month’s roundup. McKenzie County HOA president accused of

Attorneys for mortgage lenders explain how HOAs exploit the system

By Deborah Goonan, Independent American Communities Homeowners of property in association-governed communities should read the following article, and others like it, even though the intended

Years after vacating their homes, borrowers still can be stuck with HOA fees

Originally published in Tampa Bay Times By Susan Taylor Martin (June 16, 2015) Seven years ago, Renee Abuton realized she was juggling too much —