Will New Fannie Mae and Freddie Mac Guidelines Diminish Unit Values?
Taking advantage of the current seller’s market and/or low interest rates, Unit Owners in your Condominium or Cooperative Association may wish to sell or refinance their units. Seems simple, right? Maybe not, as whether a prospective buyer or current owner can obtain financing or refinancing may depend upon your Association Board’s response to questions regarding the condition of the building.
Those questions are being posed as the result of new “temporary” guidelines from the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Click below to read the full article and learn more.