The condo purchase requirements changed on January 1, 2022 as a result of the tragic collapse of the Champlain Tower South in Surfside. Fannie Mae and Freddie Mac, the two companies that back a majority of residential mortgages in the U.S., are scrutinizing deferred condo maintenance issues before approving loans generated by banks and other lenders. The organization will not purchase mortgages on condos...
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