<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1061566567187268&amp;ev=PageView&amp;noscript=1">
HOA Software
By stephen polinsky • May 2, 2012

Do Freddie Mac/Fannie Mae rules control condo association dues?

We are a 40 unit association run by a volunteer board. We spent quite a bit of money with a lawyer regarding our FHA review and have finally received FHA approval again. Recently, our condo president was told that if a condo is repossessed, we can only ask for 0-6 months in assessment fees due to Freddie Mac/Fannie Mae guidelines. In the past we have been able to receive most of our money back, either from the bank or from the eventual individual buyer. Does anyone have any information regarding this? I sent emails to our lawyers but haven't heard anything and am sure they expect me to make an appointment and pay for their face-to-face consultation as well as their reply. I am hoping someone has researched this question. Thanks!

Please drag open the comment box from right bottom corner to make it larger.

Please note that blog comments and postings are not legal advice, rather only the opinions of our readers.
Visit Our Sponsors
Condo Management Software
new 300x500_surety-one-ad-border

Blog by Topics

See all

Subscribe Here!