Condominiums and their HOAs. Keeping up values for owner occupied units.

This syndicated columnist answers a question regarding Homeowner associations attempts to decrease rental units in their complex.

FHA and Fannie Mae will only lend on condominiums that have at least a 51% owner occupancy.  They must also have less than a 15% delinquency on HOA dues.  Without these guidelines, only cash buyers can purchase the properties and therefore bring the value down for these complexes.

http://www.marketwatch.com/story/condo-buildings-move-to-limit-rentals-2010-0...

Gloria Bumanglag, GRI

Century 21 Award

Realtor, DRE# 01762609

"Helping You Find Your Path Home"