condo ownership: Stunning New Underwriting Guidelines to Affect Condo Ownership
- 04/30/08 05:54 PM
For owners of condominiums who want to sell or refinance, some stunning changes and challenges lie ahead. In market areas across the entire country, things are looking to get more difficult for condominium owners to sell or refinance a condominium. Announced effective May 1, 2008, if you own a condominium in a declining area, a major private mortgage insurance, AIG, will no longer write coverage. Their decision is supposedly not going to be affected by the applicants standing on the application. This is not about the applicants credit score or assets. It is about whether the condominium subdivision where the home is located is situated … (61 comments)
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For owners of condominiums who want to sell or refinance, some stunning changes and challenges lie ahead. In market areas across the entire country, things are looking to get more difficult for condominium owners to sell or refinance a condominium.
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