In response to the collapse of the Champlain South Tower in Surfside, Florida, Fannie Mae recently tightened its eligibility requirements for mortgages on condominium units.
Eligibility may now be denied in associations with structural issues, significant deferred maintenance, and/or unsafe conditions.
In order to determine eligibility, Fannie Mae has supplemented its HOA Questionnaire form to include questions about these matters.
Learn more about the questions and requirements, here.
Amid the hustle and bustle of the holiday season, we at ChicagoCondoResource.com and Haus Financial Services, LLC hope that you find time to put aside your condo concerns and focus on family and friends.
This is also a great time to reflect on the challenges of 2021 and to set goals for the New Year. With the pandemic not yet behind us, we're all finding we can use a bit more support in our day to day responsibilities. Haus Financial Services is dedicated to taking the pressure off of small condo boards so that you can spend more time on your personal priorities.
This year, give yourself the gift of management support with HausFS so you can manage successfully (and with less stress) in 2022! Schedule your Prospect Call here to learn more about how we can help.
Happiest of Holidays from ChicagoCondoResource.com and HausFS!
It is now easier than ever to properly recycle your old electronics.
Through the end of the year, Chicago is hosting dozens of drop-off recycing events across the city.
Accepted items include:
- Cell phones
- Video Game Consoles
- Computer Monitors
- Portable Digital Music Players
- Digital Converter Boxes
- Printers, fax machines, and scanners
- Cable and satellite receviers
- Keyboards and mice
- Small scale servers
- VCRS, DVD players, and DVD recorders
Learn more information and find the best location for you, here.
Keough & Moody put together an awesome renditon of the Twelve Days of Christmas for Community Associations that is certain to bring you some holiday cheer.
CAI's Condominium Safety Public Policy Report unveils the outcome of the task forces pulled together shortly after the partial collapse of Champlain Tower South condominium in Surfside, Florida.
The report suggests public policy changes to the community association housing model to better address building safety.
The recommendations are in the areas of reserve studies and funding, building maintenance, and structural integrity.
Read the full report here.