Condo Litagation Loans

Condominium units in projects where the Homeowners Association (HOA) is involved in pre-litigation, mediation/arbitration, or formal litigation are classified as “non-warrantable” by Fannie Mae (FNMA). As a Government-Sponsored Entity (GSE), Fannie Mae’s primary function is to provide liquidity to the nation’s mortgage market. Since non-warrantable condominium loans cannot be sold to Fannie Mae, very few […]

Condominium Litigation When Getting A Mortgage

Condominium litigation can be a problem when getting a mortgage. What if a condominium has litigation against it and you want to buy it? To get a loan approved there are certain things a mortgage lender has to document or the loan may be denied. A mortgage lender has to prove that the litigation has […]

Assumable Mortgages: A Smart Move or a Risky Gamble?

When buying a home, compromise is often necessary—whether it’s on wall color, flooring, or other design elements. But what about the seller’s mortgage terms? With an assumable mortgage, you agree to take over the previous owner’s home loan under its original terms. This option can be particularly appealing in a high-interest-rate environment, as it may […]