Leni Cummins and Rebecca Eschen explain how condo boards can avoid pitfalls associated with Fannie Mae and Freddie Mac mortgage refinancing guidelines. According to Leni and Rebecca, lenders follow guidelines issued by Fannie Mae and Freddie Mac when deciding whether to lend money to condo buyers or unit owners who want to refinance their mortgage. The guidelines can present many unavoidable challenges for condo owners, but some issues can be avoided if a condo owner takes the time to understand the guidelines and proactively manage issues that may arise.
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