The “CONDO CASH” Program

Living in an urban area, such as Atlanta and New York, where you can live/work/play on the same street allows many urban dwellers a luxury of little, if no, commuting.  However, in this economy and real estate market, many would-be condo buyers have faced challenges with purchasing condos (despite the deeply discounted priced units) due to Homeowner Association (HOA) delinquencies by the current/previous owners of the condo.  However, Freddie Mac is hoping to solve this problem.

Uncle Sam, Freddie Mac & Fannie Mae: Three’s Company or Three’s a Crowd?

As of this past Sunday, the US Government, in the nation’s largest financial bailout, has decided to take control of Freddie Mac & Fannie Mae, which collectively control more than half of the nation’s $12 trillion in outstanding home mortgages.   This news has already made it more affordable to borrow money to buy homes.  According to Bankrate.com the 30-year fixed rate dropped by .18% on Monday after the announcement.  But this decision does not make it easier for homebuyers to obtain a loan, which still may be the biggest issue of all.