Lending questionnaires introduced by Fannie Mae and Freddie Mac restricted access to mortgages and created condo blacklists, impacting thousands of affordable housing units in the U.S.
There is no universal threshold that should trigger a foreclosure. The decision should be based on many factors, including the amount of the debt, the financial health of the association, and the homeowner’s ability to bring the account up to date.
Vetting candidates boils down to two essential components: eligibility to serve on the board and the formal responsibilities the board must carry out to evaluate potential board members.
According to the Foundation for Community Association Research, 91% of community association managers and homeowners report seeing an unexpected increase in expenses due to rising costs and inflation.
Steve Cousino, CMCA, AMS, senior association manager with Caribou Property Management in Madison, Wis., shares his top 3 tips for hiring contractors.
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