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The Wall Street Journal reports that:

Moves by government-controlled mortgage firms could drive up cost of borrowing to buy units in resort areas

Fannie Mae and Freddie Mac, the government agencies that buy conventional loans, are imposing new standards that could affect loans on condos in resort  areas where there are a lot of vacation rentals, and hotel-like amenities.  Some condominium projects may be deemed ineligible for these government-backed loans.  The new rules appear to be targeting “condo hotels”, i.e., projects organized centrally throughmanagement, rental and realty companies than on individuals who offer their units on Airbnb Inc. or other hosting services.

Read the complete article at:  https://www.wsj.com/articles/fannie-freddie-tighten-rules-for-condos-in-vacation-locales-11610208000

 

 

 

Daily Real Estate News 1 Minute Read (0)

Contact The Lora Company

225 Kit Carson Road
Taos, NM 87571
Click for Google Maps
ph. 575.758.3275
fax 575.758.5724

Peter A. Lora
NM License No. 17543
peter@theloraco.com
ph. 575.770.7243

Maria Figliolia
NM License No. 42734
mariafig@newmex.com
ph. 575-779-0285

Sanjay Poovadan
NM License No. 45362
sanjay@taosrealestatepartners.com
cell. 575-779-1021

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The Lora Company

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225 Kit Carson Road - Taos, NM 87571
575.758.3275