Is anyone familiar with Fannie Mae guidelines when a homeowner owes a substantial amount in condo dues? We are in a super liens state. My homeowner owes over $9000 in dues and it's now an official lien on title. I'm trying to research to see if there is a guideline that FNMA will pay this at closing. Right now it's holding up my sale. Seller doesn't have the $$ and buyer is not willing to contribute and because we are a super lien state, association attorney doesn't care because he'll get paid before first mortgage lien holder if it forecloses.
You need to be a member of Short Sale Superstars to add comments!
**********************************
like buttons
Replies
Not sure what their guideline is but I have recently had them pay over $13,000 (3 years) of condo fees. I just kept pushing.
Thanks Bryant. That gives me hope. I negotiated two OTHER jr liens on this one and the condo dues are the only hold up right now.