Please choose your country: Cheap Places in the UK Cheap Places in the USA Cheap Places in Australia Cheap Places in the EU

    Accommodation Search Engine
                   Free

home | SEARCH | Post An Ad Free | Post News / Articles | About Us  | Log In / Register
RSS Postings
Guidelines threaten to derail housing recovery

Guidelines threaten to derail housing recovery (News (General))

by administrator @, Monday, August 24, 2009, 17:42

Two little-known exclusions in the Fannie Mae and Freddie Mac lending guidelines are endangering many of America's newest neighborhoods, preventing homeowners from recovering damages for construction defects and threatening to derail the housing recovery before it gets off the ground.

According to the Community Associations Institute, nearly 60 million people in the United States live in Shared Ownership Communities — condominiums, co-ops and planned developments governed by a homeowners' association (HOAs). When these "new neighborhoods" are first built, there are often various construction defects. Such flaws are commonplace, given the complexities of the structures being designed and built. In an ideal world, every developer would stand by his product, either repairing the defects or giving homeowners enough money to fix the defects themselves.

Click on the following link to read more…

Click here to read more

Tags:
housing recovery


Tell a friend:
  or Bookmark this Page
©2008 Silver Lining Web Services Ltd
Valid XHTML 1.0 Transitional at Cheap Living Accommodation                                               Valid CSS at Cheap Living Accommodation!