Buying or selling a condo? Read this
Columnist Kenneth Harney notes that private mortgage insurers and mortgage financing giants Fannie Mae and Freddie Mac are making it harder to get a condo loan, particularly in parts of the country with "declining" housing markets.
Click HERE to read more. Perhaps the most depressing comment in the column comes from Bruce A. Calabrese, president of Equitable Mortgage Corp. in Columbus, Ohio:
"Everybody is really backing off condos" because of all the restrictions and changes. He said he owns two condo units -- one in Florida, another in Myrtle Beach, S.C. -- and even though he is in the mortgage industry, "I don't think I could refinance either of them right now if I tried."
