New Guidelines for Buyers

Among the tips offered by reporter Mary Ellen Podmolik in today's Chicago Tribune is this one for condo buyers:

"Potential buyers need to be aware not only of additional loan fees instituted last month by Fannie Mae and Freddie Mac, but they also need to find out about the financial health of the developer and the homeowners association. Shoppers need to learn whether units in the building are in pre-foreclosure or foreclosure because that could affect future home values and financing."

For the entire article, click here.