A confidential blacklist maintained by Fannie Mae is growing rapidly, making it increasingly difficult for condo owners in troubled buildings across Miami and South Florida to sell their properties or secure loans for necessary repairs. This list has more than doubled over the past two years, with 696 condos now noted as ineligible. Owners facing financial, insurance, or maintenance issues are particularly hard hit by these constraints, creating a challenging financial landscape as new state safety regulations loom.
The number of local condos on the Fannie Mae blacklist has more than doubled in the past two years, significantly impacting owners and condo associations in South Florida.
The recent blacklist shows that 696 condos in Miami-Dade, Broward, and Palm Beach counties are ineligible for Fannie Mae's backing, highlighting a financial crisis for many owners.
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