Will we ever be able to sell the units, with commercial units in our building under new Fannie Mae Rules?We live in a 6 unit condo Building in Chicago. The first two units are commercial. Making Commericial about 30% of ownership. The unit across the hall is trying to sell their place, but cannot because no one will give a loan out because they say we need less than 20% commericial ownership. We have talked to a few lawyers and it looks like we are basically screwed until the change the rule...as our first attempt at a REA will not appease lenders. Please help, otherwise looks like I am a future landlord. :( Attorney answers (0)No Attorney answers yet.Most questions get answered by a lawyer within a few hours. Until then, the questions below might help you. |