What the left hand giveth, the right hand taketh away... After the good news that Fannie Mae will no longer treat vacant and foreclosed condos as non-owner occupied comes news of ever more underwriting restrictions. January 15, 2009 is the cutoff date when Fannie Mae toughens its policies on condo properties in the Sunshine state - potentially putting a damper on investors fishing for foreclosures or short sales. In a memo sent to lenders before in December, Fannie Mae said that [...]

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