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Condo associations may raise dues as reserve rules tighten

Tighter federal mortgage requirements will push many associations to increase budget reserves for future repairs.

Reported · Written up by our desk · Residential

Tighter federal mortgage rules could force many condominium associations to adjust their budgets, including setting aside more money in reserve accounts for future repairs, according to WSJ Markets.

The change stems from requirements tied to mortgage underwriting, which place more emphasis on the adequacy of condo reserve funding when lenders assess property finances.

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