Fannie Mae and Freddie Mac (conventional loans) require that the unit be at least 400 square feet. Smaller than this is indicative that it might be being operated as a hotel/motel/timeshare which are ineligible properties for conventional financing.
Who does the condo complex recommend for financing? I'm sure they have a lender or two that has closed loans there and might be able to help you. That's the best bet... more
The HOA is run by owners whose main goal is to make the property more renter friendly. You can expect "special assessments" during the year, not because the dues aren't enough, but because the board members will spend the dues on items that are not needed (like the tacky sign, which is 50% advertising space). If you want to buy a unit to rent, this is the place for you!... more
Look up Property Management companies for Morehead City, NC in a phone book or online. These companies handle rentals. You might try doing a google search for condo rentals in Atlantic Beach also.... more
I do work for a company that is hired by lenders to go out and work with owners to help them keep their homes when they are behind in payments. There is no charge to the owner and my fees are paid by the lender. Often I find that the client I am assigned to contact has been deluged by "fee-based" companies who claim to be able to help them keep their homes. The owners are thrilled when I show up at the door with a service that is absolutely free to them courtesy of their lender.
The word needs to get out that lenders are eager to work with their clients to modify loans so that people can make their payments and stay in their homes. Under the Obama plan, lenders receive incentives to modify loans and help people avoid foreclosure. Realtors can have a great impact when they spread this word with their clients.... more