Why is Freddie Mac adding an increase on closing cost for Condos only after March 1st.?

Asked by Connie, Loves Park, IL Wed Mar 4, 2009

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Brian Nygard, Agent, Des Plaines, IL
Wed Mar 4, 2009
Their reasoning behind the increase in fees is due to the growing risk of default on condos. Fees upfront will help offset losses from defaults on condo mortgages. I hope that helps.

Brian Nygard
Realtor/Owner
IllinoisRealEstate.com
Chicagoland Residential + Commercial Real Estate Services

Cell/Text: (312) 217-8002
Fax: (312) 253-2049 http://www.illinoisrealestate.com
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