How Your Reserve Study Savings Can Affect Your Condo Loan (w/ Jill Jones) - The Building Doctor Show Ep. 04

This podcast is part of J2 Building Consultants’ free webinar: The Building Doctor Show. To watch the show and view the video recording, Register for the LIVE Zoom webinar.   Guest: Jill Jones, a lender specializing in financing solutions to Homeowners and Condo Associations, who also happens to be a long-standing Board member at her own condo. How much should we have in our reserves?  I had an inspection. It passed all the tests. A month later I found rot in my walls.  A lot of our community's owners wanted to sell as soon as they found out there would be construction repairs. Are they allowed to just up and leave? Can lenders or building consultants help us fill out the Fannie Mae condo questionnaires? My condo board sent a letter to all of the residents about the new Fannie document. Why are they asking me?  The Fannie Mae form asks if we have a funding plan for deferred maintenance. Does that have to be a plan that's approved by the homeowners?  Our inspector did find problems on our buildings, but is that going to prevent us from getting a loan?