Earlier this year, Fannie Mae and Freddie Mac announced important changes to condominium reserve funding requirements. Management companies and condo boards nationwide need to take the changes seriously and act now.
Over the past week, the stock market has suffered major losses that make even the most confident Wall Street trader stressed. Many community association board members also have been wondering: What should we be doing with our reserve funds right now? By grounding your community’s reserve strategy in timing, needs, and structure, you can reduce anxiety and increase confidence even in the face of market uncertainty.
