DEAR BENNY: Four years ago I bought the cheapest condo in town, intending to buy a house soon. However, I learned that our complex doesn’t qualify for mortgages that Fannie Mae would repurchase because landlords own more than half of the units in the complex.

What can we do to change our rules to make owner-occupancy go over 50 percent since landlords own the majority of units now? –Russel

DEAR RUSSEL: Many associations throughout the country are facing this exact problem. Fannie Mae, Freddie Mac and especially the Federal Housing Administration (FHA) have been so "spooked" by the number of association foreclosures — especially in California, Nevada and Florida — that they all have tightened up the qualifications one needs to buy (or refinance) a unit in a community association.

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