How many Charlotte apartment complexes will seek FNMA for assistance? (mortgage, loans)

[Brooklyn_QueenBee]

But have we wondered how many of our apartment complexes are struggling to stay afloat. What are the ramifications upon tenants like myself. We are concerned with the homeowner, as we should. But we also need to concern ourselves with the complexes. FNMA has set aside billions of dollars for the purpose of stabilizing apartment complexes through their DUS program. Let's hope complex owners know how to seek aide before its' too late.

[brokensky]

Originally Posted by arussell

But have we wondered how many of our apartment complexes are struggling to stay afloat. What are the ramifications upon tenants like myself. We are concerned with the homeowner, as we should. But we also need to concern ourselves with the complexes. FNMA has set aside billions of dollars for the purpose of stabilizing apartment complexes through their DUS program. Let's hope complex owners know how to seek aide before its' too late.

Good point. I am not well-educated about all the nuances of this. Does it matter if those complexes are owned by individuals as opposed to corporations? I have seen NOTHING written about any of this. ????

[Brooklyn_QueenBee]

Ani, it does not matter if they are owned by indiviudals or corporations. However, there are multiple deals in the work with FNMA concerning multifamily, nursing homes and student housing. FNMA will not seek the individual or organization; they must contact FNMA for assistance.

Here's FNMA Resource Guide for authorized lenders: REBusinessOnline - Fannie Mae DUS Resource Guide

This will turn into a mortgage mess if owners and individuals are left to their own vices.

[brokensky]

Oh my. I wonder how informed people are. I have a client who is involved w/ an assisted living project. I will contact them and pass this on.

Thanks for heads up, AR!!!! Just wonder how many people have no clue . . .

[brokensky]

Okay - have been thinking about this since you first posted. Where do I get more info about qualifications for the loans? Any suggestions? I have two clients who don't have a clue as to whether or not they may qualify and I seem to be of no help at this point. They own eldercare units, and are struggling. This is not-for-profit. One is a critical access facility.

[Brooklyn_QueenBee]

Disclaimer: I am not associated, nor do I represent FNMA.

Here's a link to FannieMae. Your client could read about the program and do their research. FNMA has many authorized lenders in various cities.
Multifamily (http://www.fanniemae.com/multifamily/index.jhtml?p=Multifamily - broken link)
www.efanniemae.com

[brokensky]

Really appreciate all the info. I need to become more educated about various lending possibilities to be of better assistance to hospitals and nursing homes.

Thank you so much!!!!