Mortgage Dilemma


We are very close to getting our mortgage. The house is a legal 2 family that is being used as a 1 family. There is not kitchen in the old rental. During the mortgage process we told the bank we may re-convert it back into a rental. Because the bank is taking so long, the closing is coming up very quickly. They emailed yesterday wanting to confirm that we will be renting out the bottom floor as they didn’t account for that in the appraisal. And if we are, they will have to come out a re-appraise and we will also be given a different mortgage rate. They said if we leave it as it is and then decide later to rent it out, they have the right to ask for the mortgage to be paid back in full immediately.

At this stage we won’t get the mortgage on time. Can we just say we won’t rent it out and continue with the process? If we do decide to rent it in the future, how will they know? It’s already a legal two family.

Categories: Mortgage
By CobbleHilller | 07/17/2009 9:42 AM | Comment

ALL PARENTS – PLEASE READ


Zander Toulouse, an 8-year-old boy known as the “little professor” was struck and killed by a mail truck Saturday while biking on Boerum Place/ Adams Street with his father.

http://mcbrooklyn.blogspot.com/2008/09/intersection-where-boy-died-in-downtown.html

By CobbleHilller | 09/08/2008 2:36 PM | Comment

Foundation Specialists


Can anyone recommend a contractor that has experience with foundation walls.

tia

Categories: Construction
By CobbleHilller | 07/11/2008 2:22 PM | Comment

DOB Filling


Is there a way to check the status of a DOB filling online.

Is there a link you can point me too?

Do I need the filling number, or can you do it by block/lot or address.

tia

CHilller

By CobbleHilller | 03/17/2008 11:19 AM | Comment

! New Parking regulations in Sth Slope !


I was walking down 7th ave yesterday and noticed (thanks to Big Nose, Full Body wine store) that at least from 9th St south, they have changed the parking restrictions.

Its now 1 hr parking and street cleaning EVERY day

Just a heads up

Categories: Quality of Life
By CobbleHilller | 02/12/2008 9:14 AM | Comment

C of O Question


We are in contract to buy a townhouse. The previous owner bought it as a two family and renovated to make it a one family. He was in the process of changing the C of O to a 1 family when he put it up for sale

Now the sale is being held up because it hasn’t gone through yet.

My question is, does it really need to be changed?
I would rather it stay as a 2 family, so that it gives us more options

tia

By CobbleHilller | 02/07/2008 5:50 PM | Comment

Condos on 15th st?


Does anyone know what the new buliling going up on 15th btw 7th & 8th,across the st from the Armory is?

Condos?

By CobbleHilller | 01/14/2008 2:26 PM | Comment