Open Thread

so I just read DeLepps link. It is about California….
I thought that 15000 number seemed too out there for NewYork.

RENO on COOPS is impossible unless you find a hard money lender willing to help you. Problem is that coops have right of first refusal so many banks that would do reno loans won’t on coops due to the legal issues of foreclosing on a) coop shares b) a property that is in the middle of a rehab.

The banks are taking worse case scenario. They expect you to close on Monday, lose your job on Tuesday, and stop paying them on Wednesday. That’s their mindset right now. It’s all about protection and saleability.

if you want more monies directed into your own community, would it be better to lie and say your income is very very small or very very high? im confused as to how they allocate services based on neighborhood income.. on one hand i would imagine if a neighborhood had a very low median income that MORE services would be allocated there, but i wonder if that’s really the case and in fact more and better services are directed at neighborhoods with a higher median income.. thoughts?

i also nixed working for the census cuz of the guy in the south who worked for them was wound up getting hanged! also there’s stories of census workers getting beaten up, assaulted, etc if they have to do door visits to people who dont mail them in. i had no clue the biggest quality the census is looking for in a working is being a intrusive pest!

*rob*

m4l, they are tough. I got one done 2 weeks ago but also just got one denied yesterday, although the one yesterday one woman owned 2 out of the 4 units. It’s really case by case. You can email me the address and/or the name of the coop corporation and I’ll check my database to see if it’s already approved.