Bear Stearns in Danger of Collapse… Dow Falls 400 in One Day… Big Three Automakers Seek Emergency Aid… Citigroup Shares Tumble Below $5 a Share… Dow drops below $8,000… Federal Regulators Shut Down Two California Thrifts… More Consumers S…
Whether you own your own home or not, you can’t help but know about the subprime mortgage crisis that is sweeping across America as foreclosures are claiming people’s homes everywhere we look. Well, almost everywhere. Even in light …
Q I live in a Mitchell Lama co-op which is starting the process of privatization. We have a very large mortgage that has many years to go until it is paid off. We also have a large reserve fund for various contingencies. At a meeting r…
When one looks at the real estate market in New York City—which, excluding such homeowners’ havens as Bay Ridge, Bayside and Staten Island, usually means the apartment market—one sees a picture similar to last year. All over the country, on…
I’m a condo owner in New York City. I have written to the management company of our condo regarding some issues I have been having, but the management company has not taken any action to remedy the situation. I would like to make my mai…
For almost a year now, we have been hearing more and more about the subprime mortgage crisis. Subprime mortgages are mortgages that banks sell to borrowers whose problematic credit ratings do not allow them to get mortgages at better rat…
Carrying on The Cooperator's popular series of "roundtable" discussions for professionals in various disciplines of the city's residential real estate industry, a group of representatives from the worlds of co-op and condo law, finance a…
In the early 1990s, thousands of New Yorkers purchased apartments in newly converted co-op buildings; in the early 1990s, thousands of New Yorkers also watched their investments collapse. The co-op market was tanking, equity was at risk …
As the cycle of work from the most recent Local Law 11 deadline expires, buildings inevitably must resolve issues over fees they owe to the contractors who did the work, completion of the work and questions about the quality of the …
Q I have an accepted offer on a condo in Manhattan, and I have a letter of commitment from my lender. Before proceeding to submit my application to the board, I was instructed by the managing agency that submission of tax returns, payr…