Category: Finance

Finance
2018 July When Associations Borrow

Whether it’s a renovation, an emergency repair, or anything in-between, condos, cooperatives, and homeowners’ associations are rarely not spending money on something. And while they may have reserves on hand to pay for its latest project, m…

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Finance
2018 July Underlying Mortgage Refi

Home comes in many shapes and sizes. Some prefer the elegance of prewar apartment buildings, while others lean towards the high-tech brilliance of a brand-new building. And there are those who like the small-town, neighborly feeling of a br…

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Finance
2018 July The Tax Act of 2017

The Tax Cuts and Jobs Act of 2017 represents the first major restructuring of federal income taxes since 1986, and ushers in serious changes to how co-op, condo, and HOA owners will benefit from home ownership. In many cases, the new law wi…

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Finance
2018 April Underlying Permanent Mortgages

One of the components that makes co-op ownership unique is its financing structure. Unlike a condominium, the property is owned as a whole, fee-simple estate – and so the entire property can be encumbered by a permanent, long-term loan. Thi…

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Finance
2018 March Curing Arrears

The last three apartments in your luxury hi-rise condo were sold to a troika of Russian oligarchs, who all paid well above the asking price. But now those oligarchs are on the sanctions list, and have withheld their monthly maintenance fees…

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Finance
2018 January HOA Financial Statements

Members of a condominium or co-op homeowners’ association (HOA) have a fiduciary responsibility to manage their community’s funds wisely, and to protect the financial interests of all owner/shareholders. Breaching this duty carries the real…

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