I live in a Jackson Heights, Queens co-op where the sponsor owns over 80% of the units. I'd like to sell my 1bdrm and would like to find a mortgage company that would lend to prospective buyers given this situation. (Big banks have already expressed the unlikelihood of lending given this situation.) Are there any mortgage brokers or other lenders that have lent under these circumstances?
ab_11218
about 12 months ago
Posts: 1888
Member since: May 2009
cash only. any building that is not way over 50% will not get a mortgage. you will be selling at a huge discount and you bought at a huge discount as well, if you had an attorney with any brains.
sammy300
about 12 months ago
Posts: 183
Member since: Mar 2012
Try Hudson City Savings Bank; Apple Bank or a portfolio lender thru a mortgage broker
I live in a Jackson Heights, Queens co-op where the sponsor owns over 80% of the units. I'd like to sell my 1bdrm and would like to find a mortgage company that would lend to prospective buyers given this situation. (Big banks have already expressed the unlikelihood of lending given this situation.) Are there any mortgage brokers or other lenders that have lent under these circumstances?
cash only. any building that is not way over 50% will not get a mortgage. you will be selling at a huge discount and you bought at a huge discount as well, if you had an attorney with any brains.
Try Hudson City Savings Bank; Apple Bank or a portfolio lender thru a mortgage broker