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Coop Mortgage Recording tax

Started by villager

almost 16 years ago

Posts: 149

Member since: Apr 2009

Discussion about

http://therealdeal.com/newyork/articles/proposed-co-op-loan-tax-in-governor-paterson-budget-could-bring-city-50m-a-year

Response by bjw2103

almost 16 years ago

Posts: 6236

Member since: Jul 2007

This would probably hurt co-op values a bit. I imagine they're doing this out of "fairness" but co-op owners probably aren't thrilled.

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Response by villager

almost 16 years ago

Posts: 149

Member since: Apr 2009

It will certainly be interesting...

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Response by Topper

almost 16 years ago

Posts: 1335

Member since: May 2008

Aren't interest rates on "coop loans" generally higher than "condo mortgages?"

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Response by shong

almost 16 years ago

Posts: 616

Member since: Apr 2008

topper - quite the opposite. Youre likely to find rates higher on condos especially when putting down less than 25%. sunny.hong@bankofamerica.com

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