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Buying & Selling FHA Eases Financing Regs
FHA Eases Financing Regs

The Federal Housing Administration (FHA), which insures mortgages made by private lenders and banks, will ease condo financing regulations to open up homeownership for more first-time buyers, effective October 15, reports Yahoo! Finance.…

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Buying & Selling Condo Contract Crisis?
Condo Contract Crisis?

The National Law Review is alerting litigators to be prepared for a rash of lawsuits related to a possible looming housing recession, likening the outlook to what happened in 2008’s economic crash. As the condo developers of a deca…

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On The Board Updating Your Documents
Updating Your Documents

The governing documents of a housing development—be it a cooperative, condominium, or homeowners association—spell out the rules, regulations, and policies that all unit owners or shareholders are obligated to follow as a condition of their…

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Buying & Selling Condos Exempt from LLC Disclosure Law
Condos Exempt from LLC Disclosure Law

Back in September, Governor Cuomo signed into law a bill passed by the New York State legislature meant to make public knowledge the actual owners of one-to-four family homes purchased under the guise of LLC’s, limited liability corporation…

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Real Estate Trends Holiday Tipping  Etiquette
2016 November Holiday Tipping Etiquette

Whether you live in a suburb or in the heart of the city, life is expensive. Sometimes it can feel as though everybody from the barista at your favorite coffee shop to the kid who bags your groceries is trying to nickel-and-dime you half to…

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Q&A Q&A: Is My Co-op Ignoring ADA?
2019 November Q&A: Is My Co-op Ignoring ADA?

Q. My 88-year-old mother has just moved into a co-op on Staten Island where I am also a shareholder with a legal parking spot in the building’s garage. My four sisters and I are her daily caregivers. She is unable to walk securely to any …

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Q&A Q&A: Staff Holiday Fund Tax Implications
2019 November Q&A: Staff Holiday Fund Tax Implications

Q. For more than 30 years, my condominium building has had a resident-managed fund that collects cash gifts for the staff at holiday time. This has worked very well and was always 100 percent independent of the condominium board and the m…

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Q&A Q&A: Improper Power Grab Threatens Co-op
2019 November Q&A: Improper Power Grab Threatens Co-op

Q. I live in a Housing Development Fund Corporation (HDFC) building in the Bronx. My building has no meetings or elections, and shareholders are not informed of our financial status at all. The treasurer’s son has taken complete control a…

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Management Inheriting Co-op Shares
2019 November Inheriting Co-op Shares

Say you and your spouse own a single-family home. You’ve got two grown kids and a couple of grandchildren. When the time comes, assuming your will and other end-of-life documents are in order, seeing to it that your property and assets are …

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