Borrower must be age 62 or older No monthly payment is required Must obtain co-op board approval in most cases Proceeds can be used for any purpose No financial reports, credit history or medical reports requir…
Some co-op boards and their attorneys are reluctant to allow their tenant-shareholders to obtain reverse mortgages. They tend to apply a forward mortgage criteria and a forward mortgage mindset to such a request - but this type of thinking…
In today's fast-paced world, it seems technology is moving faster than it ever has. Just when you think you have the latest equipment for anything from telephones to televisions to computers, along comes something else designed to be bette…
In the past, if you were considering buying a co-op or condo apartment, you would have relied mostly upon the classified ads in the local newspapers and journals to find your broker and your new home - or perhaps you would have passed seve…
Advances in technology are influencing virtually every area of our lives and for decades, condos and co-ops have taken advantage of technology to make their buildings run smoother. Things that are now commonplace - like intercom systems, v…
Few things are more precious to people than feeling safe and secure in their homes. We all want to feel protected from crime and prepared for any emergency that might arise, and in urban co-op and condo communities, the issue of security a…
When we hear the term "Hazmat" - shorthand for "hazardous materials" it usually conjures images of guys in silver moon-suits and respirators, arriving on the scene of a tanker truck collision or industrial emergency involving dangerous w…
All it takes is a single spark. Fires can destroy property and destroy lives in a matter of minutes. In 2003, the New York City Fire Department (FDNY) fought more than 27,000 structural fires and the New York City Red Cross responded to an…
Security has always been a concern in New York City’s co-op and condo buildings. Whether you’re a manager, board member/shareholder, or unit owner in an urban co-op or condo, your building isn’t just your home; it’s a community, and a safe …