6 reasons why your mortgage application might be denied or delayed that have nothing to do with you

… there are issues with the building  A missing certificate of occupancy  a buildings lack of  reserve fund a low … certificate of occupancy C of O can throw off your mortgage process Banks need at least a temporary certificate ofat a buildings financial statement  at any point in the buying process to get an indication of whether a lender will …

By Brick Underground |November 11, 2025 - 4:00PM
What repairs are co-op and condo owners responsible for, and what do buildings take care of?

… rules called  the warranty of habitability that details the services a landlord must provide in order to keep the … He said that in most cases if the window frames are in disrepair a coop board has a responsibility to maintain them … habitation but isnt responsible if damage is caused by a tenant or shareholder For example if a resident throws a …

By Brick Underground |August 26, 2025 - 9:30AM
Buy a co-op at a discount: All about HDFCs and how to get one

Affordable housing in New York City typically refers to rentals but … to $185 million for a two bedroom on Riverside Drive in Washington Heights  Each listing typically provides the … of $594  … How HDFCs work … HDFCs were formed under various state regulations including private housing finance laws and …

By Evelyn Battaglia |August 11, 2025 - 10:30AM
Here are 8 real co-op board reference letters from successful buyers

… the community  This is where references come in provided in letters from close friends and work colleagues that attest … you with your application weve collected actual reference letters from buyers who landed their desired coops with … everyones privacy  Most board packages require four to six letters Its a good idea to ask for three letters from …

By Brick Underground |August 1, 2025 - 9:30AM
The pros and cons of buying a co-op sponsor unit: You don't need board approval, but you'll likely pay a premium

… listings  A sponsor coop is an apartment being sold by the buildings owner or the corporation that established the coop … coops despite the wear and tear they may have faced as rentals These places can also have higher closing costs than … be useful for the renovated units to help determine the quality of the upgrades If youve purchased a sponsor …

By Celia Young |July 24, 2025 - 11:30AM
What is a community land trust? How does it help low-income buyers?

… Dallas said … $14 million for Interboro CLT … New funding for Interboro CLT may help raise the profile of what … these organizations do Representative Hakeem Jeffries House Democratic leader announced last week he secured … a say in how their building is run The CLT provides ongoing services to the building such as financial guidance   Dallas …

By Jennifer White Karp |February 25, 2025 - 2:00PM