|Re: Money again||<– Date –> <– Thread –>|
|From: Robert Cooper (cooppanix.com)|
|Date: Mon, 2 Aug 93 15:33 CDT|
Nancy, Thanks for the detailed information. With this current site, the option idea wouldn't work. The owner is FDIC and all they want to do is get rid of the land as quickly as possible. So fast, in fact, they are selling it with a somewhat unclear title. (Maybe this developer is doing us a favor. Silver lining stuff.) A question: Do you still have a contact at the National Coop Bank? My food coop (Park Slope Food Coop, Brooklyn NY), got a loan from them and I have the name and number of that contact person. But if there is someone there who knows something about CoHousing, I would rather talk to her. If I understand your system, people paid a $5000 dollar deposit, and then pay a monthly fee to build up the cash fund? If your already have a mortgage, you are outlaying a lot a cash per month. But it makes sense to spread out the downpayment over a year. I know most of my cash is tied up in my co-op apt. Other members are talking about home-equity loans till they sell their homes or apts. A lot of risk... I'll mention your system at our next meeting. -- Robert Cooper Brooklyn, NY | "We don't know who discovered water, but coop [at] panix.com | we're pretty sure it wasn't a fish..." 212 309-9600 (Work) | Attributed to Marshall McLuhan
- Money again Robert Cooper, August 1 1993
- Re: Money again Fred H Olson -- WB0YQM, August 3 1993
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