mortgage trouble
From: Catya Belfer-Shevett (
Date: Wed, 11 Oct 2006 07:41:02 -0700 (PDT)
I'd be interested to know this as well, and also whether any of the MA communities have experienced this.

        - catya

Sharon Villines wrote:
On Oct 10, 2006, at 7:32 PM, Mary English wrote:

Our community, Wasatch Cohousing, is reviewing our right of first
refusal clause this month, because prospective purchasers are being
refused morgages due to that clause.

Why are banks refusing mortgages? It seems that all they would care about is that someone would purchase the unit -- that it could be sold.

I would understand if the clause said the community had to approve the buyer. That isn't what right of first refusal means.

Sharon Villines
Takoma Village Cohousing, Washington DC

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