Re: Mortgage lenders and cohousing
From: Don Benson (benson6451aol.com)
Date: Mon, 27 Aug 2012 11:53:44 -0700 (PDT)
Yes.  Explicitly my intent is not to hide anything, rather just not to use the 
opportunity to market the concept, in all its variety of manifestations and 
detail that could raise points of potential interest or concern that are not 
generally not relevant to the basic lending activity.  

If and when the question is asked, we have found there to be many very simple 
and brief responses that suffice.  We generally find lenders placated by 
limiting our responses to describe out intent to build community and that in 
every other way we are a condominium.

Don Benson
503.296.7249

On Aug 27, 2012, at 11:06 AM, Lautner, Patricia wrote:

> 
> Most cohousing communities have the word "Cohousing" in their name.  Kind of 
> hard to hide if it's the name of your HOA.  
> 
> -----Original Message-----
> From: Don Benson [mailto:benson6451 [at] aol.com] 
> Sent: Monday, August 27, 2012 2:05 PM
> To: Cohousing-L
> Subject: Re: [C-L]_ Mortgage lenders and cohousing
> 
> 
> Question for me is why do we need to inform lenders about cohousing?  This is 
> a huge project that may start with Chase, but will need ripple through every 
> lender and Fannie and Freddie and FHA and become part of the training for new 
> lending clerks and officers everywhere before it is done.  Who wants to carry 
> this banner?
> 
> Potential buyer care, but lenders are interested in financial value only.  My 
> understanding is that because the comps are available on-line, even 
> appraisers are becoming less important except for high value risk loans.  
> 
> Don Benson
> 503.296.7249
> 
> On Aug 27, 2012, at 10:32 AM, Sharon Villines wrote:
> 
>> No one even has a litmus test for cohousing. And Chase thinks it knows what 
>> it is? They should tell us their definition so we know who we are.
> 
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