Cohousing-L Mailing List: Re: Cohousing-L Digest, Vol 33, Issue 14

[MikeAngelastro (MikeAngelastro]

Please read my response.  It's FHA and VA policy.

-------------- Original message -------------- 
From: Sharon Villines <sharon [at] sharonvillines.com> 

> 
> 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 
> ----- 
> Sharon Villines 
> Takoma Village Cohousing, Washington DC 
> http://www.takomavillage.org 
> 
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