Cohousing-L Mailing List: still happening...........

[Leah (drsweetie]

Just an FYI for you choosing advocates- I was supposed to close on my house in 
Ashland Cohousing Community this week. (unfortunately I had to move to Missoula 
Montana, a nice place but one sorely lacking in cohousing) There was all sorts 
of delays from the buyers mortgage guy that I just assumed was typical 
paperwork stuff. He finally called me thursday to tell me that the wholesale 
mortgage company that was going to give her a loan had decided to turn it down 
because she read what the appraisal guy had written about having common 
property and being cohousing. He read me what the appraisal said. It was very 
positive. However this chick in an office decided that wasn't a life she would 
live so she said that the potential market for people that would want to buy 
this house (I assume if it foreclosed) was too narrow so it was too risky. The 
mortgage guy was really angry about it and sent all this info about other 
houses that had sold in our community, which is only really 3 because we have 
only been there 8 years and of course because we love cohousing and don't want 
to leave! I didn't hear back yesterday so I assume she didn't buy it and now my 
buyer has to start all over again! I have no doubt she will get a loan so it is 
not a huge problem but it is pretty upsetting that people still look at this 
very desirable form of housing as a "downside"! I wanted to send her just the 
queries of interest we get on our website every week and ask her how this could 
be a downside!