Cohousing-L Mailing List: Re: Supposed Mortgage Problems

[Sharon Villines (sharon]

On Dec 4, 2006, at 3:04 PM, Rob Sandelin wrote:

> Interesting. I have heard of 6 groups that had to rewrite and remove 
> some
> elements from their CC&R's and bylaws because the lenders would not 
> give
> them mortgages otherwise. We had a similar situation in my own 
> community,
> where a lender refused a mortgage upon the criteria that a prospective
> member read the cohousing book.

How long ago was this? I'm wondering if things have changed over time.

And whether this was when the group was getting initial mortgages or 
later in the process?

And whether the communities involved could confirm that it was the bank 
and not a well-meaning intermediary who suggested the changes.

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