Cohousing-L Mailing List: Re: Mortgage lenders and cohousing

[Sharon Villines (sharon]

In this discussion it would be most relevant if you distinguish clearly between 
mortgages awarded _after_ April 2012. That is when federal regulations changed. 
Any experience before that date is not helpful in the current climate.

I just checked our most recent sale, for example. It was completed in April but 
the negotiations had been done in March. And since it was a purchase from a 
long gone owner who had been leasing and was then in bankruptcy court, there 
may have been judicial intervention as well.

The buyer also reported that 3 years before, they had gotten a mortgage 
approved the next day. In March 2012, it took a month. (He uses eTrade but they 
no longer do mortgages.)

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