Coops May Want to Consider Refinancing Right Now

With COVID-19 infections and deaths rising to terrifying levels across the nation, it’s a consolation to co-op boards to know that one number has fallen to historic lows. With interest rates now around 3%, a growing number of co-op boards are approaching banks seeking to refinance their underlying mortgages. But if your board is considering joining the stampede, it needs to know that the lending landscape has changed in ways that go far beyond today’s enticing interest rates.

Just published in Habitat magazine is an article entitled, There Has Never Been a Better Time for Co-ops to Refinance that addresses this issue.

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