Monthly Archives: August 2012

Refinancing Your Mortgage?

By Randall A. Pentiuk & Joseph G. Couvreur, Esq. The refinancing of a cooperative is a expensive and time consuming process. One of the cost associated with refinancing involves the purchase of land survey which is known as an ALTA survey.  Lenders commonly require such a survey. ALTA stands for American Land Title Association and […]

Nightmare on Board Street

By Randall A. Pentiuk & Brittny Harris, Esq. It was a quiet, peaceful community, until residents of a housing cooperative insisted on keeping a pet.  Many housing coops do not allow pets in their units, and advised the members that they could not keep their dog, even though the member had a note from their […]

Does your housing cooperative have a member selection policy (TSP)?

By Randall A. Pentiuk, Esq. Most housing cooperatives have a tenant selection policy, which helps ensure that tenants are selected for occupancy in accordance with either HUD requirements or state, federal and local laws.  If your housing cooperative is regulated by HUD, then there are specific guidelines you must follow in order to continue to […]

Avoiding Liability When Selecting Tenants

By Randall A. Pentiuk, Esq. The federal government recently amplified its pledge to reduce discriminatory practices that limit opportunities for minority groups. The U.S. Department of Housing and Urban Development issued a new rule on March 5, 2012 that prohibits discrimination based on sexual orientation in HUD assisted programs. In addition, the Consumer Financial Protection […]

Urgent National Update for Cooperatives

By Randall A. Pentiuk, Esq. Unless Congress miraculously acts in a bi-partisan manner, the federal government will be forced to have automatic 8.4% across the board spending cuts beginning January 1, 2013. All government assisted cooperatives should start to plan for the likely event that these cuts become a reality. What HUD will do and […]