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It's been great to read through this forum, which we found about a week ago. We selected an apartment last week. We saw a few people posting here looking for attorney recommendations. Our attorney, Greg Kourakos, has been excellent so far. He is one of the attorneys on the list that we got from La Celia (listed as John Gregory Kourakos). He has a lot of experience that makes him very knowledgeable about these subsidized buildings. Also, he is very flexible with scheduling and easy to reach by phone.
Here is the information for his office:
Kourakos & Kourakos
271 Main Street
Eastchester, NY 10709
Tel: (914)395-0871
Fax: (914)395-0415
Hey, guys!
I hope all is going well with the process. I was wondering why all this push for CHase? I know someone else that is also around the same time line as far as the process goes as I am that told me that the sales office practically said that Chase was the only bank not giving problems with Mortgages. Not only that, but that it had to be done through this Dave Forbes guy. I mean, really? This is sounding a little fishy to me.
Please someone enlighten me. I tried today with Citi Bank and felt pretty good about them.
El Barrio Girl, I recall someone who attended the info seminar stated that Bank of America and Chase were there. So Chase would not be the "required" mortgage lender. I know from researching that Sonyma mortgages are set aside for half the buyers and can be obtained from a group of different lenders, including Chase & Citibank. Unless you were told specifically to use Chase (and some co-ops do make limits on whom you can use) then I'd go with who gives you the best rate, closing cost and who you feel good about. Chase is possibly easier to deal with if they are part of the bigger financial picture and they may have a requirement for a % of the mortgages. Only the Sales Office can answer your question as to why "Chase", you might also ask your attorney if they have any insight. My guess is it's only a preference and not a requirement. Let us know if you find out.
update:
I just checked out the Sonyma website and Dave Forbes is a top producing loan officer (2011) for Chase and utilizing the Sonyma products. I now would gather that you are hearing his name because of his credentials and he knows how to get the mortgages/applicants approved. Doesn't sound fishy at all, just a hard working industry professional.
Last edited by marshland; 09-19-2012 at 08:18 AM..
FYI People, i'm still deparetly waiting to hear from La Celia. I'm looking into something as a back up and I'm working with my attorney Ira Kazlow. I reccomend him to anyone who is in need of an attorney. He charges a flat fee (alot less then these other attorneys) and he's very knowledgable and prompt. He actually help my dad buy his house in 2000
Ira kazlow
118-21 Queens Blvd
Forest Hills, NY 11375-7201
Phone (718) 268-9223
Fax (718) 544-4803
irakazlow@verizon.net
thanks for the information. I am also looking into a backup. I just made my appt w/NHS, they finally got back to me. Lacelia should be calling you within the next two weeks, so we will be looking forward to that post from you.
thanks for the information. I am also looking into a backup. I just made my appt w/NHS, they finally got back to me. Lacelia should be calling you within the next two weeks, so we will be looking forward to that post from you.
Cool.
Also people M&T bank is offering $2k towards closing cost. Chase, BofA, & Wells Fargo as far as I know don't offer any downpayment/closing cost assistance with a SONYMA Loan
I'm curious about M&T Bank. While I see them on the Sonyma list I do not see a distinction of a coop vs condo mortgage. Have you spoken to M&T to verify if they offer nyc coop mortgages? I've never dealt with them and they were not around when I was in real estate so I'm just wondering. I also wonder if they are an approved lender by La Celia? Anyone with an offering plan have info on approved lenders??
Some of the banks you mentioned do offer FTHB assistance or at least they say they do. I know that many offer buyer assistance when you deal with the bank directly but on a smaller scale.
According to the offering plan the only lenders we are allowed to work with are citibank and chase, it's a bit frustrating because this limits us..
Thank you NYC10029
Appreciate that feedback which explains some of the comments people have made about lenders. It's very common for a coop to offer limited lenders however I recall someone saying Bank of America was at one of the La Celia info seminars. If they were there then why are they now excluded? I hate BofA so I would never use them. At least those of us still waiting can now research citibank & chase instead of a bunch of unapproved banks.
NYC10029...how's your process going btw? Are you in escrow and now just sitting back waiting or busy providing chase with a million copies of your financial records since birth? Love to hear if you've learned more...Cheers!!!
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