When the loan to be refinanced is an underlying mortgage in a co-op, however, additional factors must be considered, the most significant of which is the prepayment penalty.
42.
"This deal took a dead-end situation in terms of refinancing the underlying mortgage and turned it into a positive, " said Naomi Gardner, a lawyer for the co-op.
43.
If the co-op owned the property subject to an underlying mortgage, on the other hand, the portion of maintenance attributable to interest on the loan would be deductible.
44.
This is the unit owner's proportionate payment on the underlying mortgage on the building, the debt owed by the co-op corporation that is secured by the building itself.
45.
Liebowitz explained that most co-op underlying mortgages contain what is known as a prepayment penalty, which penalizes the borrower if he pays off the loan before its term expires.
46.
Abe Kleiman, a Manhattan certified public accountant who specializes in co-ops and condominiums, said that somewhere in the financial statement there should be information regarding the co-op's underlying mortgage.
47.
"The biggest variable in a co-op is interest on the underlying mortgage, " said Greg Young, director of sales and leasing for City Living, a New York City real estate brokerage.
48.
The companies that can call the bonds-- in some cases the firms that service the loans by tracking monthly mortgage payments-- can retrieve the underlying mortgages, which pay lofty interest rates.
49.
Edelstein himself, not yet realizing any return on his investment on the unsold shares though earning 10 percent interest on a $ 1.9 million underlying mortgage, hopes to sell apartments eventually.
50.
"Some people argue that since interest is deductible and principal isn't, a building should not put itself in a position of repaying any of the principal on the underlying mortgage ."
How to say underlying mortgage in Hindi and what is the meaning of underlying mortgage in Hindi? underlying mortgage Hindi meaning, translation, pronunciation, synonyms and example sentences are provided by Hindlish.com.
