Usuallly if you meet the down payment requirements and have the income to debt ratio required by the building, the unemployment will not be a factor.

I recen;t had a customer with the same problem with a co op in Fort Lee, give me a call and I'll fill you in on what she did to satisfy the board.
201-739-1132
Bets of Luck!

Titus,

Are you still interested in purchasing a co-op in Fort Lee? If so, please contact me ---

201-602-0408
Thanks,

Cindy

It depends on each co op. The best thing to do is to call the management office, make an appointment , and sit down and talk to the person in charge. Then you will have a good picture of the decision making process.

Please contact me through my website and we can get more specifics on which co-op you are interested in.
I look forward to hearing from you.

Sharon Kozinn

Hi Titus,

If you are targeting a specific co-op where you definitely want to live, I'd probably wait. The market is soft and prices are dropping anyway.

On the other hand, you could call the president of the co-op board and just explain your situation and ask him flat out. Your high credit score may override the brief unemployment.

Your situation is typical of why many buyers decide against a co-op and choose a condo instead. No intrusive questions, far less power concentrated in the hands of a few busybodies, fewer rules, and more control.

Many co-ops won't let you rent your unit. Or won't allow pets. Or won't approve your renovation plan. I think they are more of a headache then they are worth frankly...

-Marc

Hello Titus,
You have a legitimate concern, although each co-op has slightly different approach towards your financial situation. I would recommend to visit management office and ask them your question. Also you need to know, that co-ops usually require 2 or 3 years tax returns, so your strategy might not work here. If you have any other questions please contact me at sofia_hom@hotmail.com
Good luck,
Sofia Ginzburg
Villa Valentina Realty
201-854-3477 #805