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Financing in Rossmoor : Real Estate Advice

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Fri Jul 3, 2015
Margaret Price answered:
HI, Getting a loan on a co-operative unit in Rossmoor from most lenders is difficult as the lender will always want the first lien position. Because of the way the co-ops are set up in Rossmoor, the Mutual who owns the buildings and common space are, in fact, the holders of the first lien. Therefore, the only lender I have found who will make a loan and take a second or junior position lien is National Co-operative Bank (NCB) out of Ohio.

Let me know if I can help you!
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