© Eric P. Gonchar. All rights reserved. No portion of this article may be reproduced without the expressed written permission of Eric P. Gonchar.
Refinancing an underlying mortgage of a cooperative corporation is a complex, time· consuming and expensive transaction. There are numerous tasks a corporation can do to prepare for a successful closing. The following is an outline of what can be done by the Board of Directors to pre-qualify the cooperative corporation for an underlying mortgage with a lender.