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To be even more competitive, a few lenders have resurrected the standing or interest only loan, a product rarely seen since the free-wheeling '80s.The monthly payments on standing loans are substantially lower because they include just interest on the outstanding loan balance and no amount to repay the principal.Third, lenders use a host of factors to decide whether or not to make a loan. Sell-out and owner-occupancy percentages are two more.

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Any relief from a maintenance reduction will only be temporary and relatively minor.

Instead, boards would be wiser to adjust the amortization schedule of their new loan to absorb most, if not all, of any savings in their monthly payment.

Alternatively, a five-year loan could have a five-year amortization schedule.

As you might guess, the monthly payment for such a loan would be much higher since the repayment period is shortened from 25 years to just five. They produce the lowest monthly payment of any loan structure.

Bidding wars are the rule rather than the exception, and board review committees are being very selective as to whom they admit as new shareholders. Remember that it wasn't all that long ago that apartments went begging and committees had no one to interview but subletters.

In a down market, both lenders and buyers are much more critical of a building's financial profile.Of all the words in the financial lexicon, amortization may be the most difficult to pronounce.Its syllables are regularly rearranged into a wondrous array of stammered approximations. Quite simply, amortization is the repayment of some, or all, of the amount borrowed in a gradual and systematic way over the life of the loan.Loans with amortization schedules equal to their term are called self-amortizing or self-liquidating loans. For the co-op whose budget demands the absolute lowest payment, a standing loan may be the appropriate option.But for everyone else, amortization is the way to go. ffb The first reason to amortize is the current market.It is impossible for the schedule of amortization (or repayment) to be shorter than the term (or life) of the loan, but it can be longer.

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