Category: Finance

There has been a recent push by federal, state and local legislators to get reverse mortgages or Home Equity Conversion Mortgages (HECM) approved for residential cooperatives. The federal Department of Housing and Urban Development (HUD) h…

Sometimes the future seems like it’s an awfully long way away. If a roof is going to last 30 years, why should we worry about it today? Same with that shiny new air conditioner or that flat, crack-free pavement just poured two summers ago.…

Those of us without engineering degrees tend to take the buildings in which we live and work for granted. We simply assume that if we go indoors, the ceiling isn't going to suddenly collapse. Of course, buildings can remain upright and str…

Taking care of a co-op or condo building’s budget and finances is a big job. Handling such large sums of money is an important responsibility, and not every shareholder or unit owner has the expertise to do the job well. Sure, most people …

Imagine sitting down with your significant other to pay the monthly bills. You both put your checks into a joint account and know how much there is to take care of expenses, or so you think. Out of his wallet your husband pulls out receipt…

The slowly-ebbing recession that’s been going on in South Florida and across the nation since the mid-2000s has affected far more than home prices and mortgage rates; it also has a huge effect on monthly HOA fees. The great majority …

In an upscale lakeside community near Orlando, the pace of home sales unaccountably accelerated in 2009. At first, the new owners paid their assessments and fees. Then some of the homes were rented to subtenants, and others changed hands a…

As the 2012 federal legislative fiasco over the debt ceiling—as well as any number of other spending bills proposed since then—demonstrated, balancing a budget can be like pulling teeth. Balancing a condo or HOA community's budget can some…

Preparing the annual budget is by no means an easy task. Those charged with preparing condominium or HOA budgets will soon begin reviewing costs, gathering data and projecting expenses for the coming year. Communities, businesses, individu…

These days, just about everyone is cutting back on spending, whether to make ends meet, save for something special or a rainy day, pay off debt or fund their retirement. Consumers are cutting coupons, looking for deals and keeping a cl…