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Real Estate & Property Law

: The Home Equity Theft Reporter

Queens Co-Op Board Of Directors Accused Of Taking Out $12M In Mortgages On Building Without Unit Owners' Consent

By r morris

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In Elmhurst, New York, the New York Daily News reports:Shareholders of an Elmhurst co-op are locked in a legal tug of war with its board of directors, accusing it of taking out $12 million in mortgages without their knowledge. Shareholders of the Continental, at 87-10 51st Ave., said they only found out about the two $6 million loans when they got court papers in June warning that the co-op was

Full post as published by The Home Equity Theft Reporter on September 16, 2009 (boomark / email).

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