David Blair's (erablair) Blog

•           Attorney's fees: Fees attendant to the loan, including the bank attorney's fees.   •           Transfer agent fee: If the co-op has a transfer agent, the transfer agent gets a fee to review the recognition agreement; condos also sometimes have have transfer fees.   •           Co-op c...

•           Bank note: If you're closing on a house or condo it's called a mortgage. If it's for a co-op it's called a security agreement. The security agreement or mortgage "puts teeth into the note." A note is a piece of paper that says I borrowed the money and I will promise to pay it back. Th...