Condo Getting a Loan
 

Hi everyone,

Our condo is looking to get a loan to repair severe dock damange from the ice this year. I lived in a condo before that got a loan but I was not sure how they did it. Who signed for the loan? What was the collateral? And basically all the other details.

I wanted to know if anyone else had experience with condos taking loans and if you could provide any guidence. What quesitons should I ask? How did it work at your condo? What problems did you run into? Any other information you would like to provide me?

I really appreaciate any info anyone can give! Thanks!

I used to own a condo over on Paugus that needed to borrow for a similar reason. I recall the Management Company handled it for us. I believe it was a fairly simple affair.