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Updated on March 31, 2013


Parkchester Condominium Corporation is creating poverty in the complex and nobody is doing anything about it.

Apartment owners, who have bought their properties many years ago, using their future nest egg as investment in purchasing those units, are losing them (properties), because they are not able to get into programs, such as the Federal government sponsored reverse mortgage program, which most of them qualify for.

The reason being that the corporation itself, somehow, cannot get HUD (Housing Urban Development) to permit it to apply for participation in order to allow unit owners, who have every right to do what they choose with their properties, to be in the program.

Parkchester Condominium Corporation is a privately owned company, and it will be voluntary on its part to apply to HUD, in order to enable unit owners to gain access to the department's programs.

In other words, it will be for Parkchester Condominium management to initially procure an opening permission to allow interested individuals to become participants in any program, including a reverse mortgage type.

It will only be then that unit owners can get FHA (Federal Housing Administration) approval into the reverse mortgage program to save their homes.

For several years, the corporation has been dragging its feet on the issue or just being callous to make a positive move on the issue.

As a result, unit owners are falling behind with their monthly "common charges" or "maintenance fees" , and thus appearing in the New York City housing court system on non-payment charges.

Remember, those being put out are senior citizens, and they have nowhere else to go, but to Nursing homes, shelters and facilities that are run by private companies, where they (seniors) are not familiar with strange conditions and practices at most of these places.

They are able to use their life's savings to purchase these units in the Parkchester area, but they are left helpless and sometimes homeless, just because the corporation might be forced to pay taxes out of its huge yearly profits, if HUD (and the IRS) will find it feasible to investigate its (corporation's) managerial operations, which can be sordid, and/or even an audit by the government will apply.

For that reason, perhaps, it is not likely for the corporation to open its books.

These unfortunate victims need the help of Attorneys and City officials, to put things right for them; and if any such sympathizers are willing to offer such help or any kind of assistance, they can contact "Emmanuel" at 718-597-8098. They can leave a message in his absence.


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