I own one unit –"A"- in a two unit association in Pembroke , Mass the building is a condex-two single family homes sharing a fire wall-no condo fees and insured as two single family homes. A unit 65% ----B unit 35%
The condo. association – – cond docs call for a master policy.
Three months ago I tried about a dozen banks to refi-in all cases the refi hits a brick wall due to lack of master policy.
Other unit owner will not go with master policy and if I get the policy on my own it would be a nightmare to collect premium from her.
Is there a better way to handle this master policy issue? Without a master policy I can not refii – If I can’t refi then a prospective buyer would not be able to get financing - thus I can not sell my unit.
If you have a solution I would like to meet with you.
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