Profile picture for InsurancePoloTower

Polo tower 4180 n marine dr has only $1 million for insurance instead $3 million does this matter?

Tried to refin declined because the HOA insurance policy is $1 million vs $3 million is this right?
  • December 04 2011 - Buena Park
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (4)

Profile picture for user0124678
Unfornately, there are 189 units of which 87 or a little less is owned by Rany Management, President Dorothy Yassan and she and her family own them and run the HOA plus their management company. A few tried to get the other owners to realize this but they believed what they wanted now the people is an embarrassment!
  • June 30 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Matt Laricy
This building is a mess. So I can see why they wont let you refin in here. I am not sure about the 1 v 3 million though. Have you contacted a few different lenders to see if this was right? I would try different options.
  • December 05 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Sharon Lewis
If this building is in trouble, then its time for all of the home owners, every single one of them, to sit down and get this building back on its feet to protect your investment. Ask the lender if they can refer you to someone who might help you refi. Yes, they can turn you down if there is not enough HOA insurance.
  • December 05 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

That building has had incredible problems from day one of the half assed conversion. The developer did nothing to the common area of the building, sold most units 'as is' and charged a-la-carte prices for any upgrades, got caught when the market bubble broke and eventually walked away from the project. Everything is a short slae or foreclosure. There was or maybe still is abulf foreclosure sale of units because no one wanted them. Owner occupancy is low. I would never let any of my clients go near that building. It was and is a mess.
  • December 04 2011
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.