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Hi everyone,
Several shareholders in my building have received foreclosure notices from the bank saying the coop owes new york state. I believe this is overdue water bills which we pay off each month.
Is anyone else experiencing this problem? Any ideas how to solve this beyond paying off the back bills? Is there some sort of work out the building can do with the water company?
We are not in a financial position to pay off the water bill in full but we do not want the bank to foreclose on individual apartments. We have our annual board meeting tomorrow and i want to provide some direction to shareholders who have received notices. Any advice is appreciated.
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