A monthly mortgage payment includes at least two parts: an amount that goes toward the principal of the loan (the money you’ve borrowed) and a second amount that goes toward interest (the cost of borrowing the money). For most homeowners, however, there is also a third part of the mortgage payment: an amount that is … More What’s in a Mortgage Payment?
It is rare that maintenance will go lower. This usually occurs when either the co-op has a large windfall, usually related to a commercial property or some other business transaction, such as an insurance settlement, which allows the co-op to have a budget surplus and therefore decrease maintenance in the next year. Also this can … More Will my co-op maintenance fees ever go down?