Transcription of Document FFDoc-1284.pdf

April 29 1980 - Tues.

Dear Guys and Dolls (Husbands & Wives)

Now that Gen has decided to pull up stakes and head for the woods of Maine, we all have some homework to do. We have a $14000 mortgage on 244-87th St. which (I recall with a hint of uncertainty) will come due around October 1982 - just about 2 1/2 years from now. While I think we all felt in 1975, when the mortgage was obtained, that our purpose was to hold on to 244-87 St as a home for Gen while she is alive, that may not be our best-considered course of action now. I understand Gen has agreed to move to Maine with the clear knowledge that there is to be "no turning back." If that is truly the case, we need to determine anew our options, our obligations and responsibilities. We are all aware that the mortgage should be paid off, and that selling the house may be the easiest way to handle that problem There may be other alternatives, such as renting for income or (who knows?) somehow coming up with the mortgage principal ourselves, or (again, who knows?) renegotiating the loan with the same or another lender. Before we come to any conclusions without having all the facts, let's begin to think about possible solutions, and keep an open mind until we can get together for a discussion.

Joe can give us an assist if he can feel out the probable market value of the house in the near future, and whether a sale could be negotiated subject to a long-term lease for him & Marilyn. Also, what a reasonable rental figure would be for a new tenant (utilities included), and how much repair work would be required to get the flat in condition for renting. Ron has, for the past few years, provided me with annual expense figures on taxes, insurance and repairs, and I can dig those figures out to help estimate whether we could make any income, through renting, to help pay off the present or a renegotiated mortgage. Let's all put our minds at work to come up with possible options that we can discuss for action.

For discussion, could we all manage to gather at Ashley Drive over July 4 weekend, in about 2 months? July 4 falls on Friday, which means a 3-day weekend for traveling. We could plan for our discussion on Saturday, July 5.

I do not propose the big reunion we've had at other times, with your children and our cousins invited. But obviously M&J will have Regina to bring, if they care, and Vee may want to bring Brian. I'll leave all such decisions to you discretion and needs; in my own case Joe & Dorothy will be home, and Mary (who expects to be living/working in Saratoga) and Leo will probably "drop in" - you know how that is. Betty and Gen would be expected and welcome (non-voting delegates, I presume).

How about putting some brain muscle to work on these thoughts, and drop me a card to say whether we should all plan for Ashley Drive on July 5.

Best regards to all, Love, Frank.

(Anna & I still working to straighten things out between us).