Many sellers will leave my office after signing their contract and start scheduling appointments to look at potential homes to purchase. If they happen to find the right home too soon, it may be risky to proceed to contract until the purchaser of their home has received an unconditional written mortgage approval. By entering into contract … More Home Sale Contingency
So your home is worth less now than it was last year. Why not file the appropriate application with the tax assessor’s office to request a reduction in property taxes based on this decline in value. The video link that follows will serve as a good starting point to help you understand the steps you … More Lower Your Property Taxes
If so, you have lots of company. Approximately 20% of the mortgage defaults so far this year involved borrowers who could afford to pay their mortgage according to Experian, the consumer credit agency. They go on to report that it does appear that the pace of these defaults is slowing however. This is in part … More Are you thinking of a Strategic Default on your mortgage?
For over 25 years the Law Office of William J. Reinhardt, Jr. has guided families on their Brooklyn NY home purchases as their real estate attorney. Here are some of the top things Buyers should know as they forge forward on their dream to own a home: 1. Don’t buy if you can’t stay put. … More Buying a House- Top Things To Know
The financial-regulatory overhaul will result in some big changes in how Americans go about getting a mortgage. The goal is to make loans “safer” for those seeking them. As a result, fewer borrowers will qualify. This will also add to the cost of lenders making loans, which cost will likely be passed on to the … More How Financial Overhaul Changes the Mortgage Market
The New York Times reported last Thursday 7/8/10 that one in seven homeowners with mortgages in excess of one million dollars are seriously delinquent on their mortgages. By contrast, one in 12 homeowners with mortgages below one million dollars is delinquent. According to Corelogic, the company that compiles such real estate anaytics, the reason may … More Biggest Defaulters on Mortgages are the Rich
I have noticed many more homeowners are deciding to just walk away from their mortgages due to the decline in the value of their home. A recent study reveals that those who take this route are dealing with the value of their home being 75% or less than the amount of the mortgage balance they … More Walking Away From a Mortgage
One bright spot in this still dismal housing market is the historically low interest rates available to borrowers on mortgages. The average 30 year rate is now 4.69% down from 5.42% a year ago. Here are some additional factors to consider when the lure of a lower interest rate starts tempting you to call your … More Managing your mortgage the right way
This is good news for those that were unable to close by the June 30th deadline due to the tremendous backlog of loans with lenders. My advice to those not yet closed on their loans is do not get complacent now that the deadline is extended until September 30th. Stay on top of your lender … More Tax Credit Extension Bill goes to Obama to sign
