A reverse offer is simply where a seller instructs the realtor to pitch those buyers who have seen the home but failed to make on offer. More and more agents are suggesting to their sellers that they go back to those buyers and make the deal more attractive. In addition to price reductions, some are … More Reverse offers on the rise.
Under a preliminary assessment roll just released by the Bloomberg administration, Coop and Condo owners will pay sharply higher property taxes which are due to take affect in July of this year. Real estate taxes on condo units are expected to rise 9.6% and on coops,owners can expect to pay 7.5% more based on the … More Big Property Tax Increases on Horizon in NYC.
Until the recent downturn in the real estate market, homeownership has always been viewed as a large part of “the American Dream”. In this article by RIS Media, the many benefits of homeownership are discussed. It is stated that “homeownership has a significant positive impact on net worth, educational achievement, civic participation and overall quality … More Why Homeownership Matters.
For many who want to take advantage of lower home prices and historically low interest rates but are without sufficient funds to move forward with a purchase, consider checking into the Homefirst Program offered by NYC Housing Preservation and Development. Qualified individuals may receive up to $25,000 towards a downpayment and closing costs. Check out … More Getting Help With Your Downpayment.
If refinancing is not a possibility due to ever-toughening credit guidelines or you are self employed and are unable to qualify for the full income check mortgage, then it may make sense to look into the possibility of recasting your mortgage loan with your lender. In affect, you will be re-amortizing your loan by paying … More A Little Known Strategy for Cutting Mortgage Payments
The decision just handed down by the highest court in Massachusetts is the first in which the highest state court voided a Wells Fargo foreclosure proceeding due to the fact that the bank could not prove that they had the proper paperwork to foreclose. Like many mortgage loans over the past 5 years, the loan … More Court voids forecosures- slams banks for ‘utter carelessness’