Many clients consider setting up a Revocable Family Trust and complete a deed transfer of their home to the Trust for estate planning purposes. When your home is a Co-op, their are some additional considerations since the Board must approve any transfer of ownership. This recent article from The Cooperator suggests why many Boards should … More Can I transfer my Co-op to a Family Trust?
A survey will show the boundaries of your property, and whether there are any encroachments — such as a fence that is on the other side of your property (or inside, for that matter). It should also indicate whether there are any easements of which you should be aware. Typically, utilities and cable companies may … More Why do I need a survey when buying a house?
According to this recent article from Bankrate.com we can expect things to get a little easier for those trying to get a mortgage. Getting a mortgage these days is obviously not as easy as it was during the housing boom, when pretty much anyone could get a loan. But after years of tightening, it seems … More Lending Standards Loosen Up.
It is about time that the FHA took steps to lower their premiums for buyers who seek their low down payment loans. This Bankrate.com article explains what is in store for borrowers in the near future. Fees for the first 5 years on $200,000 FHA loan Without HAWK counseling With HAWK counseling Upfront premium $3,500 … More Coming Soon to a lender near you….The FHA “HAWK” Program.