Before buying a house, I told my mortgage broker that I only had so much $ to put down. I told him I needed a loan that wrapped as many closing costs into the loan as possible, as I wouldn't have thousands of extra dollars floating around the time...
The document is called a Good Faith Estimate. Did you read it carefully before you signed it?See question
We are looking at buying our first home. We have found most houses on line and are looking athe a few. We are trying to determine the need for an agent or an attorney. We don't anticipate any special need for anything out of the ordinary. ...
A real estate agent finds you a house. An attorney represents you and protects your interests. Say to yourself, at this point, do i need someone to find me a house or someone to represent me and protect my interests. After you answer that question, you should be able to easily decide who you need.See question
Will come up to surprise you when time to sell. And what is cost
Yes you can, except without a Policy of Title Insurance, the Title Company may not be contractually bound as to any mistakes or errors that may be contained therein. Only a Title Policy will contractually insure you as against any errors and/or omissions contained in the title search.See question
We are selling the home to a family member who has been living in the home for over seven years. Trying to keep expenses down.
Why would you have needed a realtor in any event when you are selling to a relative since I assume you put the deal together yourself.See question
He says he can.
Even if you and he own the property as tenants by the entirety he can borrow individually. Would a Lender be foolish enough to lend to him as against his potentially divestable interest? I strongly doubt it.See question
My name is listed first and hers is secondary on the mortgauge. How do we dissolve ownership of the mortgauge? We both wish to get out of the mortgauge. How do we do this? What is the process?
There is no first or second as to the mortgage. You are both jointly and severally liable for paying the mortgage. Why don't you sell the real estate and pay it off? That would be the simplest solution.See question
my husband and I are trying to buy a house. My father is helping us with the down payment, and we are getting half from taxes. The lender is now asking where my father has gotten his money, why is he giving us the money how we are obtain...
"Qualifying" you for the mortgage and "approving" you, in writing, for the mortgage are two remarkably different things.See question
I am not sure how detailed my divorce decree is,as it was a last minute deal that was written in the divorce the day the divorce was finalized.I really cannot afford to get a lawyer again to file a Quit Deed,but I need to take care of this since i...
A divorce decree/order sets forth rights and obligations of the parties to it. It is not, however, self-executing. Your ex-husband's failure to comply with its terms may compel you to have to make application to the court to compel his compliance possibly coupled with a prayer for sanctions as well as the appointment of a receiver to sign a deed on his behalf for failure to comply, if this is what the decree so calls for.
First you need to have your matrimonial counsel advise you in simplistic terms of your rights and obligations pursuant to the decree. This way you will gain a clearer understanding of your next moves. For all you know, he may not be obligated to do any such thing which is why you need a clear understanding of its terms.See question
“My husband and I are Tenants of the Entirety on our deed. In 2002 he wanted to get a Home Equity Loan. Both of us signed a CREDIT LINE MORTGAGE - only my husband signed the HOME EQUITY LINE OF CREDIT OPEN-END AGREEMENT (Note). He passed away in 2...
No, the Lender can foreclose since you joined in the mortgage.See question
I want to transfer the deed to my house to my moms name. We live in NY. About how long does it take?
By law, you do not need a lawyer to assist you in preparing and recording a Deed and the requisite ancillary documents, but more importantly, you need to know which documents need to be properly prepared, executed and acknowledged, you also need to know how to prepare the appropriate transfer tax returns and how to calculate the tax, if any, due thereon. You need to ensure that the appropriate parties thereon are all included, you need to ensure that the real estate is properly described in the Deed, you need to properly prepare the necessary cover pages and calculate the recording fees.
In fact, before attempting this you need to consider the potential gift tax consequences, the tax basis consequences, the estate planning ramifications, whether there are judgments/liens against the Grantor that continue as clouds against the real estate, you need to consider the potential acceleration of the mortgage if there is an effective due-on-sale clause, and you need to consider the effect on the Grantor's title insurance policy. The above list is only what came to mind, there could be more ramifications to consider. So how long does it take to effectuate the transfer? Firstly you have to ensure that the documents are all prepared and executed correctly.See question