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Vincent J. Gallo

Vincent Gallo’s Answers

840 total


  • If my husband got the loan but I am contributing by paying the down payment, how can I be recognized as a co-owner?

    My husband just got approved for a loan for the purchase of our first home. Since he is the breadwinner and I am a full-time student with no income, I was not considered in the loan application nor am I on the loan approval. So I am wondering how...

    Vincent’s Answer

    Advise your husband and the lender that you want to be added to the deed as a co-owner at the closing as a condition of your agreeing to providing towards the closing. The seller, the seller's attorney, your husband's title agency and your husband's attorney should be made fully aware of your demand as well.

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  • I want to know if my husband took a home equity loan on my house.

    the house is under my name only. with no mortgage. I want to know if my husband can apply for home equity line credit. because he already filed once before without my knowledge, Is there any way to check that online or visit a specialist...

    Vincent’s Answer

    Since you recited your location as New York, NY, if you are in any of the four (4) Boroughs other than Staten Island, Google ACRIS, type in your Block and Lot and you can access all images of recorded documents. Can he apply for a line of credit? Sure he can. Can he legally encumber real estate in New York that is in your name only? No.

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  • Do I need my own attorney to do the paperwork for the closing for my house?

    I am doing a lease to own and the owner said I could do everything through his attorney. I was wondering if I should obtain my own attorney.

    Vincent’s Answer

    The fact that you posed the question gives you the answer.

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  • Do I need a real estate attorney involved in the sale of my house post divorce ?

    Can I legally sell the house I have been living in post divorce if said house is in ex husbands name? The court judgment ruled house to be mine, as stated in a MSA, ( marriage settlement agreement) with a dollar amount owed to him. I would nee...

    Vincent’s Answer

    At least in New York, an Order/Judgment that entitles you the house only "entitles" you to the house, it does not cause title to the house to be vested in you so as to allow for you show ownership. To "round the bases" , if you get no co-operation in gaining actual title to the house you will have to endeavour to enforce the Order/Judgment, under the cloud of sanctions for your ex-husband's failure to co-operate in conveying his interest in the house to you.

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  • How can I find out how much is owed on our Mortgage?

    My partner and I live together in a home that is in her name with the Mtg company, but we are both on the warranty deed. Our relationship is very rocky at times and I'm worried about my future. She is very private about her finances and what is ...

    Vincent’s Answer

    Since you are not a signatory on the Note, from what you stated, the Lender will most likely not communicate with you directly as to the debt. Are you paying the Mortgage debt jointly with her? If so, then did you try asking her for a copy of the latest statement that will likely show the balance?

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  • I was appointed a home inspector. Is this legal in NJ?

    I am purchasing a home and the Realtor assigned me an home inspector.

    Vincent’s Answer

    Then seriously consider selecting an inspector of your own choosing.

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  • Penalty for paying off a mortgage early?

    If I were to pay off a $100,000 30-year mortgage early, the bank would obviously be losing tons of interest they expected to make over those 30 years. What is the rule? Is there a penalty equal to all that interest (another $75,000)? Or is it s...

    Vincent’s Answer

    The Mortgage Note that you executed would govern your obligations, so read it carefully as to its terms.

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  • Why do I need a real estate attorney to buy a house?

    My understanding is that the contracts are pretty much form contracts and that the seller's attorney is responsible for ensuring good title (and his malpractice insurance covers any problems with the title he fails to uncover.). So then why does ...

    Vincent’s Answer

    You are not legally required to have an attorney represent you in connection with a real estate purchase transaction. Provided however that you are confident that you possess the acumen necessary to fully understand what you are getting yourself into, at your own risk and peril, noting that a seller's attorney has no obligation to you whatsoever.

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  • Can I file a quit claim deed

    A very good friend allowed me to movin to his home on May 29th 2011 and passed away in Feb 2013. I am paying the tax's . The Appraisers office says he's 100% owner. Can I file a quit claim deed.

    Vincent’s Answer

    You can file it; it won't have any effect on the property, but you can file it.

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  • Escrow- I have paid 10 k into escrow . I am now considering backing out of the contract .

    Our loan has not been approved within the 30 day period as stipulated in our contract . Does that give me am out and will I get my escrow back ? Could I be liable for damages beyond the escrow ? Closing is in2 weeks time.

    Vincent’s Answer

    What do the terms of your contract provide?

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