Closings should be transparent to you, as the buyer or seller. We make sure that you are updated throughout the closing process. Better to give you too much information that to have a "surprise" at the end. Real estate surprises are typically not good. if you have...
I recently met with a client interested in purchasing an investment condominium. At a list price of $295,000.00 and rent of $1,900.00 per month, even with twenty percent down, the excepted was a negative $7,000.00 per year. We did not even factor in any money for...
Our office assists private and institutional lenders foreclose defaulted mortgages. We are often asked how long it will take to complete a foreclosure. A good estimate is six months. There are automatic "holds" placed on progress by the Florida Rules of Civil...
Is it better to buy a new home built for you, or an existing house? I have done it both ways, and I found buying an existing house a far better choice for me. You may like reviewing floor plans, wall colors, kitchen handles, and elevations, but this is not my cup of...
Are "reverse mortgages" a good idea? We have a client who has very little income, but a lot of equity in his house. If he took out a reverse mortgage, he would never have to "pay back" the money borrowed. However, he would still have to pay annual taxes, insurance,...
We are seeing a modest increase in mortgage delinquencies in our practice, consistent with nationwide trends. This is particularly true with variable rate home equity loans given the increase in interest rates these last few years. If the increase in interest rates,...
Unfortunately, we are seeing more real estate divorce cases than ever before as non-married couples buy a home together, then split up. If they were married, this would be part of a divorce settlement. These are called "partition" actions. A partition action is a...
Virtually all residential promissory notes (and the majority of commercial promissory notes) permit prepayment, in whole or in part, without a prepayment penalty. If you make a principal prepayment, your regular monthly payment does not decrease, but the prepayments...
Please save copies of your closing documents related to a sale or purchase. There may be subsequent title or survey issues that arise years later, and we find out that the closing agent is out of business. The copies you saved can be very helpful and time saving. ...
Because of delays in processing even cashier's checks, and fraud, all closing agents require the buyer's closing funds be sent via a wire to the closing agent's disbursing account. There are scammers who intercept the wiring instructions and send an e mail to the...