To follow up on other stories in this blog, Short Sales gets very complicated and uncertain if there is more than one lender involved. Be sure that you are negotiating with the primary lender because junior lenders often absorb most of the loss, but you will need their approval too.…
So, your attorney has indicated that the Seller of a parcel of real property has an “old survey” and that you could get around the cost of a new survey with a survey inspection. What’s the difference? Survey: A licensed professional surveyor investigates the deed transfers into the owners of…
According to a recent article in the NYTimes, Americans thinking about a “reverse” mortgage have more clarity, and possibly, more access to the remaining equity in their homes in New York. Reverse mortgages allow borrowers who are 62 or older to tap into their homes’ equity without having to repay…
To all prospective client and attorney relationships–note to self– get the fee agreement in writing, because the terms can come back from the grave to bite you. In New York State there is a rule of evidence known as CPLR § 4519 (the “Dead Man’s Statute”), which is designed to…
With all the negative press that the real estate market has been suffering lately, you are ready to look for homes in Dutchess, Rockland, Westchester, Putnam or Ulster County. You have that money burning the proverbial hole in your pocket seeking to purchase a foreclosed home for investment. Do you…
Are you buying a house in New York, but forgetting to calculate your full monthly nut? Mortgage payments are not the only bite out of the monthly payments that New York Homeowners and buyers make every month. Aside from the principle and interest payments, mortgage holders must pay real estate…
Eastchester, New York, homeonwers are at the end of their proverbial rope. When the Town of Eastchester failed to address the flooding and sewer backups in their Westchester County home, they took the only possible next step– they filed suit. Here’s the link to the article. We cannot comment on…
New York State has recently enacted a new section (27-2405) of the Environmental Control Law which shall now require Landlords and Owners to Notify Tenants of “Indoor Air Contamination.” Effective December 2008, property owners and landlords will be required to to disclose the results of environmental testing to tenants (both…
I have to comment on this scam because many lawyers are getting slammed, and I routinely get solicited from my private web-site for this type of scam: Someone representing an Asian company goes onto my web-site and tells me they need to collect a six figure judgment against “suppliers” in…
Upstate towns are jumping on the conservation band wagon. The most recent is the Town Board of the Town of North East in Dutchess County. New York State has authorized the Town Board of the Town of Northeast in Dutchess County to establish a Community Preservation Fund by referendum. The…