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Foreclosures and COVID

Posted by Melvin Monachan | Nov 16, 2020 | 0 Comments

The economic downturn from the coronavirus pandemic has forced many home and business owners into foreclosure. The federal government has instituted emergency mortgage relief measures, however. How can you use these regulations to avoid foreclosure during the era of COVID-19, and what lessons can...

Don’t Make These Common Foreclosure Mistakes

Posted by Melvin Monachan | Nov 01, 2020 | 0 Comments

Going through a foreclosure is stressful, embarrassing, and scary. It's understandable if you'd like to just hide somewhere until it's all over. Unfortunately, that's not something you can – or at least, that you should – do. Here are three mistakes people often make when they're facing foreclos...

Zoomschooling & Foreclosure

Posted by Melvin Monachan | Oct 26, 2020 | 0 Comments

Last March, Governor Cuomo declared a disaster emergency for New York State, and shortly thereafter, Zoom became America's choice platform for distance learning and remote meetings. Now, as the coronavirus continues to have us reorganizing our lives to meet new challenges, two of the biggest con...

The Harm of Debt-Related Stress: How to Regain Control

Posted by Melvin Monachan | Oct 12, 2020 | 0 Comments

Debt often provides the freedom to achieve specific life goals, like going to college or buying a home. But when your financial obligations seem mountainous, and you're struggling to keep up with payments, it can feel like a 1,000-pound weight bearing down on you. And that's not good for your hea...

Options for Large Loans

Posted by Melvin Monachan | Oct 09, 2020 | 0 Comments

Are you unable to pay off a large loan? You're not alone. Unfortunately, many people can't pay off loans thanks to unexpected issues like job loss, medical bills, divorce, and more. If you're late on payments, it's not too late to take action. Here's what you need to know if you're delinquent on ...

Can I Get a Second Loan Modification?

Posted by Melvin Monachan | Oct 01, 2020 | 0 Comments

After suffering a financial hardship, you obtained a loan modification from your lender that lowered your interest rate and reduced your monthly payment amount. But now, the troubled economy has put you right back where you were before–falling behind on your loan payments and fearful of defaultin...

NYC Housing Court Starts Processing Eviction Requests

Posted by Melvin Monachan | May 28, 2020 | 0 Comments

Governor Cuomo may have suspended evictions in New York, but that doesn't mean everyone can breathe a sigh of relief for now. While he originally declared a moratorium on evictions for 90 days in March—and then extended that until August 20—the NYC Housing Court recently started operating again. ...

NYC Rental Prices May Drop Due to Coronavirus

Posted by Melvin Monachan | May 26, 2020 | 0 Comments

If you're looking for a home to rent in New York City any time soon—or if you're about to renew your lease—you might be surprised by the lower prices and better incentives offered by landlords. According to real estate experts, many landlords are having trouble getting new leases signed lately du...

New York City Rent Strike Begins

Posted by Melvin Monachan | May 12, 2020 | 0 Comments

In April, several tenants and tenants' rights groups in NYC were considering a rent strike if they didn't get more help with their housing costs. That strike has moved forward, with thousands of NYC tenants refusing to pay their rent in May. This is the largest rent strike the city has seen in de...

Real Estate Closing Dates in New York

Posted by Melvin Monachan | May 11, 2020 | 0 Comments

If you have never owned property before and are currently in the market to buy a home in New York, it may come as a surprise to learn that you are required to use a real estate attorney in your transaction. New York is one of the few states that requires an attorney to represent the buyer as well...

NYC Foreclosure Rates Doubled

Posted by Melvin Monachan | May 07, 2020 | 0 Comments

It is hard to believe that the 2008-2009 financial crisis is now eleven years behind us. But whether the crisis really truly abated for everyone is up for debate. According to a real estate analysis by PropertyShark, foreclosures more than doubled in New York City since 2014. In 2019, there were...

How To Screen Potential Tenants in New York

Posted by Melvin Monachan | May 04, 2020 | 0 Comments

As a New York landlord, you are probably aware of the most recent changes made to tenant laws. You probably also know that screening a potential tenant is one of the most powerful tools you have to ensure a successful agreement that lasts for a long time. But there are some things you should—and ...

Coronavirus Crashes NYC Luxury Housing Market

Posted by Melvin Monachan | May 01, 2020 | 0 Comments

Coronavirus has negatively affected the real estate market as a whole, but some cities have been hit harder than others—with New York City being one of them. In particular, the luxury housing market here has suffered quite a bit. So if you're eyeing high-end property in NYC, here's what you need ...

What to Know Before Buying an NYC Home This Spring

Posted by Melvin Monachan | Apr 28, 2020 | 0 Comments

As the weather begins to warm up, so does the New York City housing market. After all, most people want to be settled in their new home before fall, which means they need to start searching for a home before summer. But as you probably figured, things are a bit different this year, thanks to COVI...

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