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Do You Want to Modify Your New York Mortgage Loan?

Posted by Melvin Monachan | Aug 16, 2019 | 0 Comments

Purchasing a home can be one of the biggest purchases you make in a lifetime. For most people, they take out a mortgage loan to pay for the purchase, and then they pay back the mortgage loan according to the terms and conditions set out in the contract.  Sometimes, however, a change may be neede...

The Real Reason Why Landlords File for Eviction

Posted by Melvin Monachan | Jul 30, 2019 | 0 Comments

The threat of eviction is one of the most stress-inducing events to ever happen to a renter. Perhaps you've experienced it firsthand or you know someone who has. Regardless, knowing that you'll be kicked out of the place you now call within the next few days or weeks is nothing short of horrifyin...

Why It Matters: Rent Reform

Posted by Melvin Monachan | Jul 02, 2019 | 0 Comments

It's no secret that there's an affordable housing crisis plaguing New York City. But since Mayor Bill de Blasio took office, he's ignited a small light at the end of the tunnel. His short-term solution to this incredibly convoluted issue has been to build an unprecedented quantity of affordable a...

Why You Should Survey Your New York Property

Posted by Melvin Monachan | Jun 28, 2019 | 0 Comments

There is a lot of research that goes into buying and owning a property. Part of securing a financial investment wisely is gathering as much information as possible about your property. A necessary step of obtaining this information is conducting a property survey. The benefits of a survey are pl...

Condo Associations and Eviction

Posted by Melvin Monachan | Jun 19, 2019 | 0 Comments

A condominium is a private property within a larger building or community. Condos have recently drawn a lot of buzz in the New York market due to the fact that buyers get the best of both worlds: all the convenience of an apartment with the additional perks that come with being a property owner. ...

Closing Costs Increasing in New York

Posted by Melvin Monachan | May 21, 2019 | 0 Comments

New Yorkers may soon be paying more in closing costs. The amount of taxes paid in a residential real estate sale is increasing as of July 1, 2019. New York lawmakers have approved a new state budget that expands the mansion tax and increases the state transfer tax. These changes are expected to g...

Common Real Estate Contract Contingencies Explained

Posted by Melvin Monachan | May 17, 2019 | 0 Comments

A contingency is an addendum to a real estate contract. A contingency acts as a legal safeguard, allowing a party to back out of a real estate purchase or sale if the terms of the contingency are not met. In these situations, the real estate contract is considered legally void. When a contingency...

Protect Yourself Against Down Payment Wire Fraud

Posted by Melvin Monachan | May 13, 2019 | 0 Comments

A prospective home buyer in Massachusetts recently became the victim of a wire transfer scam, causing him to lose his $300,000 down payment for a condo. The man followed the wiring instructions that he received in an email, only to discover at the closing that a wire fraud scammer had stolen his ...

Actress and Filmmaker Sued by Landlord Over Loft Law

Posted by Melvin Monachan | May 07, 2019 | 0 Comments

According to reports, actress Emily Ratajkowski and her filmmaker husband, Sebastian Bear-McClard, have been sued by their New York City landlord for $120,000 in unpaid rent. The landlord's lawsuit claims that the couple has exploited New York's Loft Law allowing them to live rent-free in the 1,1...

Can A Landlord Evict a Tenant for Having a Pet?

Posted by Melvin Monachan | Apr 30, 2019 | 0 Comments

Many landlord-tenant disputes arise when a tenant keeps a pet in a pet-free rental property. In some cases, a landlord may have the legal right to evict a tenant for having an animal in violation of the no-pets term of a lease. In other situations, a tenant may be allowed to keep a pet under the ...

Fighting Off Foreclosure

Posted by Melvin Monachan | Apr 23, 2019 | 0 Comments

​If you've fallen on hard times and are behind on your mortgage payments, don't panic just yet. There are several options you can choose from before being facing foreclosure. Here are some common alternatives. Consider modifying your mortgage Most mortgage companies give you the option of mortg...

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