If you have purchased a home, you likely obtained a home loan through a lender in order to fund the purchase. While you may think that this means you will pay the lender for the life of your loan, this is oftentimes not the case. The servicing of many loans is dealt with by a loan servicer, who i...
No matter the circumstances, there may come a time where you need additional funds to pay for whatever life throws your way. Whether you need to pay for repairs to your home or want a safety net to cover unanticipated expenses that may occur down the road, a home equity line of credit may provide...
If you are in the process of obtaining a home loan to purchase a new home, your monthly mortgage payment will likely have a great deal of influence on the home that you choose--if you can't comfortably pay the mortgage payment, then you likely won't choose to purchase the home. It's important to ...
Homeowner's insurance is a concept that is familiar to almost everyone who owns their home--most homes are covered by such insurance. The vast majority of the time, homeowners choose their own insurance carrier and policy, even if their insurance payment is escrowed in a mortgage. Sometimes, howe...
If you own a home or condominium in the state of New York, you may be part of a homeowner's association (HOA) or condominium association (COA). If this is the case, you are likely subject to assessments for your membership in these associations. These fees should not be taken lightly; failure to ...
The process of purchasing a home can be both exciting and stressful, even if everything goes smoothly. When there is a hiccup in the closing process, however, delays can occur which can extend the time you have to wait to close. It's important to keep a watch out for the most common reasons for c...
The home-buying process is a nerve-wracking experience, and obtaining a loan to purchase your home isn't much easier. Multiple times of loans exist in the world of home lending, and it's important to choose the type of loan that is right for you. In some cases, an adjustable rate mortgage (ARM) m...
If you are in the process of shopping for a home in New York, your purchase may hinge on your ability to obtain a mortgage. While virtually anything can cause a loan to go south, several pitfalls occur more frequently than others in the underwriting process which can be detrimental to your abilit...
Most residents in New York state--and especially in New York City--lease or rent property due to the astronomical costs of purchasing a residence and the high demand for a place to live. Unfortunately, this can mean dealing with a difficult landlord. If you are dealing with the wrath of a rogue l...
When you enter into a mortgage to purchase your home, you enter into a contract that can last for decades. This does not necessarily mean that you have to stick with the same home loan until your home is paid off, however; if you are unhappy with certain aspects of your mortgage, refinancing your...
While purchasing a home is an exciting time in one's life, the process can also be extremely stressful. Contracts must be executed, the title must be checked, loan documents must be signed, and proceeds have to be delivered to the right people. Although a lawyer's assistance in a real estate clos...
A real estate agent can be an invaluable asset in the real estate process, whether you are buying a home or selling one. You and your agent will likely spend a lot of time with each other during this process, and your sale or purchase can hinge on your agent's ability to perform well. It can make...
Being approved for a home loan can often be the deciding factor on whether you are able to purchase a home. If you are in the market for a home, there are several actions which are critical in the mortgage application process, as well as several things which you should refrain from doing to give ...
If you are a joint owner of a parcel of property in New York, you may find yourself at odds with the other owner or owners of the property. One owner may wish to live in or on the property, while other owners may wish to sell the property and split the proceeds of the sale. What does one do when ...
The New York City council recently implemented new Local Law #196, a requirement that all construction workers and supervisors complete a minimum of 40 hours of occupational safety training. The program, created in response to a wave of recent worksite injuries and fatalities, will be executed in...
A landlord's dream is to find a tenant who will keep the rental property in good condition, pay rent on time, and not create any disturbances for other neighbors. Good renters can be hard to find, though, so it is important to conduct a thorough screening process for any potential tenant to whom ...
Rent control is a program that places limits on the amount of rent that the owner may charge and imposes restrictions on the process of eviction. The program is only applicable to units built prior to 1947 in certain New York localities and is not to be confused with rent-stabilized apartments—a ...
Oftentimes, people imagine the real estate closing process as an hour-long meeting filled with seemingly endless paperwork to be signed. The signing process is only a step in the real estate closing process. Equally as important to a real estate closing is the title examination, which is meant to...
Leases are contracts between landlords and tenants for the rental of property. Provisions within these agreements explain the rights and responsibilities of the parties. Laws established by local, state, and federal governments apply to tenant-landlord relationships. Tenants are expected to fulfi...
New York has a unique way of conducting tenant screening for housing. New Yorks Office of Court Administration releases housing court information to tenant screening businesses. Landlords utilize this data to decide whether to rent to applicants who have consented to a background check. Those wi...
In April 2018, the collective bargaining agreement between the owners of New York apartment buildings and roughly 31,000 building service workers will expire. These contracts are negotiated every four years between the Realty Advisory Board on Labor Relations (which represents the real estate own...
Roughly 35% of the U.S. population resides in rental housing while in New York this figure is approximately 24%. New York City is among the most costly cities to purchase or lease residential property with the median rent price of $1,830 for unregulated units in 2016. The city has managed laws re...
Reasonably priced apartments are not easy to find in New York City, a factor contributing to the citys ranking as 2nd in terms of the cost of living. Since 1991, New York City has added 488,478 units of housing and 1.1 million jobs. New units for ownership have grown much more rapidly than renta...
Under current law in New York City, it is illegal to rent apartments for less than periods of 30 days in multi-unit buildings. Airbnb, the increasingly popular vacation rental platform, is accused of causing a surge in rental prices and limiting unit availability. The Hotel Trades Council and Mc...
The title insurance industry is a small segment in the real estate realm that is accused of spending excessively to obtain referral business. The NY Times explained how clients are routinely taken to sporting events, country clubs, lavish steakhouses and even clubs offering adult entertainment. W...
"We understand that a real estate transaction is typically one of the largest financial transactions of most peoples lives. That is why we take the time to properly guide you and keep you informed about the process every step of the way."
