JEANNE REARDON - Attorney at Law
RSS

Delivered by FeedBurner


Recent Posts

Why You Need a Real Estate Lawyer When You Buy or Sell a House
Using a Power of Attorney for a New York Real Estate Closing
Application Deadline for Making Home Affordable Program (HAMP) Extended
Co-op and Condo Property Tax Abatements
Changes to Fannie Mae and Freddie Mac Short Sales Impact Investors

Categories

Closing Costs
Condos and Coops
Foreclosure
Home Buying and Selling
Homeowner's Insurance
Investors
Loan Modification
Making Home Affordable
Real Estate
Real Estate Closing Costs
Refinance
Short Sales
Title Insurance
Welcome
Zoning

Archives

May 2016
April 2014
February 2014
January 2014
January 2013
August 2012
June 2012
March 2012
January 2012
December 2011
November 2011
October 2011
September 2011
July 2011

powered by

Real Estate Law Blog

Why You Need a Real Estate Lawyer When You Buy or Sell a House

Law Office of Jeanne M. Reardon - Real Estate Lawyers
Whether you are buying or selling a home, your team of expert advisers should include a real estate closing attorney. Real estate closings  are complicated matters and require a thorough knowledge of the law.  With a decision as serious as buying and selling real estate, it is important that you are guided throughout every step of the closing process by an experienced and knowledgeable real estate lawyer.  The purchase of a home is often the single largest financial transaction you will ever make in your life.

Using a Power of Attorney for a New York Real Estate Closing

If you are unable to attend a real estate closing and sign the necessary documents you can have your attorney prepare a power of attorney for you thereby allowing your agent to act for you at the closing.  A power of attorney is a document in which a person appoints someone to act as their agent and perform certain acts on their behalf. The powers which may be given to your agent can be very broad, or limited depending on the purpose for giving the power of attorney.  For example, your can give your agent very broad powers to manage all your financial affairs, or limited powers to sign documents on your behalf at a real estate closing for a specific property only.

Application Deadline for Making Home Affordable Program (HAMP) Extended

The application deadline for the Making Home Affordable Program which includes HAMP Loan Modifications has been extended through December 31, 2015.

Read U.S. Department of the Treasury Press Release below:


Obama Administration Extends Application Deadline for the Making Home Affordable Program


  Extension through December 2015 Will Provide Struggling Homeowners Additional Time to
Access Sustainable Mortgage Relief and Align End Dates for Key Assistance Programs 

WASHINGTON –The U.

Co-op and Condo Property Tax Abatements

News About the Cooperative/Condominium Abatement
Recently, the NY State Legislature passed bill S2320/A3354, which amended the Co-op/Condo Abatement. For more information and a description of changes, click here.
    
Owners of cooperative units and condominiums who qualify for the Co-op/Condo Property Tax Abatement can have their property taxes reduced. The amount of the abatement is based on the average assessed value of the residential units in the building.

Changes to Fannie Mae and Freddie Mac Short Sales Impact Investors

On January 18, 2013, Fannie Mae and Freddie Mac announced changes to their servicing requirements for short sales. Please see below for some key changes that all parties involved in a short sale should be aware of. These changes apply
to all Fannie Mae and Freddie Mac short sales; with an offer and without an offer.


Title Transfer requirement change:

  • The buyer is prohibited from selling the property for any sales price for a period of 30 days from the date of the
     deed.

  • After a 30 day period, and until 90 days from the date of the deed the buyer is further prohibited from selling the property for a sales price greater than 120% of the short sale price.