Mortgage Financing

My co-op is raising the monthly maintenance fees, which are already high. What are the consequences?

Posted December 29 by Jonathan Miller, Leave a comment

Q: My co-op in Westchester County is raising again the monthly maintenance fee. As a holder of one of the biggest apartments in the co-op, my quota is going very soon to be equal to my monthly mortgage. What are the consequences of this? Read More.

I’m thinking of purchasing a home. What do I need to know about doing a title and lean search in order to protect myself as a buyer?

Posted December 26 by Jerry Feeney, Leave a comment

Q: I know that before you purchase a house, you should do a title and lien search to protect yourself as the buyer. What are the key factors to look for? What are some “red flags”? What parts of each search document are vital? What are the terms I need to know, their meaning, etc.? Please explain in simple detail… Thank you. Read More.

How much of an advantage does paying all cash play in purchasing an apartment?

Posted August 30 by Jonathan Miller, Leave a comment

Q: How much of an advantage does paying all cash play in purchasing an apartment? Read More.

I haven’t paid my mortgage in over a year and just received a foreclosure notice. What can I do?

Posted July 23 by Jerry Feeney, Leave a comment

Q: I haven’t paid my mortgage in over a year and they just put a foreclosure letter on my door! I have tried to talk to the mortgage company and they will not help me…they told me to just do what I am doing. What can I do to resolve this? Read More.

Is Elliman the biggest real estate company?

Posted June 1 by Team Elliman, Leave a comment

Q: Is Elliman the biggest real estate company? Read More.

Is the 20% down payment for a co-op negotiable or a solid requirement?

Posted May 11 by Dottie Herman, Leave a comment

Q: I’m looking for an apartment in Manhattan. I’ve pre-qualified for a mortgage, and have a steady income to afford what I’m looking for, but I’ve only been working for a few years and thus don’t have enough saved for a 20% down payment. When co-ops say that they require 20% down, is that generally a solid requirement or can it be negotiated? Read More.

What type of loan should I take out to do home improvements?

Posted May 7 by Jan Scheck, Leave a comment

Q: What type of loan (equity line of credit or loan) would be better to take out to pay off credit cards and do minor home improvements on an investment property? Total debt is $87,000 and have 2 credit scores over 710. Read More.

What will going into foreclosure to do my Fico score?

Posted April 25 by Tracy Becker (Credit Expert), Leave a comment

Q: I have a credit score in the high 700s and will be going into foreclosure on a home. Can you tell me what that will do to my Fico score? Read More.

I want to use my current home as an income-producing property, but am having trouble getting a loan. Can you help?

Posted April 20 by Jan Scheck, Leave a comment

Q: I own a three-family home in Holyoke, Massachusetts, and would like to use it as a rental/income property and purchase a home in a more rural area. Can you help me find a lender who doesn’t see in only black and white? I spoke with a lender who said that they would not consider the rents from all three apartments because it wasn’t on my taxes as such. I tried to explain that I am living in one apartment and my mother in another, so the two apartments weren’t rented out. I have all three apartments rented out–$700, $700, and $850 per month covers ALL the mortgage, taxes and insurance, and leaves me with $950 income at the end of the month. I am so frusterated and any help on such a lender or your professional suggestions would be … Read More.

We’re being told that there’s an accepted offer on a short-sale property that we love, but I don’t believe that this is accurate information. How do we proceed?

Posted March 29 by Dottie Herman, Leave a comment

Q: I found a short sale that we love, but the real estate office keeps telling us that there is an accepted offer on the property. If there was an accepted offer, then why would they drop the price on the property today? Is there any way around this real estate company? They aren’t being honest and I believe that someone in the office wants the property. Read More.