A mortgage loan is likely one of the biggest debts you will take on in your life. It is surprising how many people sign the mortgage documents without fully understanding all of the terms of the loan and of expected repayment. As of 2015, the Consumer Financial Protection Bureau enacted a requirement for lenders to … Continue reading What is ‘Closing Disclosure’?
Deciding to buy a house can be one of the most important financial decisions of your life. However, too many people rush into a transaction without having all of the pertinent information, which can result in overspending. Having a mortgage payment that is too much can affect every aspect of your finances and can limit … Continue reading Three Important Questions You Should Ask Before Buying A Home
A buyer of a commercial property naturally wants to have all the relevant information about the property before they go through with the purchase. As a common part of the due diligence process, the current landlord will often request that any tenants sign a document called an estoppel letter. Often, a commercial lease agreement will … Continue reading What is an Estoppel Letter?
For the second year in a row, New Jersey had the highest rate of foreclosures in the United States last year. According to a report published at nj.com, New Jersey’s average foreclosure rate was 1.86 percent in 2016, while the national rate was .70 percent, a 10-year low. Fortunately for homeowners who have fallen behind … Continue reading Foreclosure Rates Rising in NJ, Can Bankruptcy Help?
For the past seven years, the Home Affordable Modification Program (HAMP) has provided a potential option for homeowners who are struggling to keep up with their mortgage to avoid foreclosure and remain in their homes. The program allowed homeowners to apply for a government-facilitated modification of their mortgage loan to make payment terms more affordable … Continue reading What the End of HAMP Means for You
Most people have heard of eminent domain powers, which give the government the authority to take private property under certain circumstances. If you have received notice that your property may be subject to an eminent domain action, you should speak with a knowledgeable condemnation attorney as soon as possible to familiarize yourself with the legal … Continue reading 3 Things You Should Know About Eminent Domain in NJ
When you purchase a home in New Jersey, you have to comply with the laws and regulations of the municipality in which the property lies. Local governments have an interest in ensuring that the homes that people occupy are safe and comply with local ordinances, and they often use the sale of a property as … Continue reading What Documents will I need to Purchase a Home in New Jersey?
Buying a house can be an exciting time. However, real estate transactions can be complex and it is important to be aware of certain information before you begin the process. Getting a pre-approval – Looking at homes outside of your financial ability can be fun but can be a waste of time if you are … Continue reading Top 5 Things You Should Know Before Buying a House
If you are looking into making a major property purchase or sale in New Jersey, there are several considerations that you will need to take into account before entering into this financial contract. It can be an overwhelming process at the best of times, and made worse when you don’t have all the information that … Continue reading 10 Things to Consider When Selling Property in NJ
When you want to transfer ownership rights in a piece of real property from one party to another, there are different legal instruments to use depending on the situation. There are also many requirements that may exist for a transfer–for example, in most cases, a purchaser wants to make sure that the title is clear. … Continue reading What is a Quit Claim Deed?
Businesses are expected to keep clear accounting records both for tax purposes and in the event a dispute arises regarding payments from clients or customers. Landlords are no exception, as landlords should always keep an organized, updated, and accurate ledger of all rent payments received from tenants. If a dispute occurs over rent that was … Continue reading Should You be Wary of Your Landlord’s Accounting Methods?
A property survey is a drawing of a piece of real estate that shows the property’s boundaries and any improvements that have been made to the property. It can bring to light certain issues that may affect the value of the property or the ability to resell at a later date. While many lenders require … Continue reading Why you Need a Property Survey before you Purchase Real Estate
Selling your home can be a big decision. Often, it means that you are moving on to bigger or better things, however, you cannot completely move on until you have sold your property. Selling a house is not always an easy process, though it can help significantly if you know what to expect. The following … Continue reading Top 9 Things to Think About When Selling a Home
Here’s What You can Expect Few things can be more stressful for a landlord or tenant than a dispute regarding the premises or the lease. A dispute can mean a landlord is not receiving important income and that a tenant may lose the roof over their head. If a landlord and tenant are unable to … Continue reading Going to Court for a Landlord-Tenant Dispute?
In October of 2015, new requirements put in place by the federal Consumer Financial Protection Bureau (CFPB) went into effect that dramatically changed the nature and timeline of many real estate closings. The CFPB maintained that previous mortgage disclosure forms were often inconsistent and misleading for potential mortgage applicants and, therefore, it enacted the TILA-RESPA … Continue reading TRID and What it Means for your Home Purchase