Dear Clients and Friends, Starting in October 2019, some home sales under $400,000 no longer require an appraisal. Previously, appraisals were not required on home sales of $250,000 and below. But federal regulators just approved a rule that will raise the threshold for the … [Read more...] about Appraisals no longer on certain home sales
Real Estate Law
Avoid problems with your mortgage application: Tips for applicants
Dear Clients and Friends, There are all sorts of stories out there about predatory lenders being sued for fraud against homebuyers. On the other side of the coin, however, a study by CoreLogic found that fraud by mortgage applicants is also rising. According to the study, … [Read more...] about Avoid problems with your mortgage application: Tips for applicants
FHA reduces cash-out refinancing limits
Dear Clients and Friends, The Trump administration is limiting the amount of cash borrowers can withdraw from their homes under the Federal Housing Administration (FHA) financing program. As of September, the FHA now limits cash-out refinancing to 80 percent of the home … [Read more...] about FHA reduces cash-out refinancing limits
Challenging a quitclaim deed
Dear Clients and Friends, The next-door neighbors convinced your aunt to sign over the deed to her house. Your stepfather’s long-lost son came to visit and walked away with a quitclaim deed to the family cottage. What do you do when you suspect someone did something “fishy” to … [Read more...] about Challenging a quitclaim deed
Should you choose a reverse mortgage? Pluses and minuses
Dear Clients and Friends, For seniors, deciding whether to enter into a reverse mortgage can be complicated. Here are some pros and cons to consider: The pros • A reverse mortgage allows you to maintain the title to your home while receiving income from your equity. • … [Read more...] about Should you choose a reverse mortgage? Pluses and minuses
Selling a property “as is” still requires an honest seller
Dear Clients and Friends, A buyer who discovered that her new house was contaminated with mold can sue the seller, even though the house was purchased “as is” and the seller specifically said there might be mold in it, according to the Wisconsin Court of Appeals. Catherine … [Read more...] about Selling a property “as is” still requires an honest seller
