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
Real Estate Law
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
Escrow cancellation considerations
Dear Clients and Friends, If and when you consider backing out of a real estate purchase agreement we suggest you consider the points set forth in this memo. Standard real estate contracts contain inspection and mortgage contingencies that allow buyers a limited amount of … [Read more...] about Escrow cancellation considerations
5 ways to avoid mortgage fraud on mortgage application
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 5 ways to avoid mortgage fraud on mortgage application
Buy or rent and our new Standard Deduction tax law
Dear Clients and Friends, Our new tax law doubles the standard deduction to $12,000 for an individual filer and to $24,000 for a married couple. (The IRS standard deduction is the portion of income that is not subject to tax, thereby lowering your overall tax burden. Taxpayers … [Read more...] about Buy or rent and our new Standard Deduction tax law
Wife doesn’t refinance home; husband forces her to sell
Dear Clients and Friends, It’s common for one spouse in a divorce to keep the couple’s home and assume the mortgage. Typically, the spouse keeping the home will refinance the mortgage in order to remove the other spouse’s name, so the other spouse isn’t jointly responsible … [Read more...] about Wife doesn’t refinance home; husband forces her to sell
