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  • It’s Official: New Conventional Guidelines for Ordering Appraisals (8)
    • Kary L. Krismer: Yes, I’m aware of that. When Cuomo made the allegations I was surprised that it was WAMU he was going after, because it was always some mortgage...
    • Rhonda Porter: Kary, this was caused by Cuomo investigating WaMU for strong-arming appraisers to meet certain values and then blacklisting them if they did not. This...
    • Kary L. Krismer: What it’s designed to do is stop the practice of a mortgage broker calling up two appraisers, asking them for initial values prior to selecting...
    • Rhonda Porter: For the next few days or weeks (depending on who I working with as the ultimate lender) I can still select the appraiser whom I’ve worked with for...
  • Government Intervention in Foreclosure (42)
    • Kary L. Krismer: Jillayne emailed me the letter that was the result of that representation at the meeting. That’s what I was working off of.
    • Rhonda Porter: Kary, re. 37: I believe DOR has stated at a recent Escrow Assoc. meeting that excise tax is due on the loan amount when dealing with a short...
    • Rhonda Porter: I couldn’t agree with Gene’s comment more: “This is NOT a case where there was a natural disaster. This is mostly a case of a rampant...
    • Kary L. Krismer: I’ve been thinking about this excise tax thing further, from a theoretical point of view, rather than just looking at the language of statutes...
  • Mother Nature Happens… (4)
    • Kary L. Krismer: Which again is another reason to have a clause providing for an automatic extension if the transaction doesn’t close due to a reason not the...
    • Rhonda Porter: Last night watching the news, it reminded me of the earthquake we had a few years back during a busy time in the market. It didn’t matter if...

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Tag: roof

A deeper look into town home joint maintenance agreements…

In a previous post I wrote about concerns for townhomes that were sold over the past several years that didn’t have clear joint maintenance agreements. A recent deal I closed brought into focus exactly why my concerns are realistic and valid. Buyers need to be aware that it is their responsibility to read all the [...]

Got renter’s or condo unit insurance?

I’m constantly amazed at how many people don’t get renter’s insurance when they are renting a house or apartment. Did you realize that if a major catastrophe happens to the property you’re renting that the landlord is not responsible for your belongings?  You should.
Renter’s insurance is relatively inexpensive for the peace of mind that it [...]

No Credits “For Repairs” Allowed

This excerpt from a recent comment to an old article of mine, deserves more than “comment back” attention.
“we said we would take $5,000 for…repairs…The addendum was signed by both seller and buyer….Our lender wanted us to take the word repairs out of the contact, but we wouldn’t do it, so our loan fell through…’
Lenders do [...]

The ROOF - Things you should know

Whether you are buying or selling real estate, or just trying to decide about your own roof replacement, there are a few things you should know about a roof. As I look out of my window, 95% of the neighbors have a composite shingle roof. So let’s talk about those.
When you are buying [...]