If major changes in your life leave you struggling to pay your mortgage, you may decide to sell your home in a short sale. When your house is worth less than you owe on the mortgage, the bank may agree to take less as full payment. Convincing the bank to let you short sale your…
How to Convince the Bank to Agree to a Short Sale If you are like many homeowners on the brink of foreclosure, you may have come to the conclusion that a short sale is the best alternative. But if you are “underwater” on your home, you need the bank’s permission before you sell. That’s because…
Most people take out a mortgage when they buy a house. You probably have a 30 year mortgage, although some mortgages run for shorter term such as 15 years. When you make a mortgage payment, you are likely to be paying for other costs as well, like interest, taxes and insurance. If you have missed…
Selling your house in a short sale may not be the first idea that comes to mind when you can’t meet your mortgage payments. If you live on Long Island or the 5 boroughs and you owe the bank more than you can recoup by selling the house, you might mistakenly believe that you are…
Recent changes to New York City zoning laws will now permit many property owners in the five boroughs to profit greatly in developing neighborhoods. Under NYC Mayor Bill de Blasio, a huge rezoning plan is now in effect. The goal is to create affordable housing that accommodates people with moderate income and spurs economic development…
