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Ilja Bitkov's Blog

By Ilja Bitkov, e-Pro | Agent in Fort Lee, NJ
  • Hurricane Irene could cause home refinancing, purchasing issues

    Posted Under: Home Buying in Fort Lee, Home Selling in Fort Lee, Financing in Fort Lee  |  September 3, 2011 7:53 AM  |  1,110 views  |  No comments
    Hurricane Irene could cause home refinancing, purchasing issues.

    This is what we now starting to get from the banks:

    "Due to the recent devastation left in the wake of Hurricane Irene, Fema has declared the county in which you are purchasing in a “Disaster Area”. We are required by law to have an inspector revisit the property in which you are purchasing to assess any damage and issue a Disaster Area Inspection Report."
    FEMA - Federal Emergency Management Agency - http://www.fema.gov/
    In Bergen County, I currently have three deals out of five in progress affected ...
    Certainly this brings some worries and takes another $150-200 from borrower's pocket ... at the same time it gives protection not only to the bank, but also for the purchasers.
  • Hurricane Irene could cause home refinancing, purchasing issues

    Posted Under: Home Buying in Fort Lee, Home Selling in Fort Lee, Financing in Fort Lee  |  September 3, 2011 7:53 AM  |  1,052 views  |  1 comment
    Hurricane Irene could cause home refinancing, purchasing issues.

    This is what we now starting to get from the banks:

    "Due to the recent devastation left in the wake of Hurricane Irene, Fema has declared the county in which you are purchasing in a “Disaster Area”. We are required by law to have an inspector revisit the property in which you are purchasing to assess any damage and issue a Disaster Area Inspection Report."
    FEMA - Federal Emergency Management Agency - http://www.fema.gov/
    In Bergen County, I currently have three deals out of five in progress affected ...
    Certainly this brings some worries and takes another $150-200 from borrower's pocket ... at the same time it gives protection not only to the bank, but also for the purchasers.
 
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