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Financing in Fort Greene : Real Estate Advice

  • All36
  • Local Info6
  • Home Buying11
  • Home Selling0
  • Market Conditions1

Activity 4
Tue Feb 12, 2013
Michael Richman answered:

In this market it is frequently taking much longer than usual to close loans because lenders are doing an exceptional amount of due dilligence. I have seen numerous cases of the last year or so take as long as 6 months. That is not to say every case takes that long. It varies from case to case, but everybody is taking longer that they used to.

Michael Richman
Licensed Real Estate Associate Broker
KIAN Realty
450 7th Avenue Suite 1501
New York, NY 10123
212-757-8268 x220
... more
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Mon Feb 11, 2013
Michael Denniston answered:
There are pros and cons with every financial decision, and mortgage are no exception. The key is choosing the financing option that's best for your specific circumstances. There are low fixed rate seconds available today subject to your credit profile, debt to income ratio, property type, amount of equity in your home and loan purpose (i.e, purchase or refinance). I hope my response was useful. For additional information or assistance, please contact me directly at 917.699.0183 or via email at Follow me on twitter @mdenniston247.

Michael Denniston
Senior Loan Officer
NMLS 24076
Cliffco Mortgage Bankers
New York
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1 vote 2 answers Share Flag
Mon Feb 11, 2013
Javier Meneses answered:
You want to make sure you're saving on a monthly basis and with the overall terms of the new loan. If you're currently in two mortgages, when you combine them, will you now pay a much lower rate compared to your current blended rate? Will you be subject to PMI? Etc...

You're next move should be to meet with a Loan Officer and go over your options. There's just too many other factors that come into play, it's best to meet with a professional and cover all necessary ground and go from there.

If you need someone, I'm always available to meet. Good luck!

Javier Meneses
NMLS #23130
Senior Loan Officer
Sterling National Bank
(516) 606-9648
... more
4 votes 2 answers Share Flag
Mon Feb 11, 2013
Jacques Ambron answered:
If you are having problems making your mortgage payments, you may want to discuss a modification on you mortgage to reduce the rates/payments.
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