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Tag Archives: mortgage
Understanding Closing Costs- What is Mortgage Recording Tax?
By kalantarovlaw | Real Estate | 0 Comments
What is Mortgage Recording Tax? When you buy a home you will notice a number of fees and taxes that are charged to you or the other party at closing. Quite often buyers and sellers know little about what they are paying for and why. We have already discussed one of these charges, Transfer Taxes, […]
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FAQ: May I Transfer Property That Has an Existing Mortgage?
By kalantarovlaw | Real Estate | 0 Comments
FAQ: May I transfer property that has an existing mortgage? In a real estate closing involving financing, among the various documents being signed, the purchaser/borrower signs two important bank documents, namely, the mortgage and a promissory note. The mortgage is a document that grants the bank a security interest in your home in lieu of […]
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The Benefits of Making a Larger Down Payment When Purchasing a Home
By kalantarovlaw | Real Estate | 0 Comments
The Benefits of Making a Larger Down Payment when Purchasing a Home Generally, when purchasing a home in NY, buyers provide the seller’s attorney ten percent (10%) of the contract price as a deposit on the home to be held in escrow until closing. The buyer will finance eighty percent (80%) of the contract price […]
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