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Thank you for doing such a great job representing my son on the purchase of his condo. As I am sure you could tell, he was very nervous about the whole thing, been waiting for the other shoe to...

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I feel blessed that somehow your firm in and my life crossed because the result is the quality of my mother’s life in respect to current and future needs is secure …

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Me sentir bien comoda con mi dos abogados, el Sr. Martin y el Sr. Futterman, que me trataron mi caso con mucha delicadeza y puecieron mucho tiempo en mi case

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Real Estate Archives

3 reasons for mortgage modification denials

Financial challenges affect many Americans, whether from a sudden change in circumstances or a gradual descent into debt. In fact, they are so common that, according to Forbes, one in four people in the U.S. deal with symptoms resembling PTSD as a result. If you are in this group, you may be looking into options to mitigate the burden of your financial responsibilities. Mortgages are one of the biggest expenses for many people, so a modification may seem ideal.

Other costs associated with buying a house

Buying a home is one of the single-most effective methods of building wealth over time, but it does not always come cheap. The price you ultimately pay for your home often far exceeds the asking price, and while some reasons why are obvious - such as the fact that you must pay interest on your loan - there are other fees involved that are less well-known. Some of these may include:

Some things to keep in mind when buying a home

Purchasing a home is a huge step in anyone's life, and while it is extremely exciting, it can also be very stressful due to the various legal implications associated with owning property. There are several things one must keep in mind during the process of looking for and purchasing a home.

NYS STAR Tax Credit

After you close on your new home you should apply for the NYS STAR tax credit with the New York State Tax Department. To be eligible to receive this Basic STAR credit, the home must be your primary residence and the total annual income of you and your spouse combined cannot exceed $500,000.00. New applicants will receive a check directly from New York State. (Previously owners received a school property tax exemption.) To apply, download an application at www.tax.ny.gov/star or call the STAR exemption office at (212) 639-7675.

Three types of New York flip taxes and how they impact buyers

Finding that right apartment, condominium or co-op unit in New York can be akin to searching for the Holy Grail. Once you find the property that meets your requirements for location, layout and price you may need a moment of silence to celebrate.

Information on 1031 tax deferred exchanges

Internal Revenue Code Section 1031 allows owners of real estate investment property to sell their property and purchase new property with the proceeds of the sale while deferring the taxes which would ordinarily be due as a result of the capital gain realized on the sale. This is commonly known as a "1031 Tax Deferred Exchange", or a "Like-Kind Exchange". There are very specific rules which must be strictly adhered to for this vehicle to be successfully employed. However, if properly handled, the 1031 exchange can allow investors to legally defer the payment of capital gains taxes which would ordinarily be due on the profits realized from the sale.

The Emergency Homeowner's Loan Program (EHLP)

There is a new federal program administered by the U.S. Department of Housing and Urban Development recently launched to assist homeowners unable to make their monthly mortgage payments. However, any homeowner interested in applying to this program must submit their application no later than July 22, 2011. Therefore, time is of the essence and it is crucial to quickly review the eligibility requirements, and if you qualify for this program, apply immediately.

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