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- Certified Specialist, Real Estate Law, The State Board of Florida Board of Legal Specialization
- Title Insurance Closings - residential and commercial
- Wills - Trusts - Estate Planning
- Probate Administration
- Incorporations - LLC Formations
- Condominium Law
Mortgage
Types
as answered in The Breeze by Attorney Sylvia E. Heldreth
as answered in The Breeze by Attorney Sylvia E. Heldreth
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My sister will soon purchase her first house in a new development near my home. She is buying the house directly from the builder and she tells me that he has offered to install ceramic tile throughout the entire house at no charge. The catch is that she must use the builder's in-house mortgage and title companies. Is this deal legal?
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My daughter is about to apply for a mortgage to purchase her first house. She asked me to explain the details of a mortgage to her and I'm embarrassed to admit that all I am really sure of is that this is a loan and she will have to make monthly payments. She is particularly worried about what could happen if she can't make the payments. What can I tell her?
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I have heard that homebuyers can take advantage of current low interest rates by securing a mortgage that is tied to them, not to their property. When they move, it moves with them. What is this about?
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I recently had my home for sale and received an offer that would have required me to take a note and mortgage instead of cash. Why would a seller want to do this? Isn't it risky?
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My mother is excited about the prospect of obtaining a reverse mortgage on her $3,000,000 home to have additional income. I suggested this to her but now I am having second thoughts. What are the disadvantages of reverse mortgages?
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My 77-year-old mother lives in a house worth at least $300,000. I do not believe she has a mortgage. Mom really likes her home but she relies upon Social Security and needs approximately $500 a month more income to live comfortably. She is thinking of selling the house to have additional spending money. I suggested a reverse mortgage instead of selling. What do you think?
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Mom has had a few health problems recently and could really use some cash. My mother has been living in her home for forty years and finished paying the mortgage years ago. What is a reverse mortgage and would it work for her?
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I'm considering using an Adjustable Rate Mortgage (ARM) for my next real estate purchase. I understand that the interest rate for my loan changes as general interest rates go up and down but there's probably more to it than that. I would really like to understand the specifics of how this works.
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I recently saw an ad for mortgages at a very low rate. It mentioned ARMs. Are these loans for real, or is this going to cost me an arm and a leg?
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My son was recently diagnosed with a disease that will eventually be debilitating. He would like to buy a home and is considering financing it with an adjustable rate mortgage which he tells me is called an ARM. He has good credit now but I worry that his health will reduce his income in the future and that his credit may suffer. I also worry that interests rates may go very high again and he will be faced with a higher rate than he can afford. Is there a mortgage that will work for him?
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This information is not intended
as specific legal advice to anyone and is based upon facts that change from time to time. Individuals should seek legal counsel before acting upon any matter involving the law. |
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