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Real Estate Sales Representative with Prudential Douglas Elliman Licensed Real Estate Salesperson

Assigments were very popular in the 50's and 60's and they may be coming back in a very big way. The company AssignNewYork is an assignment company that has been steaqdily growing since 2004. Theyve helped sellers and buyers (simultaneous) save thousands of dollars at closing. In order for them to do this the assignment process must begin at the inception of the transaction.

 For years the commercial property has been transferred with an assigment to save the buyer the mortgage tax that was paid on the property. In fact, residential mortgages were typically assigned in the mid 1950's and 1960's. It hasn't been common in the residential market in decades.

 The seller of the home also benefits from the assignment. In most cases the seller will avoid paying the New York State transfer tax they are typically obligated to pay when selling a home. The New York State transfer tax rate is .4% on the sales price of a home. If the seller chooses to assign the mortgage on their home and the lenders allow this assigment, the seller can save up to $2,000 just for signing an authorization.

To find the value of your home with a FREE, over-the-net home eval, please visit: http://www.newyorkmarketvalue.com/

If  you would like a free list of home for sale in Queens, Brooklyn, or Long Island or would like to be the first to know about hot new listings before other buyers do, please visit http://www.allnylistings.com/

Chris Griffith
Downing-Frye Realty, Bonita Springs, FL - Bonita Springs, FL
Bonita Springs Listing Specialist - Agent
Welcome to Active Rain!  Be sure to check out the Newbies Group for tips to make the most of Active Rain.  Good Luck!
Aug 16, 2007 09:55 PM
Vicente A. Martinez
Prudential Douglas Elliman Licensed Real Estate Salesperson - Woodhaven, NY
Realtor, Brooklyn - Long Island - Queens Homes

Thank you for taking the time to read this post and visiting my blog.

As of this comment I have written 460+ blog post - from Stopping or Avoiding Foreclosure to MLS Market Statics For Brooklyn, Queens, and Long Island; to Loan Modifications and Renegotiating The Terms Of Your Home Loan No Matter What Your Situation Is.

I must admit I was a little skeptical when I first joined this community a few years ago. Since then I have helped LOADS of people to Buy, Sell, and Stop Foreclosures.  I've also been lucky enough to climb the charts and am currently #1... not only for my town but for the entire Queens County. I've even made it to #5 for the state of New York! Wow!!!

But let's put that aside and focus on the reason I writing this comment. I wanted to make sure that YOU get a chance to check out the blog posts I've written. These are the ones that I consider the most valuable to you.

I'm sure that You Know Someone that has been affected by the current market conditions and wishes to remain in their home and/or salvage their credit. So for all of YOU I wrote several articles on Loan Modifications. Let's begin by defining Loan Modifications before you jump over to that post.

Loan Modification- A course of action in which the terms of a loan (interest rate, the monthly payment and/or the term) are altered to meet the existing circumstances of the homeowner. This requires the approval of the lender.

In this post we recap the Top 10 Questions for doing your Loan Modification and we answer the following questions:

  • #1 - What exactly is a loan modification?
  • #2 - Will my bank include late fees in my Loan Modification?
  • #3 - Can anyone qualify for a loan modification?
  • #4 - Will a loan modification stop my foreclosure?
  • #5 - What is a standard Hardship situation?
  • #6 - Can my missed payments be added back into my new loan modification?
  • #7 - Will the bank stipulate an interior examination of the property condition?
  • #8 - Do I have to be presently behind on my payments to qualify for a loan modification?
  • #9 - Should I do a loan modification by myself or is it better I hire a professional to represent me?
  • #10 - What do I do first in order to begin to modify my loan right away?

You can click here or any of the highlighted hyperlinks to go directly to that blog post and find the most common Loan Modification Questions our full time staff has encountered.

Feel free to share this online article with anyone that is having a rough time with their mortgage payments OR Anyone who wants to learn how to save hundreds maybe even thousands of dollars a month by having us modify their home loan for them. Call 646-294-2561.

On several occasions I have also posted information on Buying Bank Owned REO's and Short Sales. So if YOU are looking to pick up a property for $0.60 maybe even $0.50 cents on the dollar AND wish to do so in Queens, Brooklyn, or Long Island - then these previous posts are for you.

How To Buy A Shortsale or Foreclosure in Queens - Brooklyn - Long Island NY

Home Buyer Affordability Is Thru The Roof!!! - Check out the video

Buying A Fixer Upper? Things You Need To Factor Into The Equation

First Time Buyer Tips to Put You In Control

Buying A Bargain Property?

How to buy an REO (Foreclosure)

Also, you can get a jump start on your search by visiting www.AllNYlistings.com where YOU will be given access to over 50,000 homes in the Queens, Brooklyn, and Long Island areas.

I know how frustrating it could be when searching for the right information online so I'm always happy to assist and answer any of your questions.

P.S. I also want to take the time to Thank ActiveRain and the creators of this superior online national real estate community.

P.P.S. Feel free to comment AND SUBSCRIBE to my blog to be sure to receive the newest most relevant blog post of interest to YOU.

Feb 24, 2009 05:39 PM