Title Insurance Discount for First Responders, Veterans, Active Military and Health Care Workers
We wanted to make you aware of a discount
that we are offering in partnership with one of our Title Insurance Underwriters. The discount is offered to First Responders, Veterans, Active Military and Health Care Workers. The discount applies to the owner’s title insurance premium incurred in relation to the purchase of a home. In order to qualify only one of the buyers needs to be in one of the groups listed and they must be purchasing a Massachusetts 1-4 family owner-occupied property.
• The Discount is equal to Ten percent (10%) off title insurance premiums for expanded or standard owner policies.
• Offer valid through December 31, 2021.
• The offer cannot be combined with any other discount
When you buy a house, you are buying more than the structure and the property it sits on. You are also buying its legal history, as identified in the title. Title insurance insures buyers against a loss resulting from matters affecting the title to the property. Title insurance companies evaluate the history of the property and insure that nothing in the history of the title will result in a loss to the insured. Unlike other forms of insurance, title insurance is paid for by a single, one-time premium at the time the property is acquired. The Owner’s Coverage is determined by the purchase price of the property, so the higher the purchase price the greater the amount of the savings, also, the premium for the expanded coverage is greater than the premium for the standard coverage.
We are proud to be able to offer this discount to so many that have served our great nation and to those that protect us every day.
We all know it is getting harder and harder to find our little piece of this earth to call our own. Housing prices continue to rise and the demand for houses has only gotten more competitive. This have never been more true than on Cape Cod, where one condo owner believed they owned more than their deed described.
In a recent Land Court decision in Barnstable County Massachusetts, an owner of a condominium filed suit against the Trustees of the Condominium, stating they have acquired a piece of the common area property as their own property through adverse possession. Adverse possession is law designed to promote the use of land throughout the Commonwealth. In Massachusetts to acquire land through adverse possession, one must have exclusive use and control of property for over 20 years. This use must be done openly, so that the owner would be able to see another using the property. The person using the land must also not have permission to use the land. In the case at hand, the plaintiff met all the requirements of obtaining the common area land as their own via adverse possession.
In this case the judge ruled against the plaintiff. Even though all the requirements for obtaining land via adverse possession were met, it violated the Massachusetts condominium laws, stating each condo owner already owns a proportional, undivided interest in the common areas, which can not be modified without the consent from the other owners in the association, and a modification of the Master Deed would be required. Furthermore to award the property to one owner via adverse possession would make the laws pertaining to the governing of condominium associations meaningless.
It’s understandable why the court came to this decision. As more and more condominiums are built, we need well defined laws to allow them to peacefully and independently run.
Thinking of buying or selling a condominium? Do you have questions about your current condominium or its association? Contact us at Topkins and Bevans, we have decades of experience in all types of real estate law, including condominiums.
These are both very good questions. Let’s start with the first question and then the answer to the second question will be obvious.
What is Owner’s Title Insurance? It is Insurance that insures you against losses you may suffer as a result of issues affecting the title to your property. When you are buying a property in Massachusetts usually a title examination is completed that complies with MGL Ch 93 Sec 70. Based upon the result of this search a Title Insurance Policy can be issued and a Certification of Title may be issued to you. The Certification is dealing with the record title to your property. It is provided by the law firm closing your purchase. They may also be issuing the title insurance for the transaction.
They can issue two different types of policies. The policies issued in most transactions involving the purchase of real estate are:
- Owner’s Title Insurance and
- Lenders’ Title Insurance.
The Owner’s Policy protects you and the Lender’s Policy protects your lender. The lender will make you buy their policy, but your policy is optional. Even tough your interests may coincide with that of the lender their policy only protects them in the event of a loss. This often means not until they have acquired ownership of the property. At that point you no longer have an interest in the property.
When you buy your house, you are buying more than just the structure you will live in. You are also buying the property’s legal history. All the good and bad that comes along with it. Any title issue that impacts the property is now your problem. You may be able to look to the law firm that closed your purchase to address the issue or maybe not. There are numerous problems that can impact your ownership of your property that cannot be detected by a title exam and therefore are not addressed by the Certification. These title issues may be covered by your Owner’s Title Policy.
The Owner’s Policy will insure that:
- You are the legal owner of the property
- That there are no defects, liens or encumbrances effecting your property other than those listed on your policy
- In the event that there is a title defect, you may be able to convey your property to a potential buyer if they are willing to accept insurable title
If you are trying to refinance a loan policy may be issued
Things that are covered:
- Forgery and impersonation;
- Lack of competency, capacity or legal authority of a party;
- Deed not joined in by a necessary party (co-owner, heir, spouse, corporate officer, or business partner);
- Undisclosed (but recorded) prior mortgage or lien;
- Undisclosed (but recorded) easement or use restriction;
- Erroneous or inadequate legal descriptions;
- Lack of a right of access; and
Deed not properly recorded.
Things that may also be covered depending upon the type of Owner’s Policy you purchased:
- Off-record matters, such as claims for adverse possession or prescriptive easement;
- Deed to land with buildings encroaching on land of another;
- Incorrect survey;
- Silent (off-record) liens (such as mechanics’ or estate tax liens); and
- Pre-existing violations of subdivision laws, zoning ordinances or CC&R’s.
- Post-policy forgery;
- Forced removal of improvements due to lack of building permit (subject to deductible);
- Post-policy construction of improvements by a neighbor onto insured land; and
- Location and dimensions of insured land (survey not required).
Your Owner’s Policy will insure the entire value of the property. It will protect you from any legal action taken against you to enforce a lien or property right to your property. The amount of your coverage may increase each year for the first five years of your policy. It is automatically added to your policy with no additional premium due from you. Your policy will protect you during your entire ownership of the property. It may even protect your heirs depending upon the type of policy you purchased.
You should want to protect what maybe the largest investment of your life anyway that you can. The purchase of Owner’s Policy is that one-time investment that should not be missed. You will have the peace of mind that no matter what the issue that comes up with your property’s title you are protected, and the title company will defend your rights. It is no surprise that your lender requires it and so should you.
First-Time Homebuyers have another arrow in their quiver in their attempt to slay the great monster, purchasing their first home. On April 26, 2018, Freddie Mac announced a new loan program targeted at first-Time homebuyers. It is called HomeOne. The Program requires a down payment of 3% and it is provided to otherwise qualified borrowers who are first-time homebuyers. This is not a FHA insured loan but a conventional loan. According to Freddie Mac, HomeOne will be available to borrowers commencing on July 29, 2018, so it misses this spring’s market but it will be positioned for the late summer and early fall seasons.
Freddie Mac’s release stated that “HomeOne mortgage is part of the company’s ongoing efforts to support responsible lending, provide sustainable homeownership and improve access to credit,…The HomeOne mortgage will provide our customers the flexibility they need to help borrowers anywhere in the country achieve the milestone of homeownership and overcome the common down payment resource hurdle. HomeOne is a great solution for aspiring homebuyers to grab that first rung of the property ladder and enjoy the financial and social benefits of participating in homeownership.”
The underwriting of the loans will attempt to make a complete risk assessment based on several factors. It will review credit as it applies to the capacity to repay and the value of the collateral as well as other factors. It was stated that HomeOne mortgage will be offered only for conforming fixed-rate mortgages. The loan must be secured by a single unit primary residence. Not all of the borrowers have to be a first-time homebuyer, but at least one does have to be a first-time homebuyer. According to Freddie Mac it is also adjusting the area-median-income (AMI) limits in an effort to sharpen its focus on low- and-moderate income homebuyers.
So, if you are a first-time homebuyer looking for a property, you may want to consider this loan program. It is also important to note that this is not the only program available to first-time homebuyers nor is it our firm’s endorsement of the program. You should always seek the advice of a well-informed lending professional when you are purchasing a home. Our Firm is prepared to assist first-time homebuyers in their purchase of their home in the Commonwealth of Massachusetts. We want to earn your trust and have you as a client for life.
Earlier this week new lending guidelines for first-time homebuyers were released in a statement by the FHFA Director Melvin L. Watt . Watt wrote “The new lending guidelines released today by Fannie Mae and Freddie Mac will enable creditworthy borrowers who can afford a mortgage, but lack the resources to pay a substantial down payment plus closing costs, to get a mortgage with 3 percent down.
The lower down-payment requirement will allow more first-time homebuyers the opportunity to buy a home. Often the greatest hurdle for the first-time homebuyer is saving enough for a down payment. Many first-timers would try to save 20% of the purchase price that many lenders required. It can take a significant period of time to save that large amount of a down-payment forcing first-timers to wait to buy a home. Right now with rates as low as they are it very well may be cheaper to buy than rent.
FannieMae in its statement regarding its My Community Mortgage® “announced an option for qualified first-time homebuyers that will allow for a down payment as low as three percent. …the 97 percent loan-to-value ratio (LTV) option will expand access to credit for qualified first-time homebuyers that may not have the resources for a larger down payment.” Other requirements will still have to be met by the first-timer. These include “the usual underwriting, income documentation and risk management standards. These loans will require private mortgage insurance or other risk sharing, as is required on purchase loans acquired by the company with greater than 80 percent LTV.”
FannieMae expressed its hope that “Our new 97 percent LTV offering is simply one way we are working to remove barriers for creditworthy borrowers to get a mortgage. We are confident that these loans can be good business for lenders, safe and sound for Fannie Mae and an affordable, responsible option for qualified borrowers.”
FannieMae will require for this program that at least one of the borrowers be a first-time homebuyer.
FreddieMac also provided its guidelines for the low down-payment program. The program is entitled “Home Possible Advantage”
FreddieMac also set forth its Key Facts:
- Home Possible Advantage offers qualified low- and moderate-income borrowers a conforming conventional mortgage with a maximum loan-to-value ratio of 97 percent.
- Home Possible Advantage mortgages can be used to buy a single unit property or for a “no cash out” refinance of an existing mortgage.
- First time homebuyers must participate in an acceptable borrower education program, like Freddie Mac’s CreditSmart®, to qualify for Home Possible Advantage.
- Home Possible Advantage mortgages are available as 15-, 20-, and 30-year fixed rate mortgages.
These programs are seeking to allow the first-time homebuyer the ability to buy a home with less of a down payment but also limit the risk that the loan will go bad or default. They are focusing on the borrowers’ credit worthiness as opposed to the size of their down-payment. There is always an element of risk with requiring a lower down-payment; the homeowner has less of their own money at risk. But when you balance this against the economic drag of so many potential buyers sitting on the sidelines the benefit of pulling pull them into the real estate market may outweigh that risk.
We offer reduced rates for first-time homebuyers. Contact if you are thinking about buying a home. We will provide you with over a century of experience in dealing with real estate.
Watches And Sun Glasses Are A Component Of The Lives Of The Youth In India
At a rooftop police parking lot in downtown Los Angeles, a final briefing for a joint task force of the FBI ray ban usa 43 4 and the LAPD. Glasses frames had been made from leather, bones and metal and sidepieces began as silk strips of ribbon that looped around the ears. Also check out some of the more expensive sunglasses on Ebay, the Buy it Now sunglasses that are around the RRP of Ray-Ban.
Durable wherever you will use it. The materials are proven ray ban font free and tested durable from its metal frames to its great colored lenses that will last for a long time. Individuals who have searched into purchasing high ray ban sunglasses sale aviator end eyewear like Ray Ban sunglasses has undoubtedly asked themselves whether they are in fact really worth the money. It is possible to try this, through removing the lenses you can take a great deal off of the price. All you will need to do may be to get your own lenses and put them in. This is exactly what people do for designer reading glasses anyway, and sun ray ban wayfarer black 54mm glasses aren’t different. So if you feel sick and tired with substandard quality eyewear, consider investing in a set of two Ray Ban frames.
It should be most of the outtakes blended into the original so you would get maybe a 2 1/2 hour movie!Make it also WIDESCREEN like the HELP release,true stereo of course.Until us fans don’t hear of a street date on the release,I think we should all BAN and not buy solo Paul or Ringo stuff and even John’s and Georges until we actually get a release date from Apple!!
A few days later she called and ray ban wayfarer rb4105 price in usa said, "My mom ray bans wayfarer large frames told me to call you and say sorry for not talking to you at camp." Like a Holier Than Thou ice princess I politely accepted her apology but I knew that it was fake
Do You Have Cheap Sunglasses?
If there’s one type of eyewear that has maintained its popularity all these years, it would be aviator sunglasses. It is because ray ban ‘legends collection’ round metal sunglasses of fashion why celebrities love Ray Ban Sunglasses (more about Ray Ban here ). The qualities of the brand are in its highest quality to the frame, lenses and rims that they use in the product.
The Ray Ban sunglasses has get to be the movement of a player’s hot in public places, not just the past couple of years is a sporty style, as well as add more fashion elements. Check out his fake ray ban wayfarer Wayne Bond Sunglasses-newly released and right over time for the new 007 blockbuster, featuring Daniel Craig-decked away in Ray Ban from visit foot. Fake Ray Bans sunglasses are guaranteed to provide your peepers with proper protection against sun damage, as well as keeping them both healthy and strong through the long run. These glasses ray ban aviator rb3025 replacement lenses have ray ban ice pop online a sideways heart shape and also have a light to dark falling tint.
As time passed, ray ban warrior become more and more popular, and gradully become a fashion accessory, transformed into a necessary in daily life. In 1950’s, Ray-Ban introduced multi-color lenses and fashion sunglasses large frame to the market, together with female-used sunglasses. In the mid 1980s, the style of Tom Cruise wearing the classic Ray-Ban aviator sunglasses in The Spirit of St. Louis, became a vogue around the world and surged another Ray-Ban sunglasses heat. It is a fact that ray ban tech india polarized sunglasses are better for your eyes and do help ray ban sunglasses case ebay you to have clearer ray ban made in china original vision when you are out in the sun.
Ray J And Whitney Houston Sex Tape Leaked?!
Blair Robinson, the late Ray Charles granddaughter has recently came forward saying Steven Seagal invited her to his home for an interview as a personal assistant. I always take empty boxes in case the store throws things away without leaving them in big boxes like they usually do. Saves a lot of trips going to the car. Ok, what is the new discreet style you use, and what store tosses speakers, tires, refrigerator, etc. ray ban sunglasses for sale in uae One ray ban outlet store review store throws away shoes when returned but not without first pressing out a large hole into the bottom of at least one in each ray ban shooter femme pair to make them unusable. After locating a store or two, you can do drive-bys during the day if you’d like, parking so you’re able to drive away from their back door easily, a little ways from bins.
Right now it is very difficult to tell the difference between genuine and fake alcohol because the bottles are genuine but the ray ban round gold frame alcohol is not and cannot tell the difference until after you taste it. Here is the link.
There is a saying that if you can only buy one sunglass all of your life, ray ban duty free london Ray Ban sunglass is the best choice. So it deserves your time and careful attention to get the real Ray Ban sunglasses so as to make your life colorful and fashionable. Ray Ban Sunglasses have become part of fashion for women; it is not just a protective gear for the eyes but also a very important accessory. But in Ray Ban Sunglasses they offer a large range of collection to everyone and that is affordable ray ban english website and has great authenticity.
To keep youknow dude keeping the email and it’s come on to him transition into Crescent lunch can’t over now only me she pickin ban you’re right Lynn reach back see if youcan grab your food am nine to back and Middle East Canton alarm plan way FFPE to the left sheldon left upper triceps hold most epic battle knees on the floor stretch it outwidening it me outpost you can have here hand found hands facing each other andlacked the shoulders soften your bath lay event listing time up Ricky thinking ray income can take plan %um condemned paid down play and a matchedset around and then the Adam and dust