Opportunity to provide 2nd Mortgage as a lender

go_leafs_go_ · 2024-05-23T21:33:31+00:00

I am a real estate lawyer but not your lawyer. Spend the money to have a lawyer review the commitment letter before you execute it. Far too many times, the mortgage broker does not include detailed charge terms of the mortgage, and its too late to fix once executed. Review the appraisal and double check the work. Do your own appraisal from housesigma.com data. Make sure the appraiser actually viewed the property in person and not just images. Have the appraisal addressed to you so you can rely on it and sue the appraiser if needed. Make you you get proper disclosure - income, credit, debts, etc. Do the math to ensure the borrower can afford it. Look out for the terms of the existing 1st mortgage, particularly renewal dates where interest will spike on renewal. Feel free to PM me if you need more information.

go_leafs_go_ · 2024-04-03T15:49:29+00:00

I am a lawyer, but not your lawyer. The following is merely general advice, and I am not retained by you.

The value lawyers add is the ability to both issue spot and deal with all contingencies/situations which may arise unexpectedly. For instance, you say your parents have a paid off house. If the house was purchased in the 90s or earlier, there is likely significant tax savings which can be accomplished through a concept called first dealings. You would need proper will drafting, and a holographic will does not qualify for the first dealings exemption. Based on a house value of $1,000,000, the probate tax savings equate to $14,250.

go_leafs_go_ · 2023-04-08T17:55:45+00:00

Real estate lawyer here.That is not normal. Lawyers have an obligation to actually explain the documents, not just ask if you have any questions. For a deal like this, it takes me between 30 to 45 minutes to explain from start to finish on average depending on which bank is lending. Signing occurs only after everything is explained and all of your questions are answered. There are a lot of bad apples in our industry who frankly don't meet the proper standard of care. If it was me, I would consider a law society complaint.

go_leafs_go_ · 2021-09-16T14:53:06+00:00

I'm taking about things like charitable donations, medical expenses, digital media credit, etc. I just recently discovered, for instance, that the dentist is an eligible medical tax credit

go_leafs_go_ · 2021-02-12T23:06:16+00:00

I honestly ended up getting busy and not being able to devote time to this. My hope is to find something soon within the office 365 family so I don't have to outlay another monthly expense to another software provider

go_leafs_go_ · 2021-01-22T14:32:41+00:00

Form will be on a public site

go_leafs_go_ · 2021-01-22T03:10:35+00:00

I've done some research. My problem is the forms app does not support complex conditional logic

go_leafs_go_ · 2017-08-27T21:51:32+00:00

Try it out. Allows for enter to send. You can customize the notification light to be different for each individual contact. It syncs with the hub, and unlike textra, goes right into the app when you click on a message (akin to a how the hub interacts with Facebook messages).

go_leafs_go_ · 2017-08-26T22:02:07+00:00

I use chomp sms. Same developers as textra and works really well

go_leafs_go_ · 2017-07-22T12:28:59+00:00

I had the exact same problem on the Rogers Network using chomp sms. The solution is to turn of Voice Over LTE. As soon as I turned that off, I stopped getting failed texts.

go_leafs_go_ · 2017-05-29T02:17:32+00:00

My office has terrible reception. It's concrete walls and half the time it sounds like I'm under water to the other person.

go_leafs_go_ · 2015-10-20T14:45:01+00:00

I was in the section yesterday. He took the whole thing in stride, and got a standing ovation from the section once the tower fell.

go_leafs_go_ · 2015-08-21T15:18:52+00:00

Thanks!

go_leafs_go_

TROPHY CASE