There are many reasons why someone might want to put their home in trust, but most commonly, it’s for estate planning purposes. Truly, the act of putting all your assets in trust has the makings of a quality estate plan.
Curious if you should put your home in trust? A revocable trust is a tool you can use today to determine what happens to your property and/or assets after you’re gone. Having this concrete plan in place will save you and your trustees and family from extra troubles in the future.
We encourage anyone with questions on the topic of estate planning and trusts to set up a free consultation with our estates team. Visit stiles-estates.com or give us a call at 781 319 1900.
ICYMI: Mortgage interest rates fluctuate, and they were at an all-time low recently. Although they went up for a bit, they’re back down again now, so it isn’t too late for you to take advantage of this opportunity. But strike while the iron is hot, because they’ll be going back up again before you know it.
We’re hearing that anyone with interest rates above 3.875% could benefit from refinancing, as rates are currently hovering around 3%. Just think of what you could do with that extra capital to invest in your future.
What’s keeping you from going for it? If you need to build a relationship with a loan professional or financial advisor, let us help connect you. If you have other reservations, feel free to schedule a time to strategize with Mark at calendly.com/mstiles
Did you accept forbearance on your mortgage payments because of COVID? Are your options now looking slim or undesirable? They might be telling you you have to pay it all at once, pay a larger sum per month, or even sell your house.
This might not apply to you, but it might apply to someone you know. Now that the foreclosure moratorium is gone, lenders are ready to move preforeclosures along to the next step.
Some borrowers may have been under the impression that their deferred amount would be tacked on to the end of their loan, but in reality the options vary between federal loans and private mortgage providers, who can essentially make their own rules.
We encourage you to check out the Consumer Finance Protection Bureau (CFPB) website for more in-depth information — especially the “Explore Coronavirus Resources” section — to find more about the actions you can take and to make sure your mortgage servicer is behaving ethically.
Please reach out so we can help! Calendly.com/mstiles
Here in Massachusetts we have a lot of surviving historical homes. They are a wonderful connection to the past, but can unfortunately have danger lurking on the walls.
Now of course you can run into any number of issues inside the walls of older homes, but today we’re talking about lead paint. Any home built prior to 1978 when lead paint was banned could possibly have it, making it especially unsuitable for children.
Who is responsible for de-leading a property? Can a seller stop a potential buyer from getting an inspection? And how could you find out if you have lead without an inspection? Luckily, if a property has been tested for lead paint in the past, it will be marked in this public registry: https://eohhs.ehs.state.ma.us/leadsaf…
Watch this week’s video to learn more about what lead paint means for landlords, sellers, buyers and renters.
If you want to do a project on your property but you know you have wetlands nearby, there are a few steps you have to take before moving forward with any construction.
Firstly, you’ll want to get in touch with your local Conservation Commissioner’s office. They will be able to advise you on all the requirements you need to meet in order to complete your project.
Once you get that squared away, you can file a Notice of Intent, or an application filed with the commission and the help of your attorney or engineer. An engineer will coordinate all the details in accordance to your town’s laws about buffer zones.
When you attend a hearing, the board will grant or deny you permission for your project. They will also give you guidance on how to execute it properly.
But be careful to remember this process alone does not grant full approval. To learn about the importance of the Notice of Intent and the As-Built Plan, as well as how to fully complete the process from beginning to end, check out this week’s video!
Did you know Mark is participating in the PMC again this year? Care to donate? http://profile.pmc.org/Mark-Stiles
Massachusetts has so many amazing maintained trails, parks and historic sites across our communities. Does your town have beautiful, public community spaces outdoors for everyone to enjoy? Are you aware that you might be helping maintain them without even knowing it?
Over half of Massachusetts towns have a real estate tax surcharge under the CPA—or Community Preservation Act, that goes toward the support of public open spaces, walking trails, dog parks, recreational facilities and even more.
Each town appoints a board to oversee the Community Preservation Fund. If you have an idea for your community, as a citizen of your town, you have the ability to take action and lead your own committee to direct those funds into a project by entering into a public private partnership with the board and doing some fundraising of your own to boost the small tax fund.
So next time you see that mysterious fee, you can feel confident that it’s enriching your community and making it a better place to live.
What are some of the community spaces you’re proud of in your town?