It’s no secret that this year was challenging for a lot of reasons. People lost jobs, security, loved ones, and we’ve had to re-think and re-learn a lot of things about life.
Perhaps you ran into a bind and were forced to accept your lender-offered forbearance… but what if you’re still not ready to continue payment? Now what?
That’s where the team at Stiles Law comes in. We’re ready to help you decide on the best next steps and facilitate communication with the right people to get you back on track.
For example, you might benefit from a Comparative Market Analysis of your property to reveal any home equity you may have.
It can feel like a heavy burden to bear, but we’re here. Take the first step and make a calendly appointment at calendly.com/mstiles for a free strategy session.
Whether you want to sell it right away or not, your first call should be to a Real Estate professional to find out the updated value of the property. Chances are it probably won’t be valued at the same price it was purchased for, especially if that was many years ago. You’ll want to have a Comparative Market Analysis (CMA) generated to keep on file.
Along the way you’re going to have to consider things like title exams, title insurance and reviewing estate plans. A probate attorney, a mortgage loan officer and maybe even a business attorney might become your new best friends as each of their specialties can guide your process.
This may seem like a lot of technical details to keep track of and might feel overwhelming. However, it can all be smoothly managed with a little professional help. In dealing with situations like these regarding finances and mortgages, make sure to let your advisors know you’d like to connect with the team at Stiles Law.
If you have questions, you can always contact Stiles Law by calling (781) 319-1900 or visit https://stiles-law.com. Schedule a chat at calendly.com/mstiles.
This quick and comprehensive video on title insurance provides a description of the types of title insurance out there, the obstacles coverage protects homeowners from, and answers to some common assumptions and questions we get about this topic.
There tends to be a lot of confusion over this term, but here’s the 411 on the quitclaim deed. Put simply, someone is quitting their claim on a property by relinquishing it over to someone else, including interest, but without representation or warrantees.
However, there are a few ways in which this can turn into a fraudulent situation. Watch this week’s video to find out how someone might be able to pull this off and how you can protect yourself and your property from falling victim this crime with the help of title insurance.
You can always contact Stiles Law by calling (781) 319-1900.
In 2020 we did a video about homesteads and what they’re for (you can find that linked below). But in a nutshell, homesteads allow homeowners to protect the value of their property, most commonly from issues with creditors. It’s a good preventative measure just in case something goes awry.
How might you find out if you have a homestead when you’re not sure? Well, you can check the closing papers from your purchase for a homestead declaration recording fee. But you can also check the online registry of deeds (we have a video on that too).
If you have any further questions about homesteads, contact Stiles Law by calling (781) 319-1900.
Documents related to the purchase of your home, including your settlement sheet, your promissory note, home inspection report, and title insurance policy are some important things you should keep.
Documents like a deed, homestead, and mortgage are public records and can be freely accessed in most counties in Massachusetts. No need to save hard copies.
For a refinance, the discharge document is the most important to keep on file.
Utilize scanning to keep your documents digital!
If you have any questions about the importance of keeping documents, contact us by calling (781) 319-1900.
