by kelleyandgrantlaw | Apr 24, 2025 | HOA, Mortgages:
A growing, secretive database of ineligible condominium buildings is causing significant challenges for owners in South Florida. This list, managed by the federally chartered Fannie Mae, has expanded rapidly, making it more difficult for owners to sell their units or...
by kelleyandgrantlaw | May 2, 2024 | Mortgages:, New Homes, Real Estate Law
Quick Answers What it is: The Florida Realtors/Florida Bar AS IS Residential Contract for Sale and Purchase, written jointly by Florida Realtors and The Florida Bar and used in a large share of Florida home sales.Is it required: No. It is the most common form, but...
by kelleyandgrantlaw | Jan 7, 2017 | Mortgages:
Measuring your existing debts against your existing income is one part of a lender’s required assessment of your ability to repay a loan. Like the video says: debts are existing financial commitments; a car payment is a debt a grocery bill is not. To calculate your...
by kelleyandgrantlaw | Jan 7, 2017 | Mortgages:
What are the “Ability to repay” rules about? In a nutshell, as this video shows, new laws require lenders to make a good-faith assessment of a borrower’s capacity to pay back their loan over time. It’s a longer-term view that goes beyond immediate income, debt and...
by kelleyandgrantlaw | Jan 7, 2017 | Mortgages:
As this video explains, Federal laws put into effect in 2014 and supervised by the Consumer Financial Protection Bureau define lending practices and loan terms for a new category called “Qualified Mortgages.” They provide stable loan features for consumers and...
by kelleyandgrantlaw | Apr 4, 2014 | Mortgages:
Equity is the value YOU own in property such as a house. It’s the difference between what’s OWED and what the property is WORTH in the current market. The example this video shows – you have a house worth $300,000 today and you owe the bank $200,000....
