Understanding the home loan process can be complicated, particularly with all of the loan-specific terms. Becoming familiar with frequently used lending terms may make the process less stressful. In this article you will find information on frequently used lending terms. This list, however, is not exhaustive.
With the excess of free time that can be afforded to oneself due to a lack of power caused from the Blizzard of 2013, I started to ponder: what will the Massachusetts real estate market would look like at the end of 2013? Hence, here my thoughts on where I see the market headed this year.
February 12, 2013
This is a recap and follow up to a post that I wrote several years ago on the often-overlooked insurance process involved in a real estate home purchase. Performing office meetings at real estate offices and speaking to mortgage brokers on a multiple state basis, I find it is an appropriate article to begin the first of many articles William Raveis Insurance shall provide to increase awareness of the insurance side of the real estate and mortgage business. Property insurance is required if there is any mortgage, or, in the case of a lease, any landlord requirement. This post speaks to what has become a little known fundamental step in the insuring process that every insurance agent and every insurance carrier performs. Please spend a moment to review the article, digest it and provide me your thoughts, ideas and concerns or if you have found out that claims do impact home insurability the hard way. Continue reading
September 14, 2012
Phyllis Lerner of William Raveis Legends in Tarrytown, New York, provided this guest post detailing the homebuying process. We couldn’t have done a better job ourselves! Lerner addresses issues that face homebuyers with a fine-tooth comb. Whether this is your first time purchasing a home, you’re downsizing, or moving into a mega-mansion, there is a list of essentials you must check off before calling a U-Haul. And don’t let the big book intimidate you. Ms. Lerner clearly breaks down the most important items in just 1,200 words. Let’s see what she has to say.
August 1, 2012
BUNDLING YOUR INSURANCE: When shopping for home coverage, best pricing is usually obtained by combining your new home with your auto and umbrella and jewelry. Continue reading
March 27, 2012
I am happy to report that all our 13 carriers backed off on applying the hurricane loss deductible in CT and NY to the Irene claims ..much to our policyholder’s advantage! Only one carrier in the state did not back down on the hurricane only deductible and Continue reading
November 3, 2011
In today’s economic climate, you cannot help but hear about the breakdown in the foreclosure process on a local and national level.
Many National Title Insurers have advised agents that they cannot insure any property coming out of a foreclosure. Others have taken a more tempered approach and are reviewing each foreclosure to be insured on a case-by-case basis. Continue reading
November 11, 2010
Recent wind and rain storms have left many individuals puzzled over their homeowners coverage.
“If a tree on my property falls over due to windstorm and damages my neighbor’s deck, does my policy cover the damage my tree did to their home?” This is the most common question we get at William Raveis Insurance. While it is nice to be neighborly and want to take on the expense of damage your tree did, it is actually the neighbor’s homeowners policy that will pay for their loss and removal of the tree from their premises. You are not responsible (liable) for the removal of the part that fell on and damaged their property and your insurance carrier will not pay their damages. If the tree is live this is considered an “act of God” for insurance purposes.
Most homeowners assume that their insurance policies will cover trees that are felled by windstorm…and this is true. However, what most are unaware of is that there is a limitation under your home policy per tree and per loss. The limit under most home policies is $500 per tree with a total of $1000 for tree removal per loss. While there is no limit for the damage the trees do to your home, as a homeowner you should be aware …and plan ahead. If you have purchased a property with trees surrounding the house, be sure to cut back any branches that overhang the roof, gutters or infringe on power lines. Continue reading
August 13, 2010