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Aqua America, Inc. (NYSE:WTR) announced today that the company’s largest subsidiary, Aqua Pennsylvania Inc., (Aqua) entered into an agreement to issue $58 million in tax-exempt First Mortgage Bonds. The bonds are not subject to AMT tax. The bond ...
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Aqua America’s Pennsylvania Subsidiary to Issue $58 Million of Tax ... - PR Inside
BRYN MAWR, Pa.--(BUSINESS WIRE)-- Aqua America, Inc. (NYSE: WTR ) announced today that the company's largest subsidiary, Aqua Pennsylvania Inc., (Aqua) entered into an agreement to issue $58 million in tax-exempt First Mortgage Bonds. The bonds are ...
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Aqua America's Pennsylvania Subsidiary to Issue $58 Million of Tax ... - StreetInsider.com
Rates Fall Further on Monday, According to Zillow(R) Mortgage Rate Monitor SEATTLE, June 30 /PRNewswire/ -- The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.48 percent ...
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Mortgage Rates Drop for Second Straight Week - Biloxi Sun Herald
WASHINGTON - (Business Wire) The title insurance industry remains in a strong financial position despite the continued reduction in title insurance premiums, the American Land Title Association reported after releasing its first-quarter 2009 Title ...
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American Land Title Association Reports First-Quarter Industry ... - Earthtimes
Read 47 times. In this era of reduced real estate expectations and tighter lending it’s nice to know that taxpayers, via the Federal Housing Administration (FHA), will be helping folks buy luxury condos deep in the heart of Jersey City, New Jersey ...
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Jersey City Deluxe: A Cut Rate Beacon for FHA Buyers - Bloggernews.net
June 25 (Bloomberg) -- Treasuries rose after the last of three government debt auctions this week drew higher-than- forecast demand, bolstered by expectations that the Federal Reserve will keep interest rates near zero through the year. Ten-year ...
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Treasuries Rise After Seven-Year Note Sale, Outlook for Rates - Bloomberg
June 26 (Bloomberg) -- U.S. stocks fell and were poised for the first two-week decline since March after the highest American savings rate in 15 years spurred concern that consumer spending will slow and oil retreated. The dollar dropped after China ...
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U.S. Stocks Drop as Savings Rate Hits 15-Year High, Oil Falls - Bloomberg
WASHINGTON --The Federal Reserve today said the recession is easing, but that the economy likely will remain weak and keep a lid on inflation. Against this backdrop, the Fed held a key bank lending rate at a record low of between zero and 0.25 ...
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Federal Reserve keeps interest rates at same level - Newark Star-Ledger
Illinois Attorney General Lisa Madigan sued a Wheeling tour company Thursday for allegedly failing to pay refunds for trips that were canceled. The lawsuit said Cosper & Cosper Group Tours, owned by William and Gayle Cosper, unlawfully withheld $24 ...
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Firm sued over unpaid refunds - Chicago Sun-Times
Steve Lehr delivers summonses to tenants whose rental properties are in foreclosure as part of his job representing attorneys for mortgage lenders. That process used to result in renters' names being listed in the Alachua County court records and ...
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Relevant Nj Mortgage Rates Links
Nj Mortgage Rates Questions and Answers
Resolved Question: WHAT WOULD YOU PREFER?
IF YOU HAD AN OPTION TO EITHER ENJOY $125,00, AND LIVE IN A 2 BEDROOM APARTMENT IN NY WITH YOUR FAMILY; WHICH CONSIST OF YOURSELF, YOUR ANNOYING LITTLE BROTHER, AND YOUR PARENTS, OR BUY A 1 FAMILY 2 STORY HOME IN A SUBURBAN AREA IN NEW JERSEY, WHICH WOULD YOU CHOOSE. THE PROS AND CONS OF THESE TO DIFFERENT SITUATIONS IS THAT IF YOU LIVE IN THE APARTMENT IN NY, YOU'LL BE ABLE TO SPEND MONEY ON THINGS THAT YOU LIKE AND TRAVEL MORE, AS OPPOSED TO THE EXPENSIVE MORTGAGE YOU'LL BE FACING IN NJ THAT WILL LEAVE YOU WITH LITTLE MONEY TO SPEND ON NICE THINGS OR FOR RECREATIONAL PURPOSES. IN NJ, YOU'LL BE IN A MORE PEACEFUL NEIGHBORHOOD, WITH A LOWER CRIME RATE BUT YOU'LL HAVE TO STRUGGLE FOR SOME TIME TO PAY OFF MASSIVE AMOUNT OF BILLS. WHAT WOULD YOU CHOOSE? THE CHOICE HAS ALREADY BEEN MADE, IM JUST CURIOUS TO KNOW IF YOU AND YOUR FAMILY WOULD HAVE MADE THE SAME DECISION.
moreVoting Question: Mortgage Pre-Approval?
My fiancee and I are going to get a pre-approval tomorrow. We are in the NJ-NY Metro area. Does anyone know where we should go or which bank we should go to?
We were thinking of Bank of America but I don't know much about financing and where to find the best rates. We will be first time home buyers and we would like to know how much we can afford. Any guidance, tips, and help would be appreciated.
Thank you.
moreVoting Question: Is it the right time to buy a house?
Is it the right time to buy a house? Are the current mortgage rates lowest ever?
Any idead if the prices have gone down in NJ?
moreResolved Question: With the mortgage rescue plan do you have to contact your current motgage provider?
Do I have to do a modification to my existing mortgage, or can I apply to refinance with another bank? My APR is well above the current rates and my servicer already denied a modification request. I am not underwater, but I definately don't have 20% equity so prior to now I haven't been able to get a new loan, since I am still current on the one I have. I know the rules aren't published yet, but I want to be ready to go on March 5. My taxes have gone up about $700 per mo. since the original loan (I live in NJ) so I am above the 38% threshold. I would love to get rid of my present mortgage holder, but can I, while taking advantage of the new bill?
moreResolved Question: What are the Closing Costs in NJ?
Here is a list of "fees" on the Good Faith Estimate from Wachovia
Interest Rate is 5.500% (6.191% APR)
0801 Loan Origination Fee: $1446.53
0803 Appraisal Fee $300.00
0804 Credit Report Fee $15
0812 Flood Certification $15
0818 Application Fee $60
0901 Interm Interest $66.54
0902 FHA PMI $2531.43
1003 City Property Tax $978 (3 payments)
1101 Settlement Fee $300
1103 Title Examination $650
1108 Title Insurance $705
1201 Recording Fee $120 (includes deed/mortgage)
1301 Survey $125
1311 Free Form From MPOS $500
Total Settlement Charges $7812.50
The title company sent me a letter with the following (ill type in CAPS to distinguish the difference)
INSURANCE PREMIUM: REISSUE
OWNER'S POLICY: $588
LOAN POLICY: $25
CHARGES:
EXAMINATION OF TITLE: $90.00
MUNICIPAL LEIN SEARCH $45.00
PATRIOT NAME SEARCH VS BUYER: $10
UPPER COURT VS BORROWER: $15
TRANSACTION MGMT PLATFORM: $25
CORPORATE STATUS VS SELLER $35
TOTAL: $833
SETTLEMENT FEE (NOT INCLUDED IN TOTAL)
INSURED CLOSING LETTER: $25.00
FLOOD CERTIFICATION: $20.00
TIDELANDS SEARCH: $75.00
DRAFTING OF METES: $50.00
ENDORSEMENTS (25 PER ENDORSEMENT)
ENVIRONMENTAL ENDORSEMENT
LENDER'S SURVEY
ALTA 9-06 RESTRICTIONS
ALTA 4.1-06 CONDO ENDORSEMENT
ALTA 6-06 VARIABLE RATE
ALTA 22 LOCATION
ALTA 5.1-06 PUD
SURVEY
---------------------------
Is the GFA estimate accurate? Some items are listed in the GFA and then relisted in the estimate from the title company (do I need to pay twice?)
If it's not listed, do i need to pay those fees? If there are items not listed, please let me know so I can ask my lender (Wachovia) if I am responsible for them.
Thanks
Thanks you for your help
moreResolved Question: Why is it that most liberals and democrats fail to comprehend this simple concept?
It seems that most democrats like to play class warfare game usually it is attacking the rich. 1.Here is what I don't understand most of us aspire to be wealthy. 2. I have worked all my life I have never gotten one job offer from a middle class or a poor person. 3 When the wealthy are burden with more government taxes in order to maintain their wealth they have 2 options raise prices (inflation) or if unable to do so, cut workers and jobs.
How does this help the poor or the middle class? it might make you feel good but will feeling good pay your mortgage, for those that have difficulty understanding this concept please explain why...... one caveat the states with the highest tax burden NY California, NJ, Michigan are running deficits and losing population states such as Texas,Colorado Florida have low tax rate yet their economy is thriving why is that?
Wow!! got some great answers i see that marxism and socialism is still alive and strong in this nation. I just pray that these people do not get their wish of a socialist utopia where everyone is average and this becomes just a average lathargic nation.
moreResolved Question: Usury and Loan Sharking in NJ?
I had a second mortgage held by a private individual, and an LLC.his general partnership. My problem is I had borrowed $ 35,000 to finish my home, I was charged a fee that he called an assumption fee of
$ 25,000 AND an interest of 11%. for a total loan of $ 60,000 plus interest. I paid the loan off in a year including the $ 25,000. I know I can file criminally I'd rather receive payment. I need to know where to begin to get my money back and can I seek damages?. The bad part is because I had borrowed other money from him including interest when he made this mortgage he rolled that loan into the mortgage and I paid interest on interest, and since I had refinanced it out of his name I again had to pay interest on interest for the $ 25,000 and interest on interest on interest for an $ 8,200 loan. At the same time he assumed my first mortgage but, the original bank maintained interest in the property and any prepayments had to go to the original bank. Did I mention he has a vested interest in the original bank?I made this loan in end of Aug 2006 and refinanced it out of his name at a much higher interest rate in beginning Sept 2007.
Sam, that's an interesting site but, it didn't answer my question. thanks i think you may have posted this answer to the wrong question.
moreResolved Question: Will we get approved for a mortgage in New Jersey?
My wife and I live in the NJ metro area and would like to start to look for a mortgage to buy our first home. Based on the following income/credit details do you think we would qualify for a mortgage in the 380k to 400k range with a decent fixed rate? Right now we have about 20k available for down payment and still saving.
Combined gross income: 140,000
Me: 75,000 / Her: 65,000
Credit scores:
Me: 670 / Her: 520
Debt: 27,000
Me; Car (12,000 balance) / (2,000 school)
Her: School (13,000 balance)
Credit:
Me: two credit cards: 7,000 total limit / no balance
Her one credit card: 1,000 limit / no balance
Thank you very much for your input.
correction:
My wife's credit score is around 620 (not 520). thanks
moreResolved Question: Will mortgage rates rise, fall, or stabilize in the near future? Fixed vs ARM?
I am in the market for a new home in Northern New Jersey, have already exited attorney review, and am now in the process of property inspections. I'm concerned with the stability of mortgage rates and undecided whether I should lock in the lowest rate I can get now (which is about 6.2%, down to 6% if I pay a point or two). Is there a foreseeable change in the future in either direction? I live in the Newark NJ area, which is very close to NYC. Are metropolitan areas fairly isolated from this market? I've heard NYC is still growing in the real estate sector. Also, ARM rates are considerably lower than conventional Fixed rates (almost 1 full point)... does this make an ARM more financially sound, or will I be renewing 5 to 7 years down the line to rates that are far exceeding today's rates? I know most of these questions are firmly hypothetical and are difficult to pin point without a crystal ball, but I'm looking for educated speculation on this topic. Any advice is greatly appreciated.
moreResolved Question: How come liberals say they hate taxing yet elect Corzine for NJ government??
Ok. WTF. many of you may already know that NJ is the highest taxed state. so why in the hell of it would liberals like corzine if they claim to hate taxing?? if you didn't already know, due to corzine's budget cut, we all have to suffer. and now he is taking away our state parks??!! he is also taxing fast food for even more. what used to be $5 for a value meal at mcdonalds is now $6.99. $2 may not sound like much but why should i pay $2 more for a meal that i could have gotten a year ago for $5. it doesn't make sense!! yet the liberals here in NJ think hes sooo great. i think Mcgreevy was better!! and thats saying something because i hated Mcgreevy!! I hate how liberals say they don't like something yet do it anyways. and did i mention that mortgage rates are higher then ever??!!! because of corzine's stupidity my family and my friends' families have to suffer!! what do you guys think of this??
moreResolved Question: How do foreigners end up owning apartment buildings in the NYC metro area?
First off, I am not being racist. I am genuinely curious!
I live in North NJ near NYC where properties are extremely expensive. To give you an idea, the going rate for a tiny studio in the area is $1000 - $1300. Onto my question: Why does it seem like all the landlords and building owners I've encountered are not from this country? Are they already wealthy before they come to the U.S. or something?
I ask because owning an apt complex sounds like a sweet deal! You collect ridiculous amounts of $, throw a percentage at your mortgage and property taxes and pocket the rest! Seems like your only responsibilities are dealing with tenants and making sure the place isn't falling apart.
Any comments?
moreResolved Question: Obama's plan for tax cuts for the middle class..?
From NBC's Andy Merten and NBC/NJ's Aswini Anburajan
A day after calling for greater transparency on Wall Street, Obama focused on middle-class tax relief while speaking today to an intimate gathering of about 100 guests in a hotel conference room in DC.
Beginning the speech by telling the story of his father-in-law, who was able to support his family despite the burdens of overt racism and the obstacle of suffering from multiple sclerosis, Obama spoke of a “basic social compact” that says, “If you work hard, your work will be rewarded.” He continued by lamenting, “That social compact is starting to crumble and erode... This isn’t the invisible hand of the market at work. It’s the successful work of special interests.”
The Illinois senator’s plan to “relieve the burden of the middle class” includes four points: 1) an income tax cut of $500 per person (or $1,000 per working family) for 150 million Americans; 2) a universal mortgage interest credit of 10% for homeowners who make under $50,000 a year; 3) the elimination of income tax for retirees making less than $50,000 a year; and 4) simplifying the process of filing a tax return.
How would Obama pay for these tax cuts? Obama plans to eliminate the carried interest loopholes that benefits hedge funds and adjust the top dividends and capital gains rate between 20% and 28%. The campaign also claims that aggressively seeking out international tax shelters, challenging existing loopholes, and requiring countries that harbor tax havens to be open about who is investing in them would allow the IRS to reap the $85 billion in lost revenue back.
Another question that remains unanswered by the Obama tax plan is the Alternative Minimum Tax (AMT), which penalizes many middle-class taxpayers. Congress has traditionally expanded the exemptions under the AMT on a year to year basis, with only 3.5 million Americans qualifying to pay the tax last year. If congress doesn't act to renew the exemption this year, the AMT would affect 23 to 24 million Americans, according to the Urban Institute.
Reporters today badgered Obama's senior economic policy adviser on the AMT question, but were told that this proposal was done without regard to that tax. But if the goal of an Obama policy proposal is to simplify the tax code, leaving the AMT untouched could prove to be problematic.
moreResolved Question: should i refinance to purchase investment properties?
i reside in North Bergen, NJ 07047 i'm trying to refinance to purchase an investment property but i don't want to lose my low APR rate for a higher rate. i currently have a 5.25 on my 1st mortgage and a 5.8 on my second. lenders now are charging ridiculous closing cost $3,000-6,000. what is the best way to purchase an investment property without messing with my current loans?
moreResolved Question: Should I sell the house or keep it?
I am in NJ. I have a house that I bought and I am renting it out right now. I am renting myself.
My problem is that the rent is $350 less than the mortgage. So I am loosing ~ $4000/yr, if you add other related expenses.
Does it make sense to keep the house or should I just bite the bullet and foreclose. I think It will be hard to sell it (value has dropped). Meanwhile I can't move into it, becuase it's too far from work. My credit is excellent right now. I know that it will be trashed once I foreclose, but is it worth it to keep loosing that kind of money just to protect credit rating?
moreResolved Question: Do you think interest rates are going to drop?
I am thinking to refinance a 30 yrs fixed mortgage. I am paying 5.95% right now. My credit is excellent and I am in NJ.
Do you think rates are likely to drop in the near future? .
I know that the fed interest cuts are only designed to help the banks (which doesn't make any sense!). So I guess rates will stay high for a while and the credit crunch will worsen?
moreResolved Question: What rates should I be getting for my mortgage?
The purchase price of the house is $490,000.00. I am getting a piggyback mortgage wherein I am putting 5% down, and financing 80% on the 1st mortgage, and 15% on the second.
I am buying in NJ and my credit rating is good.
This would not fall under jumbo loan parameters. It is a piggyback loan - that is totally different.
The 1st loan would be for 80% -392,000.00
The 2nd loan would be for 15% - 73,500.00
moreResolved Question: Do I have to get my home mortgage from the state where the property located(NJ)? Could I get it from NY?
Hello, I am buying an apartment in Jersey City, NJ, and I would like to get the mortgage from the Bank of America(BOA). Do I have to get the mortgage from the BOA branch located in NJ? or I could get the mortgage from any BOA branch (let's say one in NY)? Is there any difference other than rate? Anything else I should concern about? Thank you very much!
moreResolved Question: Should I continue to move and rent or buy?
I live in NY but will move to NJ. My job is in NJ. My commute would be a dream if I moved to NJ of course. In the next several weeks I'll be able to save at least 10K for a DP for a house. Don't have much in the bank but 401K/403B. Only have student loan dept.
I've estimated what my monthly bills would be including mortgage payments and its doable.
I'd like to buy in an area where its usu very expensive but since the market is so slow right now, I think I should jump on it. Plus the interest rates are less than 6%.
Now I stay with family with my young child. And although I know they are happy to help I hate that I am imposing. They do not complain but they really have not made room for me to be comfortable and stay temporarily.
Moving can be very time consuming and stressful. And of the expenses involved. Do I rent in NJ to save more and then buy or take the leap when the market is favorable for buyers?
But I'd have to move twice with my young child.
moreResolved Question: Why many businesses in Wildwood, NJ are for sale now?
I counted 5-6 of them only in Pacific ave. area. No tourists? Local taxes? I understand with houses - with higher bank rates some people cannot pay mortgages, houses are being sold by banks. New owners cannot buy them for the same reason. So many houses become rental instead of owned. But what is wrong with businesses? People will be still coming to the shore - to owned or rental property...
moreResolved Question: what are the conseqences of not being able to afford my current mortgage and they foreclose on my house.?
I have one of those "crazy mortgages" that everyone talks about and our payment is now 4100.00 a month. My credit is good and my income is good. I have a wife and 4 kids. We can no longer afford our mortgage and I have been actively trying to fix my situation. I have called the bank for a lower rate. They won't deal with me. So, being in the auto industry,I have secured a good job in Florida and I am closing on a different house in Florida in 2 weeks. I have my house for sale in nj but cant afford both payments. I am working with a realtor that will assist me with a short sale. My house is worth around 485000.
I owe 412000 on the first and 74000 on the second. different banks.I know this will adversely affect my credit if the house does not sell. Scenario A is I lose my house if my house does not sell and my credit is ruined. Scenario B is I buy the house in florida and possibly lose my house in nj but i will still be a howeowner living in florida.
moreResolved Question: Can I refinance my mortgage if I have no equity?
I have a 30 yr adjustable rate mortgage with the first 3 yr fixed rate of 6.8%, I have 1 yr since I refinanced. Is it a good time to refinance now that the rates dropped so much? Can I refinance even if I dont have any equity on the house?
What I want to do is lower my rate & my monthly payment, not get any money out it.
Please advice, I dont want to find myself in a place where I'm about to lose my house. BTW I live in NJ.
moreResolved Question: What happens at bankrupty court?
My husband and I are filing Bankruptcy on our house due to getting into a bad adjustable rate. We have court tomorrow morning and I am really nervous. This was our first house and we had no idea what we were doing when we got into this mortgage. My attorney is a pretty high profile attorney in NJ so he has been really busy and hard to get ahold of. So I have no idea what to expect. We are in New Jersey if that helps at all. I was a legal assistant for a long time so I understand how the court system works but have never been in the situation myself. Please help so I can get a little sleep tonight. Thanks everyone!!
moreResolved Question: Mortgage question. Please help!?
Which is better? Both are FHA, 30-year fixed mortgages.
One lender is offering 6.25 interest rate with 1 point; the other 6.375 interest rate with no points.
The property is listed at 150k. We're putting down 3% and having the seller pay closing costs. Taxes are 205.33 a month (NJ), $77.00 a month Association fee. Mortgage insurance is 60.71 a month.
Both have application fees that are comparable. Please help!!!
I am preapproved with both lenders.
I think I'll go with the 6.25 and 1 point since I'm not paying for it. We plan to stay in the home for at least 5 years.
Anyone else?
If the seller is paying the point, why are people saying the higher rate is better?
moreResolved Question: Whats an average mortgage intrest rate?
I'm trying to do some monthly payment math, but I have no idea what an intrest rate on a mortgage would be (in NJ, a 175,000$ condo, 5,000$ down payment, 30 years)
...any advice?
thanks for the advice, I know nothing about buying homes and my dad hired me to find one for him... lol.
moreResolved Question: Does anyone need a mortage or looking to refinance in PA or NJ?
I am a mortgage lender who serves PA as well as NJ. We offer great rates and allow the client to choose their own payment plan from 5 different companies. Ask me how to get a free appraisal.
moreResolved Question: Is All of this legal to file a quikclaim deed, is this just for new jersey?
Purpose: To convey or transfer title to a freehold interest in real property.
Recording Requirements:
1. Name(s) of the grantor(s) (seller).
(N.J.S.A. 46: 46:15-1.1)
2. Name(s) of the grantee(s) (buyer).
(N.J.S.A. 46:15-1.1)
3. Complete mailing address of the grantee, including zip code.
(N.J.S.A 54:4-32)
4. Date of deed.
(N.J.S.A. 46:19-3)
5. The amount of consideration must be clearly stated
in the body of the deed, acknowledgment, or affidavit
of consideration (if necessary),
plus the balance of any assumed mortgage.
(N.J.S.A. 46:15-5)
6. New Jersey Realty Transfer Tax is due.
New Jersey Realty Transfer Tax Rates Effective 8/1/2004 Consideration Amount Rate per 500 of Consideration Rate per 1000 of Consideration
Standard & New Construction up to 350,000 1st 150,000 2.00 4.00
150,000.01-200,000 3.35 6.70
200,000.01 + 3.90 7.80
Standard & New Construction over 350,000 1st 150,000 2.90 5.80
150,000.01-200,000 4.25 8.50
200,000.01-550.000 4.80 9.60
550,000.01-850,000 5.30 10.60
850.000.01-1M 5.80 11.60
1,000,000.01 + 6.05 12.10
Partial Exemption up to 350,000 Senior Citizen, Blind, Disabled, Low & Moderate Income Housing 1st 150,000 0.50 1.00
150,000.01 + 1.25 2.50
Partial Exemption over 350.000 Senior Citizen, Blind, Disabled, Low & Moderate Income Housing 1st 150,000 1.40 2.80
150,000.01-550,000 2.15 4.30
550,000.01-850,000 2.65 5.30
850,000.01-1M 3.15 6.30
1,000,000.01 + 3.40 6.80
There is an additional fee for Grantees of properties which transfer for more than $1,000,000. The fee is 1% of the entire consideration.
For more information go to http://www.state.nj.us/treasury/taxation/
An Affidavit of Consideration (RTF-1) is required for exemption or partial exemption from New Jersey Realty Transfer tax. An Affidavit of Consideration (RTF-1) is now required to be affixed to and recorded with all deeds transferring "new construction" in addition to the existing claims for a partial exemption. "NEW CONSTRUCTION" must now be printed clearly in upper case lettering on the top of the first page of deeds transferring new construction as well as on the Affidavit of consideration. A duplicate copy of any Affidavit of Consideration is required at the time the deed is presented to the County Clerk for recording; the duplicate can be a photostatic copy. A separate Affidavit of Consideration (RTF-1EE) is required for transfers over $1 million. For printable forms go to http://www.state.nj.us/treasury/taxation/
7. Name of municipality with the block and lot number from the current tax map.
(N.J.S.A. 46:15-1.1)
8. Signature(s) of grantor(s).
(N.J.S.A. 46:15-1.1(2)).
9. Name(s) of grantor(s) must appear typed or printed beneath
signature(s).
(N.J.S.A. 46:15-1.1(4)).
10. Grantor(s) signature(s) must be fully acknowledged by a notary
public or other officer authorized by law to take oaths.
Acknowledgment must include the name of the state and county
where the acknowledgment is taken, full date, name(s) of the
person(s) signing the deed. If the grantor is a corporation or
other entity there must be a statement that the maker was authorized
to execute the instrument on behalf of the entity and that the maker
executed the instrument as the act of the entity. Notary or other
officer taking the acknowledgment must sign the acknowledgment and
print his/her name and title.
(N.J.S.A. 46:15-1.1(3), N.J.S.A. 46:14-2.1).
11. Printed name and signature of preparer must appear on the first page.
(N.J.S.A. 46:15-1.1(6)).
12. Record and return information on document.
(N.J.S.A. 46:19-5).
13. Effective 8/1/2004 Chapter 55, P.L. 2004 now requires nonresident individuals, estates or trusts that sell or transfer real property in New Jersey to make an estimated Gross Income Tax payment prior to the recording of the deed. Each deed requires one or more of three Gross Income Tax Forms (GIT/REP-1, GIT/REP-2 and/or GIT/REP-3) For information call (609)292-6400. For forms go to http://www.state.nj.us/treasury/taxation/
Fee: Regular Fees - $30.00 for the 1st page plus $10.00 for each printed page after, Affidavit of Consideration is $10.00, each GIT form submitted is $10.00, plus $10.00 tax abstract fee, per municipality.
Comment: If consideration is less than $100.00, an affidavit of consideration is required or payment of $2.00 tax.
Make checks payable to
Cape May County Clerk
and deliver document and fees to
7 N. Main Street DN 109
PO Box 5000
Cape May Court House NJ 08210-5000
moreResolved Question: Assumability of FHA Mortgages and release of liability?
I am receiving conflicting information. I have one mortgage broker stating that no conventional fixed rate mortgages are assumable and must be refinanced. The bank itself is giving conflicting information. The rep on the phone states they will send out an Assumption of Mortgage and Release of Liability package, while the rep that the broker deals with for that bank says they don't have assumable mortgages. According to this site http://finance.yahoo.com/loan/mortgage/ask_the_professor/article/101609/Should_I_Assume_the_Sellers_Mortgage it would appear that if the mortgage is FHA insured that it IS assumable. Are all FHA loans assumable, or only those that do not have "due on sale" clauses? Who is right? The bank doesn't even seem to know the answer. Located in NJ.
Are Freddie Mac mortgages assumable under any circumstances?
moreResolved Question: Townhouses/Condos in NJ?
I am looking to purchase a townhouse or condo in northern nj. So far I have tried rent.com, craigslist.com, century.com, and yahoo.com. Does anyone know any good and valid websites to search on? Also, does anybody know how to calculate how much a monthly mortgage payment would be and what is a going monthly rate for this (ex: 6%, 8%, 12%, etc.)? Thanks for your help.
moreResolved Question: Where and how can we find a decent home in a safe neighborhood/town in NJ or PA?
We can only get a mortgage for $100,000
We are looking to buy a decent home in a safe town (low crime rate) but still stay in New Jersey. Don't know where to look, haven't found anything except in high crime areas. Any suggestions?
more