While Thomas M. Denaro has significant experience in foreclosure law, he can also offer his services for other aspects of real estate issues. He spent years in the real estate title industry and he has learned a lot about real estate during his 34 years practicing law.
You may think you only need to work with a realtor on real estate deals, but New Yorkers hire attorneys to represent them whether they are buying or selling a piece of real property. Attorneys are helpful when you’re negotiating a sales contract, and they should prepare for and represent you at your closing as well. Other ways they can help with the process include:
Holding the contract down payments in escrow;
Reviewing the engineer’s report;
Negotiating repairs with the buyer and the seller;
Order a title report on a property to check for liens.
Clearing objections to title in order to close.
Buyers and sellers are not the only groups who may need help with their property purchases. Senior citizens who have retired and are struggling to live on a meager income may also benefit from speaking to an attorney about their options. One of the ways Mr. Denaro can offer assistance is by educating older citizens on how to make their real estate work for them through a reverse mortgage.
Reverse mortgages often have a stigma attached to them – people view them as a scam that mortgage companies use to target the elderly. But the truth is, a reverse mortgage may be a viable option for some people. If you are retired, or you are retiring soon, you may want to look into them.
Additionally, if you don’t qualify for either type of consumer bankruptcy, a reverse mortgage is an attractive option, because it allows you to live in your house without making monthly mortgage payments; you will just need to pay your property taxes and homeowner’s insurance. If you decide to sell your home, however, you will be required to pay off the entire balance of the mortgage.
A reverse mortgage allows homeowners that are 62 years old or older to convert some of their home’s equity into cash. It is called a reverse mortgage because the lender makes payments to the borrower, whereas in a traditional mortgage, the borrower makes payments to the lender.
This type of mortgage exists for older persons who are on a small fixed income but who may need a little extra money to cover such items as monthly bills, medications, or other items. There are no restrictions as to what you can use the money for.
The reverse mortgage gets paid off when the house is sold and not until the last owner dies.
If you qualify for chapter 7 bankruptcy, you can first get all your unsecured debt forgiven and discharged in bankruptcy before you get your reverse mortgage. Then you stay in your home the rest of your life and never again have to make a mortgage payment or a credit card payment.
The older you are, the more money you can borrow from the house. It’s better to live in comfort and dignity than to be a burden on your children.
Your children are probably more concerned with your happiness in your old age than with a little larger inheritance they’d get when you are gone.
Or at least they should be.
LANDLORD TENANT HOLDOVER (EVICTION) ACTIONS
Thomas M. Denaro represents landlords who need to evict troublesome holdover tenants and he represents holdover tenants who need protection from their landlords.
There are 2 ways to evict a tenant: either under a non-payment action or under a holdover action. When there is no longer any lease in effect or if there never was a lease, in a house of 6 families or less, the landlord may bring the tenant into court to regain possession of the apartment even if the tenant is current with the rent. The landlord does not have to justify his need for the possession of the apartment.
Both landlord and tenant have their rights under the law. If the tenant is current and remains current with the rent, he can stay in the apartment for up to 6 months while he tries to relocate. But a holdover tenant can be evicted from the apartment if he doesn’t stay current with the rent or if he can’t find a new place after 6 months.
Upon eviction, a NYC Marshall can give possession of the apartment to the landlord, change the lock, inventory the tenant’s belongings and have them stored for one month.
Don’t go it alone. Call an experienced landlord tenant holdover attorney.
Contact an Attorney
Thomas M. Denaro was a tile closer before he entered law school, continued to represent tile companies at real estate closings all during law school. He was thus able to launch his private practice 34 years ago representing sellers and buyers of real estate
Thomas M. Denaro’s knowledge of RE law, bankruptcy law, wills and estates law, landlord tenant law and foreclosure law make him an ideal choice for your legal representation if you are selling or buying a coop, condo, 1 family or 100 family dwelling. He can also offer reasonable payment plans and fixed fees for certain cases. Call Thomas Denaro today at 718-863-6000.