Real Estate

http://www.greaterbatonrougerealestate.tv/ – Denham Springs Louisiana Real Estate New Condo Development Video Update For Magnolia Landing Condos

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I moved into a new condo in January and my neighbor moved in the following month. She used to work in the sales office that sold my condo. She seemed pretty excited about being next door to me before she moved in. I thought it was pretty odd that she did not come by when she first moved in, but I just figured she was getting settled in. When I did see her in the hallway, she was like hey come over anytime and we can have a beer and I my even cook for you. I did visit her twice for maybe a grand total of 20 minutes for both visits. After that, it seemed like when I went to visit, she would always have something to do. One time the weather was getting bad (heavy rain) and her excuse was that her father had a private plane and they were going to fly someplace. Other times, I had a feeling that she knew I was outside, but did not answer the door. So I made a decision not to visit her. Well months went by and one day I saw her in the hallway and she asked why I had not visited her. I told her that I was busy and also thought that she had a significant other. She told me that she never had a boyfriend since she moved in and that I was welcomed anytime. Well I waited about two weeks and I stopped by to visit. She opened the door halfway and asked what did I want. I said that I stopped by to visit. She told me that she just woke up (it was 5 in the evening) because she was sick and had a high fever. She told me that she would call me, but she does not have my phone number. I was a little mad, but I just smiled and left. Is she telling the truth? Why is she inviting me and she is always busy? Also, she has never come over to visit me. She came by once to borrow the trash chute key. I did extend an invitation to her to visit.

It sounds like she doing her best to be friendly when she see’s you, but when you take her up on her offer to stop by she doesn’t want to be bothered. I wouldn’t bother her anymore she sounds like a odd ball.

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My mom died in December.
Her SchwabbOne account has a $50,000 margin account,
where she borrowed against her securities to buy a new condo to live in.
The financial advisor, who set up the Schwabb account, says that an estate cannot have a margin account, and it must be extinguished now by selliing stocks & securities.

I’m the executor, and would like to let it ride, as now is not a good time for a forced sale. Technically, I know nothing of applicable law or regulation.

If you can support my position of not selling, citing law or regulation would be helpful.

Thanks!
Perhaps some more details will clarify:
* there are sufficient assets to extinguish the debt
* the account is paying interest on the margin account.

I’m not suggesting that it not be paid.
I want to be clear on the law and regulations:
Can an estate have a margin account or not?

I’d rather that the estate paid off the margin account later, rather than sooner.
While I appreciate the answers, I am advised there is an SEC regulation governing this, and forcing the liquidation.
Thanks, all.

donfletcheryh: you spent your ENTIRE answer contradicting YOURSELF. bab’s HAS advice from the broker (that would be Schwabb). They DO have assets in there possession to sell (the margin account.) And YES, they can sell the collateral to recover the debt owed them. This DOES NOT vary by jurisdiction.

Ok, here’s the scenario. I hired a realtor to sell my condo, with the understanding that once it sold, I would use her as my realtor for the purchase of a new condo or house. I would not even consider looking for something new however; until after the condo sold. I also told her that I could NOT lose any money on this transaction – the sale price would have to cover the two mortgages, realtor commissions, and fees.

To make a long story short, I felt as if she hasn’t been on my side since the get go. The first bid was over 10% less than my asking price, and she was pressuring me very hard to accept it. I would have lost $8,000 has I listened to her. I didn’t, held out, and got close to my asking price.

At any rate – am I obligated to use her for the purchase of my new place? I did sign a paper saying I would. I do not have a new place at this time, but I’m so fed up with fighting her at every turn – it makes the whole process even tougher. Advice anyone?

Yes you can fire her! Each state has it’s own rule on terminating her contract. If you are in Texas all you have to do is give her notice of termination in writing, that you no longer what her to represent you. Be careful with the new Realtor because there is usually a grace period that states if you find a property within that time frame (usually 10-15 days) and she can prove that she was the procurer of that purchase she can still claim that commission. What state are you in? I can try to research for you that law.

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what is so bad about harlem, you just hear people talk badly about it and i was looking online and saw beautiful condos for sale there. so whats the real deal about it?

and which is worse, harlem or the bronx?

nothing is wrong with Harlem… Just avoid Spanish Harlem at night

But the main strip of Harlem 125st is active and there is a lot to do. They have many big name stores like Champs, H&M, and Gap….

The bad rep comes from the 80’s when Harlem was a dangerous place. Now its fine…

Bronx is worse…. not in terms of safety or anything, just nothing to do in the Bronx… i lived in NYC for 8 years… I went to the Bronx once.

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How can I report abusive lender/loan broker and to who do I make this report to? I closed on a brand new condo in January 2007. However at closing i got surprised with new interest rate and monthly payment. I’ve been trying to hang in there but really difficult. I spoke with my mortage lender today only to find out more additional things aobut my loan that will make re-fi and sale very difficult for me. In other words.. unethical practices and no one had my best interest. This was my first home purchase and I’m overwhelmed and don’t know what to do? I feel like I’ll be the next person to foreclose because I cannot keep up with the mortage payments & taxes. Again, I got surprised at closing and felt pressured not to mention I had already moved on the property into a model home. So yes I did sign the paperwork and accept my loan. However I know there is something very wrong here. I appreciate any advice.

As much as I realize that there are very unethical lenders out there, I also do have to say that YOU had the right to get yourself educated about what you were doing before you signed any of the papers, and I hope that you had an attorney, but it sounds like they may have been less than professional in ficilitating their duties to you. When you close on a purchase mortgage, you usually have to make 12 payments before any lender will consider a refinance as they want to see a 12 month mortgage history. If you pay late (past 30 days or more) in that time frame it will only make it harder for you to refinance. Some lenders have 6 month seasoning as opposed to 12 months, but the problem with that is that they won’t let you use a new appraisal, they will use the original purchase price. You also need to see if the lender who closed your loan put on a pre-pay penalty as that will increase the amount you would be responsible to pay back in a refinance. Every borrower needs to educate themselves about what they are doing. You can’t just trust that the lender is going to do the right thing by you, you have to empower yourself and take control. Your attorney who you paid for a service is also supposed to be on your side, and if things were that incorrect at the closing, keeping your mouth closed was the worst thing you could have done. Even under contract, the borrower would have had to have waited for you to get things back on track. You are the only one who has to keep your best interests at heart. That means doing the right thing for yourself, and not blaming other people. There is so much information on the internet todat that it is almost impossible for me to do mortgages for people who don’t already think they know more about my job than I do. Your choices seem slim, just keep paying that mortgage for 12 months, get a second job if you have to, and then try to refinance or sell it. Next time, read a little, ask a whole lot of questions, and make sure you know how to protect yourself, because no one else will do it for you.

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