If you’re a NYC homeowner, you may find this post useful. As with every month, below is a list of some good reads and articles that we came across this month. The first one is related to PMI (Private Mortgage Insurance) and how you can get rid of it if you’re still paying it; The second one is related to Housing issues and Home Loan options for seniors; And the third one is related to the GrowNYC Compost Program which is a great way to help the environment with your food scraps.
If you have any questions or need any real estate advice, Contact Us anytime.
How to get rid of your PMI
We recently came across a homeowner who found out that they could get their PMI (Private Mortgage Insurance) knocked off as long as they had 20% equity in their home. All they had to do was get an appraisal done and then submit it to their bank. They got their PMI taken off and that led us to think that some other homeowners out there may also have PMI and may not know how to get rid of their PMI. So, below is a link to an article which explains your options for eliminating your PMI. Feel free to take a look and let us know if you have any questions. If you’d like to know whether you have 20% equity in your home, let us know and we’d be happy to send you recent sold comps for your property.
https://www.bankrate.com/mortgages/removing-private-mortgage-insurance/
Housing and Home Loan Guide for Seniors
We recently took a continuing education class related to seniors, their most common housing issues as they get older, and what options are out there for them. We then found a good article which talks about common mistakes seniors make, benefits of downsizing, various types of mortgages available to seniors, what a reverse mortgage is and how to use it, and how seniors can protect themselves from predatory real estate professionals and scams. If you or someone you know is in this position, this is definitely worth a read or share.
https://www.mortgageloan.com/seniors
GrowNYC Compost Program
We recently received a question from a local neighbor who was curious how they could go about composting their food scraps and in doing some research, we found that NYC actually has an organization called GrowNYC which is a composting program dedicated to making composting second nature for New Yorkers. So, in case you’ve been wondering the same thing, or if you’d like to learn more about the GrowNYC program, check out the link below.
https://www.grownyc.org/compost
Have you checked out our podcast recently? If not, check out one of our recent episodes. We’ve been covering some topics related specifically to NYC homeowners so you may find it interesting, and hopefully entertaining 🙂
