Author Archives: Paul H. Begemann

FHA AND CONFORMING LOAN LIMITS INCREASED FOR 2020

  Both the Department of Housing and Urban Development (HUD), for FHA loans, and the Federal Housing Finance Agency (FHFA), for conforming loans purchased by Fannie Mae and Freddie Mac, have announced increases in the applicable loan limits for 2020. We wrote about the loan limits applicable in 2018 in this blog post [Read More]…. Read More »

END OF THE YEAR PLANNING

As we near the end of the calendar year, many people start to think about taking stock of some of their personal affairs and thinking about planning for the future. Here are a few pointers for you to consider: Do you have a Last Will and related planning documents? When did you last update them… Read More »

OPPORTUNITY ZONES – AN UPDATE

Opportunity Zones were implemented as part of the 2017 revisions to the Federal tax code, and are designed to stimulate investment in lower income or lower opportunity areas of the country.  My prior blog post discusses the basic concept of the Opportunity Zones, and there have been significant developments over the past year. Each state… Read More »

HUD CONTINUES TO EASE ACCESS TO FHA LOANS FOR CONDO PURCHASERS

The United Stated Department of Housing and Urban Development (HUD) administers the mortgage loan program offered under the Federal Housing Administration (FHA). FHA loans are generally easier to qualify for than conventional loans, and require a lower credit score than most conventional loans. FHA loans also only require a 3.5% down payment, a portion of… Read More »

WIRE FRAUD – STILL A MAJOR CONCERN

  We have previously written about the dangers posed by wire fraud, especially as related to real estate closings (Read More Here). In spite of the passage of two years since our previous blog post, the danger posed by wire fraud is still prevalent and may even be growing. A recently reported event involved a… Read More »

PLASTIC BAGS IN CONNECTICUT – NEW LAWS IN PLACE

The ubiquitous plastic bags used by a wide variety of retail, food service and other businesses in Connecticut will soon be undergoing big changes. There is a new law on the state level, and also action in a number of local communities concerning single-use plastic shopping bags. The proponents of restrictions on plastic bags argue… Read More »

NEW LEGISLATION REINFORCES ATTORNEY ROLE IN CONNECTICUT REAL ESTATE CLOSINGS

Using an attorney to perform real estate closings is the norm in Connecticut, and many people assume that this is the case everywhere in the United States. However, in about half of the states, an attorney is not typically used by local custom, and the use of an attorney is required by law in only… Read More »

ZONING VARIANCES IN CONNECTICUT

Each Connecticut town has adopted their own individual set of zoning regulations, in compliance with state statutes. These zoning regulations generally divide the town into zoning districts, and then state what uses will be allowed in each district (residential, commercial, etc.), as well as the building characteristics allowed, such as provisions for building height, setbacks,… Read More »

ENFORCEMENT OF AUTOMATIC RENEWAL CLAUSES IN CONNECTICUT CONTRACTS

Many individuals are not aware that in Connecticut there are various laws designed to protect a consumer from the enforcement of certain contract terms. One situation where a consumer may face a risk from the enforcement of unreasonable contract terms is regarding automatic contract renewals. Often a consumer will agree to a contract for a… Read More »

TIME TO CONSIDER REFINANCING YOUR HOME MORTGAGE?

According to recent news reports, interest rates on home mortgages have dropped down to their lowest rates in the past year (See More).  In addition, home values have generally been rising. These two factors may mean that it is a good time to investigate the benefits of refinancing your home mortgage. A refinance involves getting… Read More »

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