Alferes Realty, Inc - Alferes Realty, Inc



Posted by Alferes Realty, Inc on 12/12/2017

This Single-Family in Mattapoisett, MA recently sold for $231,000. This Cape style home was sold by - Alferes Realty, Inc.


7 Henshaw Road, Mattapoisett, MA 02739

Single-Family

$239,900
Price
$231,000
Sale Price

5
Rooms
3
Beds
1
Baths
Crisp Beach Cottage close to Crescent Beach! Back on the Market and freshly updated! Enjoy year round living in this charming 3 bedroom, 1 bath ranch style home located within easy walking distance to the beach in Mattapoisett! Featuring a welcoming front deck, large sunroom and living room with brick fireplace. Large back yard features privacy for cookouts and dining on the rear deck. A shed provides storage space for lawn equipment and beach chairs. No Flood Insurance on the property. Some updates needed. Have the Cape Cod experience without the hassle or the traffic!

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Categories: Sold Homes  


Posted by Alferes Realty, Inc on 12/12/2017

Thereís numerous reasons why the name on a title to a home may not be the same as the name thatís on the mortgage loan. These reasons include:


  • Only one buyer had stable credit
  • Only one person was on the loan application
  • One person was released from the mortgage


No matter why this is the case, having your name on the mortgage but not on the title to a home can affect you and people residing in the home in different ways. 


Why Would Only One Name Be On The Mortgage?


If people are looking to get a home or refinance a home, but only one person has good credit a decision must be made. For the best possible mortgage rates, youíll want to person with the best credit to be the primary loan holder. This may mean that you need additional legal documents in the process.  


The person with lower credit may still be able to have their name placed on the title to the home. Anyone who plans to contribute financially to a home, even if not on the mortgage, should place their name on the title. This would be one instance when a name would be on the title to a home and not on the mortgage loan. In this case, a person has property rights, but no legal-financial responsibility to the home. Itís important to agree on the home arrangement that youíre considering. This would be done through a will or a legal contract. This way, all parties are protected in regards to the ownership of the home should something happen to the individual whose name is on the mortgage.


Legal Things To Consider


Those who are listed on the mortgage are the people who are responsible for house payments. If a personís name isnít on the mortgage, it doesnít release them from complete responsibility from the home. If your name is on the title to the home but not on the mortgage, the bank generally has first dibs on the home if thereís a lapse in payments. If you want to keep living in the house, youíll have to keep making payments on the home. If you canít make the mortgage payments, youíll risk going into foreclosure. 


Taxes


An issue that can come up if your name is not on the mortgage is that you cannot use the home youíre living in as a tax deduction. Even if you make payments on the home, in order for you to get tax benefits, your name must be on the mortgage stating that youíre legally responsible for the home. If you are paying for the mortgage because your name appears on the title to the home, you arenít legally entitled to pay, giving away your rights to tax benefits. If youíre married, filing jointly, and only one name appears on the mortgage, however, you can use this as a tax deduction. This becomes an issue if two unmarried people buy a home together.  


Ask For Legal Assistance


Whenever you have an issue with the title of your home or with names on the mortgage, itís good to consult legal counsel. The attorney can assist you in determining who is legally responsible for the home and if the people listed on the title of the home are correct. This can help save you from trouble at a future date.


Since credit scores and loans can get messy at times during the home buying process, itís good to understand all the implications of home mortgages and titles.




Tags: Buying a home   Mortgage  
Categories: Uncategorized  


Posted by Alferes Realty, Inc on 12/11/2017

This Single-Family in Mattapoisett, MA recently sold for $160,000. This Cottage style home was sold by - Alferes Realty, Inc.


139 Fairhaven Road, Mattapoisett, MA 02739

Single-Family

$195,000
Price
$160,000
Sale Price

7
Rooms
3
Beds
2
Baths
Here an opportunity to renovate and still yield positive home equity. This Mattapoisett home consist of 1450sqft which includes 7room, 3 bedroom 2 full bathroom, 1 car Dechach garage/shed, Situated on a 12,971sqft lot. Priced at $195,000 (R209)






Categories: Sold Homes  


Posted by Alferes Realty, Inc on 12/11/2017


3 Spruce St., Fairhaven, MA 02719

Single-Family

$205,000
Price

2
Rooms
3
Beds
1
Baths
FAIRHAVEN- Large home, 3 bedrooms, 1 bath, recent addition of large cathedral eat-in kitchen & spacious 2 car garage with second floor workshop, good size fenced in yard, needs roof and some repairs. $205,000 (R197)
Open House
No scheduled Open Houses

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Categories: Price Change  


Posted by Alferes Realty, Inc on 12/8/2017

This Single-Family in Fairhaven, MA recently sold for $479,000. This Colonial style home was sold by - Alferes Realty, Inc.


121 Chestnut Street, Fairhaven, MA 02719

Single-Family

$479,900
Price
$479,000
Sale Price

9
Rooms
5
Beds
3/1
Full/Half Baths
Fairhaven Center-Beautiful colonial located close to the historic center of town, bike bath & beach. Pride of ownership shines throughout this wonderful family home. Gleaming hw flrs, gas fp, in a warm and inviting familyroom. Large 2 car garage. $479,900 (R203)

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Categories: Sold Homes  




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