Author Archive | Michael Menicucci

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The Most Important Components of an Estate Plan

The Most Important Components of an Estate Plan Estate Planning Lawyers New York. An estate plan need not be complicated, but it is something everyone should have. Each individual’s estate planning needs may differ depending on their assets and family situation, but all New York estate plans should contain at least four components: A last […]

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Fannie and Freddie will Remain Under Government Control for Now

In October 2015, White House officials rejected proposals to release government-backed lending enterprises Fannie Mae (The Federal National Mortgage Association) and Freddie Mac (The Federal Home Loan Mortgage Corporation) from federal control. The companies have been operating under a conservatorship by the Federal Housing Finance Agency (FHFA) since 2008 as a result of the subprime […]

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New Rules Require full Disclosure from Shell Companies Buying Condos in New York

In May 2015, NYC Mayor  De Blasio’s administration passed new disclosure requirements for “shell companies” seeking to purchase condominiums in New York City. These requirements are meant to increase transparency in the real estate industry, , which previously allowed for individuals to use shell companies to make expensive real estate purchases, and to own property, almost […]

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Underwater Mortgages Hit New Low

This year, the number of equity rich properties in the United States hit a new low, while the number of properties considered to be “underwater” on their mortgages has hit a plateau. In New York, the current number of equity rich properties, or properties where the owner has paid off at least 50 percent of the property’s […]

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