IN THIS ISSUE:
- A Message From Kane Title Services
- KTS Opens New Location
- HUD Update
- RI Taxes
- Industry Events
We would like to thank our clients for their continued loyalty
and faith in our service. We remain committed to providing all of
our clients with the highest level of customer service. This means
returning all of your phone calls, performing closings that are
convenient for you and your client, and most importantly, treating
you with the highest level of professionalism and respect.
Very Truly Yours,
Jason Kane
P.S. Thank you to all of the contestants who entered the previous
newsletter's trivia contest. There were 2 winners. Congratulations
to Michael Movsovitz of WAMU
& Jefferey Desrosiers of the Mortgage Corner.
Last Question: Which patron on the TV show "Cheers" had a key to the
bar?
Answer: Norm
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We are excited to announce that on April 1st we will be opening a
satellite location on Route 1 in Plainville, Massachusetts.
Plainville is located in Norfolk County, approximately 10 minutes
north of North Attleboro. This is one of the fastest growing areas
of real estate development in Massachusetts. Our new location will
enable us to better serve our clients in Bristol County, Norfolk
County, and the South Shore of Boston.
The office is conveniently located minutes from both Routes 95 and
495.
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The US Department of Housing and Urban Development has issued a
proposal, which would require that all FHA mortgages on condominiums
escrow condominium fees. The reason according to HUD is that several
states have enacted laws granting condominium association’s a lien
for non-payment of association fees that takes priority over the
FHA-insured mortgages.
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We have noticed that many RI realtors have concerns regarding
property taxes at closing. The most common question is why is the
Seller giving a credit to the buyer for unpaid taxes, when the
Seller has paid all of the property tax bills that he has received?
Without getting long winded and making things overly complicated, RI
taxes are paid in “arrears.” This means that in many cases the
property tax bills aren’t sent to the property owner until 3-6
months after the calendar period has elapsed.
For example, you may receive a property tax bill in June of 2005 for
the 4th quarter of the calendar (period ending December 31 2004).
Therefore, although you are up to date with your tax payments, there
may be six months of unpaid taxes for which you have not yet been
billed.
For any questions, please contact us: (401)384-6892
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Upcoming Industry Events
Networking Event
April 14th 2005 - Massachusetts Mortgage Bankers Association
Location: F1 Boston/Braintree
Loan Officer University Day 1
5/2/2005 - 5/2/2005
This comprehensive 3-day seminar is a must for every new loan
processor and loan officer. Mary Kay Scully will walk you through
the entire loan process and provide e-business training. The program
is designed to increase your productivity.
Details: Members $275, Non-Members $325. Breakfast and lunch are
included each day.
Location: Marriott Hotel, 1 Orms Street, Providence, RI
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