Buyers Want Your Home for as Little as Possible.
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Englewood is a city that features a diverse style of homes, which include stately mansions on the East Hill, Colonials, Cape Cod starter homes and a luxury townhouse complex near Route 80. Englewood is primarily a residential community, although a large industrial area occupies the southern end of town. A large retail district runs through the center of town and features upscale specialty shops.
Englewood's population is far more diverse than that of most suburbs, including many of its Bergen County neighbors. Occupations range from highly paid professionals to unskilled trades. Due to the proximity of New York hospital and the ever-expanding Englewood Hospital and Medical Center, doctors abound. There are also many lawyers, business men and women, engineers and professors, we well as a number of artists, musicians and entertainment and sports figures. The city boasts the 1,400-seat Bergen Performing Arts Center which presents a broad range of celebrity performers, music, theater, dance, comedy, holiday shows and children's entertainment.
Rich in history, the town has been home to many famous people including Charles Lindbergh, the writer Upton Sinclair, the legendary coach Vince Lombardi and more recently, John Travolta and Eddie Murphy. Buses run to New York City via George Washington Bridge and to Port Authority in midtown Manhattan from 5AM to 12:30AM
Although it is designated a city, Englewood has a one hundred and fifty acre Nature Center which is open to the public year-round.
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Financing Your Home >Mortgage Fears
It is not unusual for home buyers to feel that the lender is being very critical during the loan approval process. The buyer is required to provide all kinds of financial information, and then the lender asks for more. If this is your experience, and the process seems discouraging, remember that none of this is personal!
Some lenders have more stringent requirements than others, but every lender requires a substantial amount of documentation on a mortgage loan. They must verify employment, credit history, and recent financial transactions involving your liquid assets. If your Visa payment was late, they may ask for a letter explaining why. If you are self-employed, they will ask for tax returns from at least three years and probably a year-to-date profit and loss statement.
Government regulations require mortgage companies to document everything. And while the loan officer may know that you are a reliable risk, the underwriters must be able to defend the loan to a federal bank examiner or auditor.
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| Q |
Nearly every state has a mandate for seller disclosure. What must a seller disclose?
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| A |
The seller must disclose any existing problems, defects or conditions that could affect the value of the house.
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