East End, Long Island Jumbo Mortgages Return
April 7th, 2009 category: Real Estate News
As jumbo mortgage opportunities return to the marketplace on the east end of Long Island (North fork, Hamptons), coupled with low interest rates, perhaps we’ll see a kick start with some upper end properties that have remained available, yet offer a better value than in years past:
While this is great news, discussing with your lawyer verbiage in any offer that permits an “out” in the event that a lender is unable to close the loan is worth pursuing. Mortgage contingencies are standard fare in many states; no reason to gamble with events outside of your control.
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