Morning Bulletin: Flower Flash, Tennis Star, Gale Brewer Nearly Lost Her Home
Photo by Robyn Roth-Moise.
May 13, 2019 Weather: Rainy, with a high of 50 degrees.
Notices:
Concerts, readings and many other local events are on our calendar.
The “flower flash” above was done by Lewis Miller Designs in Central Park. The flower shop has struck before in the neighborhood.
News:
Joanna Nieh, a 17-year-old with spina bifida, has excelled on the tennis courts at Riverside Park. “Joanna started playing tennis 11 years ago. Through practice six days a week, she’s become an ace, playing in tournaments, most recently in France. She’s now ranked number three in the world among girls in wheelchairs. She also competes for her high school’s varsity tennis team, usually against players who are not disabled.”
Gale Brewer nearly lost her UWS home due to a foreclosure case. “A lack of money was not to blame, said the Democrat, who made $179,200 last year. Instead, the drama started with Brewer’s well-known stubbornness. ‘I wanted to pay my own taxes and they wouldn’t let me,’ she said, referring to Ocwen, the Miami-based company that handled billing on the couple’s mortgage.”
The city is vaccinating some raccoons in northern Manhattan parks after some raccoons were found to have rabies.
Jayson Greene, the father of a little girl who died after being hit by a brick from a UWS building in 2015, has written a book.
Mortgage Servicing Companies bundle the Property Taxes together with the Mortgage Payment for their benefit.
A Mortgagee is less likely to skip a payment if that means going into arrears for the mortgage.
And, as so much Financial Foolery, it makes it harder to know what you are paying each month towards your mortgage.
I appreciate Brewer’s efforts to stand up for what she believes in but not paying your mortgage and then not going to your court dates regarding this is not the proper way to handle the situation. One would think that as a public official she would know better.
Gale Brewer must’ve bought stock in WSR 😉
Or, since she’s the Manhattan Borough president and the West Side Rag covers local politics…
You see where I’m going?
Interesting. I just dont get it.
According to:
http://www.freddiemac.com/pmms/pmms30.html
the average 30 year mortgage rate in 1996 was 7.8%.
They progressively decreased. In 2013 the rate was 3.98%
My question…. why not simply refinance to a bank of ones choosing for a significantly lower rate to save money (and mental distress).
just sayin’
You don’t get to pick your servicer. The mortgage company does that. Ocwen is the servicer here, some securitization trust is the owner. You could refi and still be stuck with Ocwen, which serves many loanholders.
The payoff was 460,00+. With a mortgage that high, I think banks would clamor for refi…. and many NYC banks keep those mortgages in house… I know they do for mine, first Merrill Lynch, then BOA.
Also ,I believe a mortgage that “small” relative to the value of the house (easily 5Million) would not require escrow for real estate taxes.
You may be getting “white label” service (servicer uses the name and address of the company it works for in interacting with their customers) without even realizing it.
I’ve never agreed to escrow my taxes. Have always preferred paying them myself at the end of the year, so that I get the float on the money that would otherwise go to the mortgage servicer each month. I’ve never had an issue with it and didn’t know some servicers don’t allow it.
I have seen more coyotes than opossums this year in Central Park.
The “flower flash” is beautiful!! Thank you, Lewis Miller Designs.