November 2012

Found 5 blog entries for November 2012.

Assistance with federally backed home mortgages announced.

home_in_eltingville_400If you have fallen victim to Hurricane Sandy and have a mortgage loan that is backed by Fannie Mae, Freddie Mac, or the Department of Housing and Urban Development (HUD) there may be help for you.These three programs have put together some ways of helping you with your mortgage while you repair or replace your home, due to the damage from Hurricane Sandy.

For those of you who have a Freddie Mac backed mortgage, here are some options they are putting out for you, but it is case-by-case. Freddie Mac is waiving late fees and penalties and will either bring down the amount of your payment or let you not pay it for up to 12 months. They will put off the foreclosure of your home or the eviction

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If your property received an extensive amount of damage due to Hurricane Sandy, you may qualify for the Casualty Tax Deduction. I know, it sounds great, right?  Well, as with most good things, there's a catch. There's a lot of work that goes into the process and there are limitations.


damaged_roof_Hurricane Sandy Staten IslandAccording to the Internal Revenue Service, "a casualty is the damage, destruction, or loss of property resulting from an identifiable event that is sudden, unexpected, or unusual." Included among these events are earthquakes, floods, mine cave-ins, sonic booms, storms, and vandalism.

There are two types of casualties: those which occurred in a federally declared disaster area and those which did not. The State of New York was declared by the president as a disaster area.

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goodall_st_flooding_in_great_kills_400Homeowners insurance policies come in all types of packages and have different coverages. Since there are different packages and policy types, we are going to show you what the standard homeowners insurance covers. (This is not a full list of coverage; check your own policy to see what is covered.)


Standard homeowners insurance should cover:


• Fire, lightning, windstorm, hurricane, hail, weight of snow or ice, falling objects, and vehicle or aircraft damage to your home

• Burglary, theft, vandalism, malicious mischief, and glass breakage

•Explosion, riot commotion, and civil commotion

• Water from or freezing of plumbing systems, electrical damage to appliances, electrical wiring, and water heaters or heating system breaks

• Detached garages,

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To the west of Father Capodanno Boulevard and located right next to Ocean Breeze Park, there is a small wetland that south_beach_wetlands_400is about 5 acres in size called South Beach Wetlands. This wetland became a part of the New York City Department of Parks and Recreation in December of 1999 and was named after the neighborhood in which it is located, South Beach.

Although this may not be a regular park that you would take your children to, it is still an important part of Staten Island. The South Beach Wetlands is one of the many parks on Staten Island that is more of a nature preserve, even though it may not be classified as one of the Forever Wild Nature Preserves. This park has been left to its own devices and is made up of marshy areas--as well as forest and

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hurricane_sandy_goodall_400On Saturday, October 29th, President Obama signed a Major Disaster Declaration for New York in Hurricane Sandy's aftermath.  In order to assist those whose homes were damaged from Hurricane Sandy, the Federal Emergency Management Agency is willing to provide these victims with temporary housing.

To qualify for assistance:

  • Your property must not be covered by your insurance
  • You or someone you live with must be a citizen of the United States, a non-citizen national, or a qualified alien
  • The damaged home must be your primary residence or the residence in which you reside for the majority of the year
  • You must not be able to reside in your home at the present

Normally, you will not qualify for disaster assistance if you have insurance. 

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