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Article: Coping with taxes: some lenders see trouble with mortgage fee increase.(Focus: banking and finance)
- Article from:
- Westchester County Business Journal
- Article date:
- February 23, 2004
- Author:
CopyrightCOPYRIGHT 2004 Westfair Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Some people might have to wait a little longer to become homeowners in Westchester County and others may postpone buying furniture or remodeling a new home as a result of the increase in the mortgage-recording fee, some county lenders say.
Bill Cuevas, branch manager at Myles Mortgage Services, a mortgage broker in Elmsford, said many of his customers already are hard-pressed to scrape up enough money for a down payment. "People work very hard for their money," he said. "I see it."
"The first-time home buyer is working so hard to save the money to buy the house, they're mentally calculating buying the house, then they're contemplating buying furniture, ...