Home Ownership: Determining Your Borrowing Capacity

Home Ownership: Determining Your Borrowing Capacity

By Brian Figeroux, Esq. Embarking on the journey of homeownership is a significant milestone, especially in New York State’s dynamic real estate landscape. Understanding how much you can borrow is a crucial first step in this process. This guide outlines the steps to assess your borrowing capacity and navigate the home-buying process effectively. Step 1: […]

Reverse Mortgages in NYC

Reverse Mortgages in NYC

A reverse mortgage is a financial product that allows homeowners, typically aged 60 or older, to convert part of their home equity into cash while retaining ownership of their property. This option can be particularly appealing to seniors who are “house rich” but “cash poor,” providing them with additional funds to support their financial needs. […]

Boomers Beware: The Hidden Risks of Using Home Equity to Pay for Long-Term Care

Boomers Beware: The Hidden Risks of Using Home Equity to Pay for Long-Term Care

For many baby boomers, retirement and aging bring significant financial considerations, particularly when it comes to long-term care. As healthcare costs continue to rise, some retirees look to their biggest asset—their home—as a financial resource. Using home equity to pay for long-term care may seem like a viable option, but it carries serious financial and […]

How to Use Home Equity If You Have To: An In-Depth Analysis

How to Use Home Equity If You Have To: An In-Depth Analysis

As older adults navigate financial planning, one of the most significant assets they own is their home. In situations where additional funds are needed—especially to cover long-term care costs—home equity can be a valuable financial resource. However, accessing home equity requires careful consideration, as different financial products come with varying risks and benefits. The three […]

Tax-Smart Investing: Strategies to Minimize Tax Liabilities and Maximize Investment Growth

Tax-Smart Investing: Strategies to Minimize Tax Liabilities and Maximize Investment Growth

Investing can be a powerful way to build wealth over time, but one often overlooked aspect of successful investing is managing taxes. While it’s impossible to completely avoid taxes, there are tax-smart strategies that can help reduce your overall tax obligations and maximize your investment returns. With proper planning and knowledge, you can minimize tax […]

Chapter 7 vs. Chapter 13 Bankruptcy: How Life Circumstances Affect Your Decision

Chapter 7 vs. Chapter 13 Bankruptcy: How Life Circumstances Affect Your Decision

By Brian Figeroux, Esq.  In today’s economic climate, financial instability is a growing concern for many individuals. Rising costs of living, inflation, job loss, and personal hardships such as divorce and broken relationships can lead to overwhelming debt. When financial obligations become unmanageable, bankruptcy may be the best solution for a fresh start. However, choosing […]

The Step-by-Step Process of Tax Planning and the Importance of Hiring a Tax Specialist

The Step-by-Step Process of Tax Planning and the Importance of Hiring a Tax Specialist

By Brian Figeroux, Esq.  Tax planning is a critical financial strategy that allows individuals and businesses to minimize their tax liabilities while remaining compliant with tax laws. Effective tax planning ensures that taxpayers take advantage of deductions, credits, and exemptions, leading to significant savings. Many people make the mistake of handling their taxes on their […]

How Estate Planning Can Give You Peace of Mind

How Estate Planning Can Give You Peace of Mind

Estate planning is crucial in securing your financial future and ensuring your loved ones are cared for after you’re gone. While many avoid thinking about it, creating a well-thought-out estate plan can provide peace of mind for you and your family. It allows you to control your assets, ensure your wishes are followed, and reduce […]