Homebuyers

Be Equity Smart 5 Money-saving Tips for First-time Homebuyers

BY WAYNE JORDAN

Are you in the market for your very first home? If so, congratulations! Buying a home is an exciting milestone in anyone's life. However, it can also be a bit daunting, especially if you're on a tight budget. Don't worry, this blog post will share five money-saving tips that will help you get into your dream home without breaking the bank.

Tip 1: Consider a fixer-upper If you're on a tight budget, consider buying a fixer-upper. Often, these homes are priced significantly lower than other properties in your area, which gives you more room to work with in terms of your budget. Plus, fixing up a home is a great way to learn about home ownership and add some personal touches to your new space. Tip 2: Shop around for the best mortgage rate When you're buying a home, it's important to shop around for the best mortgage rate. This will help you save money in the long run and reduce your overall borrowing costs. Talk to a few different lenders and compare rates before you make a decision. A fixed-rate mortgage will protect you from interest rate hikes down the road, and they tend to be much easier for first-time buyers to understand and vary little from lender to lender.

Tip 3: Get pre-approved for a mortgage It's important to get pre-approved for a mortgage before you start shopping for a home, so you will need to think about the financing upfront. This will give you an idea of how much money you can borrow and help you narrow down your search criteria. However, just because you can borrow say, $300,000, does not mean you should. Choosing a smaller and less expensive home will help you save money on things like property taxes and heating costs.

Tip 4: Consider buying a duplex or triplex If you're looking for ways to save money on housing, consider buying a duplex or triplex. These types of properties often offer lower monthly payments than traditional single-family homes. And, if you live in one unit and rent out the other unit(s), you can make a nice profit.

Tip 5: Be mindful of closing costs Closing costs can add up, so ask your real estate agent about any potential discounts or rebates available. You can always ask the seller to contribute to your share of closing costs, which will show as "seller credits" on the loan estimate form. If you don't have the cash available to pay closing costs, a noclosing-cost option may be an alternative if your lender offers it. This saves you the trouble of having to come up with the money upfront at closing. However, it ultimately will cost you more in the long run because your lender will absorb the closing costs in a higher interest rate.

Final words Hopefully, these tips help you save money when buying your first home. And, once you're settled in, be creative! There are lots of affordable ways to add some personality to your space without breaking the bank. For example, you could use temporary wallpaper, thrift-store and eBay finds, or even DIY projects. YouTube videos are a great way to learn new skills, and taking care of your own tiling, shelving, and carpentry can save you a lot of money.

We are happy to help and share our insight and experience to help you your homebuying process. Schedule an appointment today, call us at 888-670-6791. p

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32BJ SEIU Building Service Essential Workers Rally on Park Avenue, Call for a Strike

On Wednesday, April 13, an estimated 10,000 building services essential workers, including 32BJ SEIU members from New York to Washington, D.C. to Miami, rallied on Park Avenue with supporters to demand that the Real Estate Advisory Board (RAB) agree to a new contract for 32,000 porters, doorpersons, superintendents, concierges and handypersons across the city that includes fair wage increases, fully employer-paid health care for families and no givebacks after 32BJ members demonstrated their commitment and service throughout the two year pandemic. Building workers voted to give the bargaining committee the power to call for a strike, if they decide it becomes necessary. A strike, if one occurs, would affect over 3,000 buildings and 555,000 apartments citywide. 32BJ SEIU members were joined at the rally by elected officials and labor leaders including NYC CLC President Vincent Alvarez. 32BJ President Kyle Bragg said: “Healthcare is a cornerstone of 32BJ. It’s a strike issue. The building owners want us to take money out of our paycheck to pay for healthcare every month, whether we use it or not. We will not stand for premium sharing and we will not stand for anything that disrespects the time and work our members have given over the past two years. We’ve had to fight for every single thing we have in our union contract: paid days off, health care, workplace protection, a pension. This is no exception. We are thankful for the support of all our allies and partners as we fight for a just city and stand with us as part of that fight.” p

Photo courtesy NYC Central Labor Council

Brooklyn’s Green-Wood Cemetery Doubles as Training Ground for Aspiring Masons

Welcome to the Brooklyn classroom of 14 aspiring masonry workers: A 19th century mausoleum inside the serene expanse of Green-Wood Cemetery. The Bridge to Crafts Careers program offers its students a unique hands-on experience across a 10-week program where the participants receive training in masonry restoration and preservation at the 1850s-era gravesite of New York banker Isaac Newton Phelps. “I’m learning so much, and I never thought I’d see myself in a field like masonry,” said student Xavian Isaac, 21, of Queens. “But it’s honestly really eye-opening to see that I can do this type of work and that there is a place for me in this field.” The cemetery partnered with Opportunities for a Better Tomorrow, the World Monuments Fund, the International Masonry Institute and the Bricklayers and Allied Craftworkers Local 1 on the program where participants scale a three-tier scaffold constructed around the site. p

Photo courtesy NYC Central Labor Council

Support Theatre Workers Fighting for a Union Contract

Actors’ Equity Association, the national labor union representing more than 51,000 professional actors and stage managers in live theatre, has filed with the National Labor Relations Board to bargain on behalf of the actors and stage managers of the national tour of Waitress. This move follows a card campaign in which the workers demonstrated their desire to have Equity represent them. The card campaign was Equity’s first in more than a decade. “We are proud of the work we are doing bringing this wonderful show to audiences across the country,” said members of the non-Equity tour company. “But the work we do is the same work our friends in the Equity tour do, so we are asking our employers why we can’t be treated with the same respect. We have tried to work with management to improve our conditions on multiple fronts and have come to the conclusion that we need a union to work on our behalf. We now appreciate Equity helping us come together as a company and showing us a clear pathway to fair treatment.” “The stage managers and actors at Waitress know they deserve better,” said Al Vincent, Jr., executive director of Actors’ Equity Association. “Touring in a musical like this is extraordinarily hard work, and doubly so during a pandemic. These workers deserve a decent wage and safe working conditions, and it’s brave of them to take a stand and say so. This particular situation is especially egregious because of the existence of an Equity tour running right alongside them. That’s why Equity reached out to see if we could help. “It’s shameful that the nonunion production pays its workers a third of what the company of the Equity tour makes. And it’s galling that these employers have even used videos of the non-union actors to teach their roles to their union counterparts. Clearly, the workers in both productions are equally talented and hardworking, doing the exact same job for different audiences. For equal work, they should receive equal protections and equal pay.” For this card campaign, Equity organizers gathered authorization cards from a critical mass of actors and stage managers on the Waitress tour designating Equity to negotiate on their behalf with their employer. Equity has filed for an election with the National Labor Relations Board, and pending election results, can begin bargaining with NETworks.p

Local 802 Musicians Fighting for a Fair Contract

Musicians of the DCINY Orchestra, who are members of AFM Local 802, are taking a stand and letting the public know about their fight for a fair contract. The company has lost an Unfair Labor Practice charge for refusing to bargain in good faith and is threatening to replace the orchestra completely. p

NYC DOE Slow to Spend Federal COVID Stimulus Funds, NYC Comptroller Finds

New York, NY: New York City Comptroller Brad Lander released a spending update, which found that the NYC Department of Education (DOE) has been slow to spend federal COVID stimulus funds allocated for FY 2022. While reopening expenditures are largely on track, DOE is running far behind on programs in the critical areas of academic and instructional support, and social and emotional wellbeing. Nine months into the fiscal year, DOE has spent less than 25% of funds allocated in those categories. “Our students are counting on us to use this unprecedented influx of federal funding – all of it, not just a fraction – to deliver the academic and emotional support they need, as a result of two hard years of pandemic loss and disruption,” said Comptroller Brad Lander. “Our city cannot afford to squander this opportunity to invest in the programs and supports to help our young people begin to succeed again academically, process the trauma they’ve experienced, and address longstanding inequities in our school system. We still have an opportunity to spend this onetime funding wisely – but the clock is ticking.” On March 1st, Comptroller Lander unveiled an interactive public dashboard tracking the spending from FY 2022 onward of nearly $11 billion in Federal pandemic relief funding for New York City. Through FY 2026, the City’s federal pandemic aid is expected to total $26 billion. School spending is the largest category of federal funds, as DOE received $7 billion in total federal stimulus money through the Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA) and the American Rescue Plan Act (ARPA). In order to provide more detailed information, the Comptroller’s Office reached out to DOE to request budget and spending information for those funds allocated for FY 2022. Based on that data, the Comptroller today released an analysis comparing DOE’s October 2021 spending plan to its actual spending from the start of the fiscal year on July 1, 2021 through the first week of March 2022. To date, DOE has spent less than 50% of the funds allocated for FY 2022, and is not on track to spend the full amount allocated in the three months remaining in the fiscal year. According to the data, three-quarters of the way through the fiscal year, DOE has spent: •65% of $1.3 billion total for re-opening healthy and safe schools (including Summer Rising for the Summer 2021 year). •22% of the planned $984 million in Academic and Instructional Support, such as early literacy, college and career prep, and special education. •24% of the $274 million allotted for social-emotional wellness programs, including 5% of the $12 million for restorative justice programs. The Comptroller’s Office discussed the underspending with DOE, who provided the data and additional context regarding spending challenges, including pandemic related delays, hiring difficulties, and supply chain issues as well as long contracting and procurement processes. School systems across the country have been slow to spend federal COVID aid. DOE allocated on average $1500 per student with some variation between schools and districts, but the data does not show clear correlation of perpupil spending with student need. The DOE will be able to roll over unspent funds into FY 2023-2024, funding that could bolster current initiatives or could be redirected to other priorities. The Comptroller’s Office urged the agency to be more transparent with plans to use or reallocate funds and to set clear outcome metrics to ensure that critical federal stimulus dollars are being spent effectively and equitably and on the programs that best address the growth and wellbeing of NYC’s students. p

Comptroller Lander Editorial credit: rblfmr / Shutterstock.com

Legal Training Certificate Program for Shop Stewards & Union Members in the Health Industry

We believe an educated worker is an empowered worker. We want to help all workers to understand and advocate for their rights effectively. Our Legal Training Certificate Program provides the knowledge, tools and resources to do just that!

Mandatory Topics lIntroduction to Legal Research and Writing lIntroduction to Immigration Law lIntroduction to Personal Injury & Medical Malpractice Law lIntroduction to Social Security Disability Law lIntroduction to Labor Law: Your Rights in the Workplace lIntroduction to Legal Issues & Ethical Issues for Healthcare Workers lIntroduction to Healthcare Law Research lIntroduction to Wills, Trusts & Estate Planning lIntroduction to Workers’ Compensation lIntroduction to Employment Discrimination & Sexual Harassment lIntroduction to Labor Unions & Racism lIntroduction to Workplace Health & Safety Choose 3 Optional Topics lIntroduction to Contracts lIntroduction to Diversity, Inclusion & Equality lIntroduction to Podcasting & Newletter Development lIntroduction to Article 78 lIntroduction to CMS Guidelines & Medical Documentation lIntroduction to Bankruptcy & Taxation lIntroduction to Negotiation & Effective Communication lIntroduction to Civil Rights

Registration Fee: $550 (non-refundable)

PLUS: Mandatory Citizenship & Labor Issues Clinic

Presented by:

Take Action: Tell Condé Nast to Recognize the Condé Nast Union

Workers at Allure, Architectural Digest, Bon Appétit, Epicurious, Condé Nast Traveler, Glamour, GQ, Self, Teen Vogue, Them, Vanity Fair, and Vogue are uniting with one powerful voice. They have requested voluntary recognition of their union with the NewsGuild of New York, with a supermajority of support across Condé Nast. They're calling on Condé Nast to voluntarily recognize their union and begin negotiating with them without delay or division. Condé Nast has previously recognized their unionized colleagues at Ars Technica, Pitchfork, Wired, and The New Yorker. The union expects the same recognition as their peers at other publications. Condé Nast readers and members of the general public can help. p Met Orchestra Raises $17K for Ukrainian Opera Musicians

Musicians of the Metropolitan Opera Orchestra organized a fundraiser for the musicians of the National Opera of Ukraine in Kyiv. Along with a significant donation from the Met Orchestra’s Music Director Yannick Nézet-Séguin and donations from the Met’s music staff, the Met Orchestra raised $17,000 for the Ukrainian opera orchestra musicians. The idea for this fundraising effort came about during rehearsals for the Concert for Ukraine, a March 14 benefit concert produced by the Metropolitan Opera and conducted by the Maestro Nézet-Séguin. At the coffee break following an emotional rehearsal of the finale of Beethoven’s Ninth Symphony, the “Ode to Joy,” it became clear that the musicians of the Met Orchestra were deeply inspired to produce a gesture of solidarity and support for their Kyiv counterparts. p

Take Action: Petition to #SaveMyVA from AIR Commission Closures

On March 14th, VA Secretary Denis McDonough issued recommendations destined for review by the Asset and Infrastructure Review (AIR) Commission, a board created by the 2018 VA MISSION Act, a bill designed to promote vast privatization of VA healthcare. If approved, Sec. McDonough's recommendations would: •Close large segments of the VA health care system, including at least 17 integrated VA medical centers around the country including here in NYC •Destroy tens of thousands of union jobs in communities across the country •Deny veterans their preferred choice in health care providers Force our nation’s heroes to find their own care from a patchwork of for-profit providers VA leadership in Washington D.C. claims it has no choice but to follow the MISSION Act. This legislation dictates that they must close dozens of VA medical centers, clinics, treatment centers and nursing homes and drastically cut outpatient & inpatient services at hundreds of additional locations. It's time for VA workers, veterans, and all Americans to demand that our local, state, and national leaders put a stop to this assault on veterans’ care. It’s time to let the air out of the AIR Commission, halt the Senate confirmation of AIR commissioners, and repeal Title 2 of the MISSION Act. Closing VA facilities must be entirely off the table. Our promise to veterans will not be broken and this closure commission must be stopped. p

Housing Works Union Members Demand Fair Contract at Housing Works’ Annual Design on a Dime Event

Members of the Housing Works Union held a worker speakout across the street from Housing Works’ annual Design on a Dime fundraiser this week, highlighting the many issues that remain unresolved in contract negotiations. Since winning the vote to join the Retail, Wholesale and Department Store Union (RWDSU) on December 23, 2020, the Housing Works Union worker-led bargaining committee has sat across the table from management for nearly a year without significant movement by the employer on priority worker issues, such as strong wage increases that keep pace with costs of living, dedicated mental health leave to reduce burnout, group mental health counseling, and sustainable workloads. This action is the latest in a string of workplace actions taken by the workers to demand a fair contract. Last week, members of the Housing Works Union hand delivered a petition signed by 405 members of the bargaining unit to Michael Clarke, SVP for Programs, in his office in Brooklyn, outlining workers’ demands that have yet to be agreed to at the bargaining table.p

Photo courtesy NYC Central Labor Council

Teamsters Rally at City Hall

Essential workers marked one year on strike with a rally at City Hall on April 21, calling on Mayor Adams to stop doing business with their union-busting employer. United Metro Energy, owned by billionaire John Catsimatidis, has received $37.9 million from New York City over the last year, undermining the Teamsters Local 553 strike. “Mayor Adams, the working class people of New York City need your help,” said Ivan Areizaga, a terminal operator who is among the striking workers at United Metro Energy. “When we went on strike, John Catsimatidis took away our health insurance and my son couldn't get his insulin. This is not the kind of company that New York City should be sending public dollars to.” The immigrant workers have been on strike since April 2021. They provided gasoline, diesel, and heating oil to New York throughout the pandemic, while Catsimatidis paid them wages as much as 50% lower than at other city oil companies.p