http://www.reuters.com/article/pressRelease/idUS241182+30-Apr-2008+BW20080430

Diane - thanks for bringing up the subject.  I haven't received anything from my underwriter ... Hhmmm.....

Can you dumb this down a bit for me.  The legalize sometimes spins my head,

I'm doing a job in Wilkes Barre now - a refi along with taking the property from an LLC to their individual names.  The transfer tax is 3% of the fair Market Value [ 1 to the state, 1.5  to the city and 0.5 to the school  ] . Note that fair market value in Luzerne County is 20.8% x Assessed value... geeze.

Does what you are  describing affect just purchases?   and how so.  Can you give me a short example of say, a $200K purchase - cash - say a 1 % city tax on top of the state.  Who (buyer / seller) pays what - and - how is it listed diferently on the HUD?