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Real estate fees too high on L.I.

A report released Oct. 29, 2013, by real

A report released Oct. 29, 2013, by real estate analytics firm RealtyTrac tries to peg some weak spots in the local housing market to Sandy. It reported that foreclosures are up 33 percent year-over-year in New York City and Long Island through 2013's first nine months. Credit: iStock

To increase fees for mortgages on Long Island is the biggest travesty [“Builders, Realtors fight fees,” Spin Cycle, Sept. 26]. We are laughingstocks because we have outrageous mortgage taxes that other states don’t have. Our closing fees are outrageous.

I am a licensed real estate broker, and I feel pity for home buyers forced to pay junk fees. Neighboring states do not even require that a purchaser have an attorney; the Realtor handles the escrow.

No wonder young people leave Long Island. We have outrageous closing costs, very high real estate taxes and electric rates, and escalating fees. I don’t understand why local governments are always in the red. Perhaps we have too much government. The time may have arrived to trim government and reduce fees and taxes. You can’t keep bleeding a stone.

Rosemary Terryn, West Hempstead


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