Cheryll LeBlanc - NMLS #484281 - CrossCountry Mortgage, LLC

04/07/2026

Mortgage Math +/-x - Let's Talk Septics ...

Let me save you some money.

In MA, if you have a Private Septic System, in order to sell a property, you must have a Passing Title V Report.

This report shows that the septic system is functioning and meets state requirements.

If you are buying/selling in MA, all lenders are required to get this report in order to close on your home. (If you go to CT - they don't have septic requirements.)

I have seen some exceptions: cash sales, private deals, maybe some small banks...but 99% of the time. It's needed.

The Seller usually provides this report unless the property is being sold that it is the responsibility of the buyer.

If it's the responsibility of the buyer - and it fails, either due to repair or replacement - if it isn't repaired before closing - then a holdback or a renovation loan/construction loan, needs to be done.

Sometimes a "fail" on a Title V is a small repair. Sometimes it's a full replacement.

A holdback - is when the bank or attorney "holds back" from the sellers proceeds until the new system is installed and the town/city provides final approval. The repair/replacement is done after buyer owns the home.

A renovation loan - provides the money within the mortgage to get the septic system repaired/replaced - after the closing. The seller then receives all of their money.

Here are my tips to saving money:

1.) If a property is being sold between immediate family members, no Title V report/inspection is required by the state. And consequently, the lender.

2.) If you have a Title V Inspection Report completed - it is valid for two years. If you sell within those two years, you can use the original report. If it's beyond two years - the inspection can be valid for another year IF you pump the system EVERY year. NOT before the end of year 2. (this is a common and expensive mistake).

Title V Inspection Reports are usually between 800 and 1200 . Pumping is usually between 200 and 500.

If you are thinking of buying or selling, consult a Realtor who is experienced in Title V guidelines or a lender who has dealt with them... a LOT :).

Cheryll LeBlanc
508/498-7570
[email protected]

03/12/2026

Mortgage Math _x+/ - Changing Insurance Companies

Good Morning.

Homeowners Insurance Premiums are increasing at an consistent rate. In addition to trying to drop PMI, people are trying to improve payments by finding less expensive insurance.

If your insurance is escrowed, and you're changing"carriers" - there is a process. This must be followed -otherwise all hell will break loose.

1.) The Anniversary Date of your Original Insurance is always the original day you bought the house. Buy on April 10th, 2020 - that premium will always be due by April 10th.

2.) If you change companies, that new insurance is always effective on the date the new policy takes effect. Take out a new insurance policy on 11/01/2025, that new insurance is due every Nov 1st.

3.) IF you change carriers, the new insurance company is SUPPOSED to notify the old carrier of the cancelation. But it doesn't always happen. And it's never followed up on. I strongly recommend that you just assume it's not done and do it yourself.

4.) Call the old insurance company, advise of the new policy and advise of cancellation. At this point - you've already prepaid the old policy through - using our example - 4/10/26 - and you are owed a refund of whatever months are remaining. THIS IS MONEY TO YOU!

5.) Call the mortgage servicer, tell them the change. Provide a copy of the new binder; advise of the cancellation of old and MAKE SURE they adjust the dates and notify them of the new due dates and amount.

6.) If you take out a new policy, you will need to pay that premium in advance, just like when you closed. If you present it to the mortgage company to be paid out of the escrow account - they will think you have two policies. your payment will increase when they run the escrow analysis. The escrow account will go into the negative or it will read a shortfall, and your payment will increase to re-fill that 2.2 month buffer and the negative.

7.) If you plan on changing the insurance on the anniversary date of your closing, that will save some trouble BUT you will want to make that change 45 days before the old one is due. Notify the existing insurance that it's to be cancelled and not to forward to mortgage company for payment. Advise the servicer of the new insurance by providing them all of the info they need. Let the new insurance co. know that they can bill the company for that first years premium.

And of course, when changing insurance companies, you want to make sure that your coverages are all adequate. And your savings is not being made by skimping on coverage.

I learned everything about insurance from the insurance agents I work with. Any questions or help, I highly recommend Tim Dacri @ Cantiani Insurance. (508)791-2088 /
[email protected].

Best,

Cheryll LeBlanc
[email protected]
508.498.7570

Send a message to learn more

03/09/2026

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03/07/2026

This simple guide teaches you how to create a carpet stain removal kit and walks you through the cleaning process step by step.

Discover the magic of pristine rugs when you learn how to clean carpet stains like a pro with this handy how-to guide.

03/05/2026

If you like my service or have feedback to share, don't forget to leave a review on my site.

If we’ve worked together in the past and you had a great experience, would you pay it forward with a review? Thanks so much in advance.

03/04/2026

Is it possible to make a TV wall that is both stylish and practical? Here are some examples to prove that it can be done.

It’ll convince you it’s time to mount this year.

03/04/2026

Mortgage Math _+/x ~ Student Loans

How can I afford my own home with student loans??

This is a very common question. It's forefront on everyone's minds. I've seen student loans for less than $500 to over $500K...I once saw someone who had 260K in student loans from a medical school, that they never graduated from. Its outrageous.

BUT

We do qualify people all the time with student loans.

First - if they are in deferment, we automatically use .50 of the outstanding balance, as a payment place-holder. So you're right, at 500K, I'm using $2500/m as part of their debt. At $500, I'm using $2.50. Old underwriting guidelines used to disallow any potential debt, if the loan was deferred for 12 or more months. But they must've had a crystal ball or something ;).

Second - we are using that estimated payment OR the actual payment if it's in repayment - to qualify.

Third - when qualifying for a mortgage - we only use gross income - not net. We only obligate for debts on the credit report, child support/alimony/separate maintenance (if paid) and the new mortgage payment. We don't use: groceries, health insurance, utilities, loans against 401Ks; gas; union dues, etc.

If homeownership is on your mind, but are fearful of upcoming student loan repayments - give me a call and let's talk about what's possible. And let's plan for your future!!!

Cheryll LeBlanc

508.498.7570
[email protected]

Send a message to learn more

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