Question:  I am selling my lifelong home and downsizing to a condo.  I will make enough from my sale to pay for the condo outright.  Some people tell me "it's financially beneficial to have a mortgage".  Others say "its freeing to live without a mortgage".  What should I do ?
 
Answer:  Home buyers run a gauntlet of professional opinion givers, who are specialists in their field, only.  For example, a mortgage originator will tout the tax benefits of a mortgage, and downplay the alternative financial freedom.  A real estate broker may argue to increase your offer's attractiveness, by paying cash.  Always check the source of your advice.
 
It is true, there are tax benefits in being able to write off mortgage interest payments.  At the end of the year, this write-off may offset taxable income, or even drop you down a tax bracket. 
 
Further, by preserving your sale proceeds, you may be able to invest the money at a rate of interest sufficient to offset your interest payments.  For example: a 4.5% interest rate on your mortgage can be offset by investing the sale proceeds properly to earn a similar rate.
 
However, owning your home outright can provide sweet mental and emotional freedom. I haven’t felt such freedom, but most of my senior clients will never go back underneath a mortgage, again.  Also, in this competitive homebuying environment, you will jump near the front of the pack as a "cash buyer".  You will save a few thousand in lender closing costs, as well.  Heck, you can always get a mortgage later, if you wish.
 
So, like most of the major decisions in your life to this point, get advice, be skeptical of the source, and ultimately follow your heart.   
 
Attorney James Haroutunian practices real-estate law, estate planning and probate at 630 Boston Road, Billerica. He gladly invites questions at james@hlawoffice.com or by phone at 978-671-0711. His website blog is found at www.hlawoffice.com.

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This week, a wonderful colleague from www.elderimpact.org, an online resource site helping seniors use technology to keep touch with family and monitor life’s requirements.  Marie Villeza recommends the following tech tools for today’s seniors:
 
To Stay Connected:
 
The Easy Family App Suite features an easy to use interface and provides a fast and easy launch of email, video messages, Skype, Facetime, Flickr, Facebook photo albums, and more. 
 
For Medication:
 
The Tricella Smart Pillbox will ensure your loved one follows his or her medication regimens. If he or she forgets to take the pills or accidentally takes the wrong ones, you’ll receive a notification.
 
Reminder Tools:
 
For brief lapses in memory or attention, such as misplacing car keys or forgetting to take medication or meals, the DeRoyal Reminder Rosie Clock provides up to 25 personal reminders. You can even record the messages yourself to give it a more personal touch.
 
Home Safety:
 
For safety around the home, there your local hardware store offers Motion Sensors and Smart Lights that turn on when someone enters the room.  This can provide needed alert when activity occurs at unusual times, like the middle of the night.
 
Caring for your loved one may be difficult, and doing so from far away can present issues. Thankfully, technology, apps, and services are available to give you peace of mind and make caring from a distance a little easier. You can utilize these options to stay connected, monitor your loved one’s health and safety, and to ensure your loved one is well cared for.
 
Attorney James Haroutunian practices real estate, estate planning and business law in Billerica at 630 Boston Rd and can be reached with questions at hlawoffice.com, 978-671-0711 or via email: James@hlawoffice.com.  
 
Marie Villeza’s www.elderimpact.org, is a great resource for senior tech information or for help with elder fraud related matters.  
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​This week, a Dallas jury sent a loud message to loudmouth online reviewers.  A wedding photographer whose reputation was smeared by newlywed customers won a major verdict for defamation.
 
The customer’s complaint: $125 charged by the couple's wedding photographer.  The couple felt the circumstances around the additional charge were unfair. So, they took to the social media and local television to air their grievance.
 
The harm alleged by the business: An astronomical loss of business, after the posts.  The photographer went from 100 weddings in 2014 to only 2 weddings in 2015. 
 
The judgment award: $1.08 million owed by the customer to the business.
 
According to the photographer’s attorney, the couple's negative publicity campaign included the following allegations:
 
- The photographer was "holding their pictures hostage”;
- She “blatantly stole money while holding pictures ransom and then adding on extra fees”;
- She was “nickel and diming” them.
- Colleagues of the photographer were harassing the couple for taking their complaints public.
 
This ruling is a sign that the justice system may be used to offset consumer review power prevalent in the social media age.  The lesson for angry consumers: take a deep breath before you trash a company online.  The first amendment will only protect you so much.
 
Attorney James Haroutunian practices real estate, estate planning and business law in Billerica at 630 Boston Rd and can be reached with questions at hlawoffice.com, 978-671-0711 or via email: James@hlawoffice.com.