The Town Plan sets out development rules, such as building line set-backs from each boundary; height restrictions; material standards and lots of other things.

In addition to that you usually have to advertise to Public by newspaper, as well as a sign on property, that you have lodged a Development Application.

You will have been told by Town Plan, how many times advert has to appear and how long sign on property has to stay erected on land - oh yes, it has to be erected on front boundary, not on rear boundary behind a bush.

All this takes time - advertising alone can be a month, then you have time if Objections from Public are lodged - then time for it to be checked by authority officers - then it has to get on Council's agenda. Oh sorry, you missed that meeting. You have to wait another month. So yep, it is a long process.

Anyone who has an interest in property or will be directly affected by what you propose to develop can attend these meetings.

Some people may not want you to build because of noise, or traffic your development will add or because they once saw aliens there. You get all kinds of people who reject change.

Question 4.

As a member of public how do they make their concerns or support be heard?

Reply

If you're a citizen attending hearing, chairperson will ask anyone who wishes to speak to approach podium and state their objections or comments.

If you are better organized, you can lodge an objection in writing, setting out your reasons and referring to similar cases that support your position.

Question 5.

If you are developer what action is required of you? What team of people do you need to be with you?

Reply

If fire in your belly tends to come out of your mouth, when provokes, don't attend - someone will find your 'hot button'. Result - lose your cool, you lose argument."

If you're proposed development is contentious, then I would engage a professional Town Planned to represent you.

As a professional, they are independent; can argue on basis of town planning principals; will know weaknesses of local town plan; and will put your case in language and temperament far better than you can.

If you are required to escrow for taxes and insurance it is a very good idea to write to your lender annually, demanding proof of payment of real estate taxes and insurance premiums. If lender does not respond promptly, contact your taxing authority to confirm payment of taxes, and complain about lack of response to your state or local financial regulatory authority.

Home owners who have 20% or more equity in their property - that is, if they borrow or refinance 80% or less than value of property - have right to receive a notice from lender that they may pay their own taxes and insurance without escrow. This is a wise thing to do as your money is better off working for you than sitting in a non interest bearing escrow account. This is of course providing that you have financial discipline to have funds available when it comes time to pay your taxes and insurance!

WARNING: Some lenders try to increase mortgage rate when borrower opts to avoid escrow. You should talk to your attorney who will likely advise you it is illegal for lender to do this. Again, MAKE THE EFFORT. It can be worth a great deal of money to you in long term.

Unfortunately, escrow for taxes is a way of life in mortgage industry. However, as a borrower, you have right to review and analyze - and complain if you find that your escrowed funds are not being handled properly. After all, this money belongs to you until it is paid to taxing authority or insurance company.

You can easily check your own escrow account.

To determine whether your escrow account balance is excessive, divide all annual expenses paid out of that account by 12.

For example, if your annual expenses are $1,200, lender would need $100 a month for payments.

If your monthly escrow payment is significantly higher than $100, lender may be overcharging. Some lenders establish separate escrow accounts for each item to be paid, rather than making all payments out of same fund. But regardless of method used, at some point in year, there should be no more than two times monthly payment in account (in above example there should be no more than $200 in account for at least one month of year), or a smaller amount if mortgage contract specifies one.

Should you find that you are being excessively charged you need to contact your lender for a satisfactory explanation because THIS IS COSTING YOU MONEY.

$500 in your escrow account is $500 that is not coming off your mortgage. You are paying interest on this which over years can compound out to significant amounts of money. In fact over a 30 year loan at 8% this $500 will have cost you $5,431.92 in additional interest. Is that worth fighting for?

I encourage you to make small effort required to monitor your accounts. It’s so easy to be complacent and assume that all is as it should be. TAKE RESPONSIBILITY for your finances. When it comes to your money, you are only person you can really trust.

Yuri Szilasi is the owner of

www.BankSentinel.com