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I am often asked why a lender wouldn't take back a deed in lieu of foreclosure when the homeowner offered his deed to the lender before he went into foreclosure. The lender will not consider a short sale or a deed in lieu of foreclosure until the homeowner is at least 90 days late on his mortgage or deed of trust payments in most states. In some states like Georgia, the foreclosure period is only 30 days so check what your state's foreclosure laws are before assuming anything or listening to anyone who is not an attorney. Related Article Tags: , , , , , , ,
Say you have a great deal and you are just waiting to close it out. In fact, tomorrow your plan is to get the deed (if they are willing to give it to you).
When looking for a financial product that will help you with your current financial situation, there are certain terms which apply to particular countries only. For example, if you are in a financial bind and you need to go for debt management solutions, you need a debt settlement arrangement if you're from the US, an Individual Voluntary Arrangement if you're from the UK, or a trust deed if you're from Scotland. Here, we will discover more about trust deeds and how they can be used to help manage your finances if you're from Scotland. Related Article Tags: , , , ,
In the US and the UK there are no government debt management plans in the sense that the government get directly involved in providing direct help with your debt problems. However, a government can legislate to put systems in place that make it easier with people with serious debt problems to avoid the usual route of bankruptcy. Related Article Tags: , , ,
Insolvency involves a situation, in which a person or an organization is not capable of repaying any of their debts. During such cases, an insolvency trustee is allotted to sell all available and liquid assets, and whatever recovered from the sale is paid to off as liabilities to the creditors.
The deed to a property is a legal document that establishes ownership. There are different types of deeds. Here is an overview of a quit claim deed. Related Article Tags: , , , , , , , , , ,
When you buy the house subject to, does that mean the seller doesn't care about their credit? Some sellers just don't. Related Article Tags: , , , , ,
In part one we left off deciding whether or not we would drop the agreement for deed. In part two we will continue our scenario. Related Article Tags: , , ,
When the economy is not doing well, thousands of people may very well lose their job as well as their ability to continue meeting mortgage payments. When that happens, the inevitable follows - foreclosure of the property is looming ahead in the horizon. If no action is being taken, the lender will foreclose the property, and the homeowner will become homeless.
If you are in the market of purchasing or selling a home, it is likely that you will come across many different documents of a wide variety, each of these will likely have different uses, functions, and names associated with it. When selling or buying a home two documents that are misunderstood the most are called quit claim deed and warranty deed. People tend to believe that both forms are exactly alike, well I am here to tell you differently.
A mortgage is not a home loan, but a document giving the lender security in the property purchased. A deed of trust and a mortgage are similar, but there are some differences between the two, which are important for you to know just how the lien on your property has been secured.
In this article I’ll give you what I recommend for investors want to invest in tax liens, but find that in their state they only sell tax deeds. It’s not a one-size fits all answer, it really depends on what your goals are and on your particular state. Related Article Tags: , , , , , ,
Learn what a "deed in lieu of foreclosure" is and whether it can really benefit a homeowner in foreclosure. Related Article Tags: , , , , , , , ,
Once you own a home, you'll get the urge to make home improvements. Often, you'll need a home improvement loan.
A deed to a property is an essential document passing ownership of a property from the seller to the buyer. There are several things to consider when deeding a property. Related Article Tags: , , ,
Anyone who has had to go through a legal process (and that's practically everyone) knows that there is a plethora of papers involved. One of the most common types of legal papers is a quit claim deed. This is basically documentation that allows a person to give away his rights to a piece of property to another person or entity. In effect, the person who signs the quit claim deed transfers the right to ownership of that property to someone else. Related Article Tags: , ,
When selling a home, there are a few fundamental topics you need to understand. This brings us to the issue of the different types of deeds you will run into. Related Article Tags: , , , , , , , , ,
You may have heard that tax deed investing is a great way to purchase properties for back taxes. But here are the reasons why it doesn’t always work out that way. First of all these tax sales are competitive and though the bidding for tax sale properties may start at the back taxes owed, any property with a house on it is bid up at the sale, sometimes close to market value. Related Article Tags: , , , , , ,
If you have been reading my articles, you are probably familiar with the concept of creating and using land trusts for privacy and protection of your real estate. However, what about your ownership of notes, mortgages, deeds of trust, leases and options that may appear on public record? What about cars, boats, mobile homes and other items that are registered and recorded in public places? Good news... there is a special trust just for that purpose! Related Article Tags: , , , , , , , ,
During the process of selling or purchasing a house, there will probably be several kinds of documents that you will encounter. All will have different names and different uses and functions. Two of the most misunderstood documents are the warranty deed and the quit claim deed. Related Article Tags: , , , , , , ,
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