Many people in real estate withhold information regarding principal reductions. The HAMP program has a four prong approach to modifying home loans to get homeowners to the magic 31% of income payment amount. The principal ways loan servicers have used to meet this magic number are to extend the term …Read the Rest
There are a number of rules regarding the HAMP program – many homeowners who are unemployed or under employed believe …Read the Rest
Principal reduction offers benefits to both banks and homeowners – which may be the reason banks aren’t offering principal reductions …Read the Rest
But, brokers said, many lenders are clearly reading those guidelines through an increasingly conservative lens. “Lenders are picking and choosing …Read the Rest
A. ACCELLERATION CLAUSE: Means exactly what it says; speed up! If a borrower does not do something the loan requires, …Read the Rest
There are two federal agencies and one state agency that help make it possible for people to buy homes they …Read the Rest
It gives a party the right to foreclose and sell the property if the borrower doesn’t pay for the loan in full
A LIEN IS a document that uses property to secure a debt. It is usually recorded at the local House …Read the Rest
This is referred to a “LIFE ESTATE.” There are two types of life estates. 1. An Estate in Reversion. Title …Read the Rest
Calif. starting points for land descriptions using U.S. Gov. Rect. Survey System: A rectangular system of land survey that divides …Read the Rest
A term used when describing a mobile or manufactured home mortgage. Specifically when the home is not financed with the …Read the Rest
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