Wraparound mortgages are a form of seller financing where Instead of applying for a conventional bank mortgage, a buyer will sign a mortgage with the seller. The seller then takes the place of the bank and accepts payments from the new owner of the property. Who is responsible for theRead More →
Definition of mortgage (Entry 2 of 2) transitive verb. 1 : to grant or convey by a mortgage. 2 : to subject to a claim or obligation : pledge. How do you spell Unmortgageable? adjective. Especially of property: that cannot be mortgaged; not mortgageable. What is the silent consonant inRead More →
Bank of England to raise rates in late 2022, possibly sooner – Reuters poll. … Bank Rate was seen rising to 0.25% in the fourth quarter of 2022 from its current record low of 0.10%, according to the Sept. 6-9 poll. In an August poll no change was expected untilRead More →
A guarantor is someone who is willing, legally, to pay your mortgage or loan if you cannot. … “Agreeing to be a guarantor on a mortgage should not be done lightly.” Not doing so could result in repossession of the house and very negatively impact on both of your creditRead More →
Buying a property that has previously been underpinned shouldn’t cause an issue with your mortgage, as long as a full structural survey reveals no further problems with the property’s structure. Does underpinning affect house insurance? Most instances of subsidence are insured, and the cost of stabilising your property will beRead More →
Title report vs. The title report and title insurance are similar in name but aren’t the same things. A preliminary title report is the first step to obtaining title insurance and details liens and other exclusions that the policy would not cover. How important are the preliminary titles? The reasonRead More →
Apply for your mortgage broker license and get your mortgage broker bond. … Maintain your license. How hard is it to be a mortgage broker? There are no hard-and-fast requirements for becoming a mortgage broker, but you will need some type of training. Many brokers are former loan officers whoRead More →
A party to a deed cannot witness the signature of another party to the same deed (the rule in Seal v. Claridge (1881) (7 QBD 516 and 519)). If a mortgage lender is involved, it may stipulate rules regarding the witnessing of documents. Most lenders insist upon independent witnesses whoRead More →
Government Assistance with Mortgage For information on help that might be available contact a federal Housing and Urban Development office in your area, visit the agency’s website or contact a state social services office. HUD and other agencies offer mortgage payment grants to homeowners with hardships. Can I buy aRead More →
If your Borrower is applying for an FHA Loan – “Federal Tax Debts: Tax liens may remain unpaid if the Borrower has entered into a valid repayment agreement with the federal agency owed to make regular payments on the debt and the Borrower has made timely payments for at leastRead More →