DEED-IN-LIEU: Freddie’s Plan to Help Jump Start the Residential Real Estate Market
The Federal Housing Finance Agency, will be implementing new procedures to help with the ongoing housing crisis. Planning on increasing servicers incentives for completing a deed-in-lieu of foreclosure, they have created a Single-Family Seller Servicer Guide. Read the rest of this entry
When purchasing a short sale, isn’t the title free and clear? Could liens present a problem? Oh, boy the questions you think and maybe don’t ask!! The answers to any of your questions can be Yes, or Yes, or No!! So how do I know?? Read the rest of this entry
It cannot be stressed enough the importance of recording your deed in the county in which the property is located. We will discuss why it is so important in a future article. Suffice it to say for now, that the act of recording your deed is crucial to protecting your property rights. Read the rest of this entry
When you borrow money from a lender and the lender later cancels or forgives the debt, you maybe required to include the cancelled amount as income for tax purposes, depending on the circumstances. Read the rest of this entry
Estoppel, what a funny word, but in Title Insurance, it is a word that is used and needed to get you to the closing table!
What exactly is an estoppel? An estoppel letter is typically used in a transfer or conveyance of real property before the Closing transaction. It is a document sent to a homeowners’ association (or condo association), to a city/municipality, or a tenant requesting a payoff of a mortgage, assessments or taxes due, or rental amounts due on a lease, to incorporate these amounts into the Settlement Statement for the buyer and seller of the real estate. It certifies the conditions that must be met by the title company to make sure that nothing is due and owing to the appropriate place at the time of closing. Read the rest of this entry