This is when the debtor puts up a property they own to secure the debt. An example of this would be if John took out a second mortgage on a house he already owned. Statutory: Statutory liens are obtained by operating state or federal laws. This means that the lien is authorized by ...
Are you curious what secrets a house holds? Learn how to find the history of a property online in this guide filled with resources.
It’s possible to close on a house in as little as 30 days, but this depends on the borrower and the loan originator. Many factors can cause delays during the closing process, some of which are out of the buyer’s or seller’s control. Getting a mortgage preapproval, having your ...
Torefinance your home, your lender will require a new appraisal to determine itscurrent market value. This helps them calculate your equity, which is the difference between the property’s market value and the amount you still owe on your mortgage(s), including anyunpaid liens. ...
A house lien, more commonly known as construction liens or mechanic's liens, is a mortgage-like device contractors use to ensure payment after they have completely fulfilled their obligations. If a contractor is not paid for work, they can file and attach a lien to the property in question ...
House flipping deals happen quickly when they get started, but it can take time to find the right deal that will make you a profit. Patience is something new flippers need because you will lose money at first, and you will make mistakes. The key is to be patient, learn from your mistak...
Reasons to Find the Owner of a House Some people shop for real estate by driving around a specific area to locate houses that look like promising investments. If you are one of them, you'll also need to know how to find the homeowner. But that's not the only reason for needing to ...
Here are some ways to use such a loan wisely. What is home equity? Home equity is the difference between how much you still owe on your mortgage loan and the current value of your house. But the value of equity in your home can change over time. For instance, let’s say you ...
Before your house goes into pre-foreclosure, you will receive a legal notice of default, alerting you to risk of your house ending up in pre-foreclosure. If you haven't made payments to your mortgage in over three months, it is likely your home will fall into pre-foreclosure, as well....
financial transactions and, unlike involuntary liens, will have no negative impact on your credit as long as you keep up with your loan obligations. However, they do put your property at risk if you are unable to repay, so you'll want to consider that possibility before you consent to one...