In title theory states, a lender holds the actual legal title to a piece of real estate for the life of the loan while the borrower/mortgagor holds the equitable title. When the sale of the real estate goes through, the seller actually transfers the property to the lender.Does...
* Deed of trust. This is the mortgage document. As you stated in your question, it is recorded among the land records, andyour lenderkeeps the original. When you pay off the loan, the lender will return the deed of trust with the promissory note. Who holds title in a trust? Based on...
An owner-occupant is a property resident who also holds the property title. An owner-occupant must move in within 60 days of closing and live there for at least one year.
The title and mortgage are in your name, you can kick your spouse out, right? Maybe your partner signed a quit claim deed; the house is yours! Sorry, but for both of these examples, you would be wrong. When dividing assets, the issue of who holds the title is a relevant one. This...
financial system during the subprime mortgage crisis that stemmed from an earlier expansion of mortgage credit, the Emergency Economic Stabilization Act (EESA) signed into law on Oct. 3 by President George W. Bush. The act sought to restore liquidity to credit markets and minimize foreclosures on...
The same holds true for any homeowners association dues or charges that may apply. Mortgage payoff: If there’s a remaining balance on your mortgage, this must be fully paid off as part of the closing process. This is very common and typically gets taken out of your sale proceeds and ...
If you can't find the tax records, you can request a title search on the home to find out who owns it and what liens exist against the property. Advertisement Step 4 Contact the mortgage company that holds the lien on the home. In some cases, they may be willing to tell you which ...
Mr. Lefanowicz has more than two decades of experience in operational and financial leadership roles within the mortgage and banking industries. He spent the majority of his career in a variety of senior management positions at PricewaterhouseCoopers. As a partner in the firm for nearly a decad...
The county argued in court papers that Tyler had ample opportunity to avoid forfeiture, stating she could have sold the property herself, paid her tax bill and mortgage and kept the excess. She could also have accepted a payment plan from the county but did nothing for five...
“It feels to me like there’s one thing the Who can do,” the rocker explained toThe New York Times, “and that’s a final tour where we play every territory in the world and then crawl off to die.” The ever-candid guitarist admitted a final trek for the Who would be less abou...