The Pre-Recession Housing Problem: Part 1 of 2
Although the home equity line of credit (HELOC) has been around for many years, it gained popularity in the early 2000s. Far fewer HELOCs are being issued by lending institutions today due to the 2008 financial crisis, but millions of homeowners still have this type of arrangement, and are in for a ...
Does a Lender Have to Own the Note in Order to Foreclose or Can They Just be the Holder of Note?
When homeowners borrow a mortgage loan to purchase a property, they sign both a mortgage (or deed of trust) and a promissory note. The promissory note (not the actual mortgage contract) is the document that contains the promise to repay the amount borrowed from the lender. The owner of that promisso ...
Who Pays a Lien in a Foreclosure?
If you are sued for a sum of money that you may owe a creditor and lose the case, the prevailing party will be granted a judgment. That party may then file a judgment lien, which is a lien that attaches to your real estate. When a creditor files a lien against your property, the lien attaches to the ...
What is a Warranty Deed on a Timeshare?
Owning a timeshare may seem like a good idea for buyers looking for a slice of paradise once a year, but, like any property purchase, timeshares are also packaged with legal issues. Along with a week of sand and sun, buyers of timeshares can expect that they eventually may run into a deed problem. A ...
