As an Owner, When a Buyer Fails to Pay the Mortgage, Do You Foreclose or Evict?
If you’re in the unfortunate predicament of failing to receive payments after an owner-to-owner transaction, you may question your options of proceeding. Do you foreclose? Perhaps you should begin by evicting? First, know that eviction refers to the current occupation and ownership of the proper ...
Statute of Limitations: Does It Apply Differently to 2nd Mortgages?
Although it could take a mortgage lender months or even years to initiate a foreclosure after a homeowner has stopped making payments, it’s important that borrowers know what the statute of limitations is and their set time limit. Here’s an overview of the statute of limitations and how it applies t ...
Three Things You Should Know About Selling a Private Mortgage Note
3 Things You Should Know About Selling a Private Mortgage Note Whether you’re working with an investor to sell your private mortgage note or dealing directly with a buyer, it’s important to know the ins and outs of doing so. No matter your reasoning for selling your private mortgage note, remember t ...
Is it Legal to Arrange Short Sale With Your Relative Coming Forth as a Buyer? Any Consequences?
Selling a home can be tough, especially over time when the market and economy changes. Leftover mortgage payments can cause house selling to be a tough task, for no one wants to have existing debts with the bank. For this reason, short sale becomes the best option. A short sale is an agreement with ...
