Realty Biz

JUNE 20, 2023

Understanding Foreclosures Foreclosure is a legal process where a lender attempts to recover the balance of a loan from a borrower who has stopped making payments. The lender does so by forcing the sale of the asset used as the collateral for the loan, typically a house. Alternatively, you may need to consider hard money loans or cash.

Due diligence 74

Due diligence Hard money loan Inspection Title 74

Marco Santarelli

DECEMBER 22, 2020

A real estate mortgage note is a promissory note secured by a mortgage loan. The promise to pay which is called a promissory note, which states how big the loan is, and what the interest rate and the terms of the loan are. Therefore, the loan amount would be $120,000. It is not the same as a mortgage loan.

Mortgages 122

Mortgages Purchase and sale agreement Fixed-rate mortgage Loans 122

HomeLight

AUGUST 31, 2021

For example, a homeowner and lender agree to sell a house for $200,000 even though there is a balance of $250,000 on the mortgage loan. Plus, a physically foreclosed property will typically have its liens wiped out during the foreclosure process , so you know you’re typically getting a home with a clean title.

Pre-approval 103

Pre-approval Short sale Banks Finance 103