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 76

Due diligence Hard money loan Inspection Title 76

Point2Homes

JUNE 23, 2021

Real estate-owned (REO) properties, also known as bank-owned, are properties that have not sold at a foreclosure auction , and as a result, they are owned by the foreclosing bank. Ideally, you should hire a company to run a full title search before closing to avoid unpleasant surprises.

Pre-approval 71

Pre-approval Banks Title search Inspection 71

HomeLight

AUGUST 31, 2021

Bank-Owned or REO: If a home doesn’t sell at auction, it becomes a real-estate owned home , meaning the bank or lender officially owns it. 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. Bank-owned/REO sale.

Pre-approval 107

Pre-approval Short sale Banks Finance 107

The Close

DECEMBER 29, 2022

Make sure clients who see an acceleration clause in their mortgage contracts understand that this allows their lender to demand repayment of the loan in full if they default on the loan. 4 Loan Questions Worth Asking. Basically, amortization is the preset schedule of mortgage loan payments, including interest, over time.

Purchase and sale agreement 98

Purchase and sale agreement Title Proof of funds Pre-approval 98