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Sign an Exclusive Contract With a Mortgage Broker?
20 June 2005 Many borrowers are reluctant to sign a contract with a mortgage broker that bars the borrower from working with another loan provider. The following letter is typical. ?The mortgage broker I contacted asked me to sign an "exclusive agency" agreement that says I ... more...

What Is Predatory Lending?
November 8, 1999 "What is 'predatory lending'"? Predatory lendinghas been much in the news lately, and legislation has been introduced in a number of states to regulate it away. Most of this proposed legislation is ill-advised -- a knee-jerk response to horror stories. ... more...

mortgage contract related definitions

Default
Default Failure to meet legal obligations in a contract, specifically, failure to make the monthly payments on a mortgage. You'll ... more...

Wraparound Mortgage
Wraparound Mortgage Mortgage Loan which provides a buyer with the amount of the remaining balance on a seller's mortgage plus an additional amount which is requested by seller as part of the contract of sale. Payments are made to the lender who holds the wraparound loan. ... more...

More about mortgage contract

Sell Your Home and Invest at the Same Time
I continue to see the same For Sale signs in my neighborhood. The houses just aren't selling. If you are considering selling or have a home on the market that is not moving, it's time to think about financing the sale yourself. A good friend of mine bought a new home three months ago, and he has ... more...

Investment Real Estate Done Right -- Your Quickest and Safest Path to Wealth
In investment real estate the quickest way to wealth is through owner financing, or lease optioning. So, let's take a look at one model transaction, involving the purchase and sale of two properties on lease-option contracts so you an apply it to your own investment real estate system.Assume you ... more...

Real Estate Stories that Show You How!
Lets begin easing you out of the pits. I mean, comfort zone! Im going to slowly and methodically give you as many little sparks and insights to the relatively simple ways that ordinary people use real estate to achieve extraordinary results.Stories are the best spark plugs. They let you casually ... more...

Getting Raw Land, Not a Raw Deal!
There is more to buying raw land than meets the eye and more than a few individuals have wished theyd had a second chance upon finding themselves duped, conned, misled, ill-advised, uninformed, oversold, undereducated and often unprepared. They realize, often too late, that a raw land purchase ... more...

The Red Flags of Getting a Home Loan
Red flags are indicators that there may be a current or future problem with the borrower or transaction. They help Underwriters isolate pertinent issues that are part of the overall loan evaluation. They are questionable items, and when there are several, they usually indicate that something is ... more...

From Employee to Entrepreneur: Taking the Plunge
Before you decide whether or not running your own business is right for you, start by pinpointing your area of expertise and assessing your aptitude for business.Starter Questions Ask yourself the following questions:- In what areas do people approach me for advice and assistance? From what parts ... more...

High Tension for the Buyer and Seller of Real Estate Can Be Reduced
Tensions can run high in both the selling and buying of real estate. After all, there is a lot of money and emotion involved! There are also time pressures and numerous privacy issues to deal with. The sale and purchase of real estate can be a lengthy process involving numerous professionals from ... more...

Bankruptcy, Is It A Way Out
Negotiations with creditors have failed. Repossession is imminent and foreclosure proceedings have begun. Your income is simply not sufficient to pay your bills, no matter how low the payments are. It may be time to consider bankruptcy.Bankruptcy law evolved as a reaction to the abuses surrounding ... more...

Set Aside Foreclosure and Decree and Motion for New Trial
Prove Up of the ClaimTo recover on a promissory note the Plaintiff (lender) must prove existence of the note.To recover on a promissory note, the plaintiff must prove:(1) the existence of the note in question;(2) that the party sued signed the note;(3) that the plaintiff is the owner or holder of ... more...


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