Articles – Real Estate Deeds Made Easy Since 1997
Most home buyers get a mortgage loan to finance the purchase. And for most people, the mortgage servicing company holds some of the owner’s payment in escrow, and pays property taxes out of that account on behalf of the borrower as long as the mortgage exists. But what if the mortgage servicer lets a tax …
Continue reading “Mortgage Company Paying Your Property Taxes Out of Escrow? Check.”
In 2018, United Wholesale Mortgage (UWM) decided it would offer an option to people who applied for mortgages backed by Freddie Mac or Fannie Mae. The borrowers could have escrow-free loans, at no extra charge. Even if their down payments were low. Even if they had so-so credit. Other industry professionals criticized the move. …
Continue reading “Does Your Mortgage Really Need an Escrow Account?”
How Escrow Helps Home Buyers—And When It Hurts Through an escrow arrangement, a neutral go-between holds onto documents or collateral while a transaction is underway. Escrow providers usually charge the parties a fee to accept and hold the assets, redistribute the funds pursuant to the parties’ agreement, and ultimately close the escrow account. When you’re …
No one wants to fall prey to scam artists. Better guidance from real estate agents would be a big help. After all, a staggering fifth of fraudulent money transfer requests pretend to be coming from real estate professionals. So, why aren’t clients getting stronger warnings?
Well, it’s one way to transfer property deeds between people! Yet trading homes with someone else isn’t your typical deed transaction. In a prolonged tight market, deed exchanges are drawing growing numbers of curious and creative homeowners. Here’s a bit more about the concept.
Blockchain, the underlying technology of cryptocurrency, is a digital recording system, leading innovators to wonder if it could solve challenges in deed recording. The U.S. deed recording system is tried and true. At the same time, title defects and tangled titles are much too common. Additionally, deed fraud harms vulnerable homeowners.. What if our title …
You joyfully pick up the keys on closing day, and leave the office triumphant, a thick folder from the title company under your arm. The title company played a starring role in your day. At least it did if a mortgage is involved! Cash buyers need not hire experts to run a search on the …
Continue reading “Behind the Scenes of a Home Purchase: What’s Your Title Company Doing?”
If you’ve ever bought a house, condo, or co-op, you’ll know it’s a major process. Many joyful buys took a good deal of trudging through weeks of stressful communication challenges. The journey was loaded with people, paperwork, and fees. Why do we put ourselves through it? Because getting into the market is a key wealth-building …
We all know about porch pirates… but look out for title pirates. They’ll take your whole porch. Title piracy is deed fraud. It happens when someone uses a deed to deliberately take over someone else’s real estate. It’s an unusual crime, but according to the National Association of REALTORS® (which cites FBI figures), it’s been …
Continue reading “Ahoy There, Matey! Look Out for the Title Pirates”
Millions of U.S. households have multiple adult generations. How do they divide up the worth of their home and the upkeep that goes into it? Who pays the mortgage, insurance, and property taxes? What happens if an owner leaves the home, or passes away? A lot comes down to good deed planning. In this discussion …
Continue reading “Multigenerational Homeownership: How the Deed Is Vested”