Tag: Mortgage Assumption
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Your Child Will Be Your Successor in Interest. What Does This Mean?
A successor in interest may be the person who inherits your home or otherwise receives an ownership interest from you. It’s a person who takes on the rights and responsibilities connected with the deed. In short: A “successor in interest” is someone who acquires an ownership interest from another party. Your child would also be…
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Risky Business: “Subject to Mortgage” Sales Leave Floridians With Debt and No Deed
In Jacksonville, News 4 just ran an I-Team investigation on homes being sold subject-to a mortgage. These so-called sub-to deals are gambles, said the reporter. A sub-to real estate deal could be a valid method of selling your home in some situations. But this approach carries serious financial risks. Here, we look at how that…
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Should I Pay Off the Mortgage if I’m Single with No Heirs?
Hold on a minute. Are you sure you have no heirs? Somebody in an extended family is nearly always tracked down when someone dies intestate. Of course, that doesn’t rule out the point of your question. Let’s take a look at the person who dies with a mortgage loan balance — but without naming a…
