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The purpose is to assess the likelihood the tenant will fulfill the terms of the lease or rental agreement and will also take great care of the rental property in question. The process culminates in a decision as to whether to approve the applicant, approve the applicant conditionally (such as requiring an increased deposit or cosigner ), or ...
Conditional approval, on the other hand, comes in after initial approval — and in fact, after you’ve signed a contract to buy a home and formally applied for a mortgage. This stage involves a ...
A conditional sale is a real estate transaction where the parties have set conditions. [1] [2] A standard real estate transaction usually begins when a prospective purchaser submits an offer to purchase to the vendor of a property. As in a standard offer, a conditional offer sets out the terms of the sale such as the purchase price, the date of ...
Section 515 Rural Rental Housing is a USDA rural housing program authorized under Section 515 of the Housing Act of 1949 (42 U.S.C. 1485). The Rural Housing Service (RHS) is authorized to make loans to provide rental housing for low- and moderate-income families in rural areas. Though rarely used for this purpose, Section 515 loans may also be ...
The decision comes after the City of New York's Rent Guidelines Board voted last week to increase rents for rent-stabilized apartments by 2.75% for one-year leases and 5.25% for two-year leases.
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Due to lender guidelines, it is rare for conventional loans for a property having a third or fourth mortgage. In situations when a property is lost to foreclosure and there is little or no equity, the first lien holder has the option to request a settlement for less with the second lien holder to release the second mortgage from the title.
The Urban County Planning Commission gave final approval Thursday for two, five-story apartment complexes that also includes ground-floor retail at 262-272 Midland Avenue and 604-610 Winchester Road.
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