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An Estoppel Certificate (or Estoppel Letter) is a document commonly used in due diligence in real estate and mortgage activities. It is based on estoppel, the legal principle that prevents or estops someone from claiming a change in the agreement later on. [1] It is used in a variety of countries for commercial and residential transactions.
The HUD-1 Settlement Statement is a standardized mortgage lending form in use in the United States of America on which creditors or their closing agents itemize all charges imposed on buyers and sellers in consumer credit mortgage transactions. The HUD-1 (or a similar variant called the HUD-1A) is used primarily for reverse mortgages and ...
Mortgage assumption is the conveyance of the terms and balance of an existing mortgage to the purchaser of a financed property, commonly requiring that the assuming ...
Before you can get a mortgage, you will need a mortgage preapproval letter. This is a document from a mortgage lender showing a proposed loan amount for a given borrower. While a preapproval ...
The mortgage or deed of trust is the agreement between you and your mortgage lender to put the home up as collateral for the loan. “In layman’s terms, it gives the lender the right to ...
Seasoning requirements can also apply to getting a loan after bankruptcy or foreclosure, and to mortgage refinances. For mortgages, money becomes "seasoned" after it's been in an established ...
Section 341a of the Act (codified in Title 12, U.S. Code, Section 1701j-3) makes the enforceability of due-on-sale provisions a federal issue and provides that if real estate loan documents contain a due-on-sale provision, that provision is enforceable if the property securing the loan is transferred without the lender's consent. Institutional ...
Sample letter of explanation While the exact content of your letter depends on your circumstances, you can use this sample letter of explanation to a mortgage lender as a template: Date