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Once you pay off your mortgage, the mortgage lender — also referred to as the “trustee” — creates the deed of reconveyance document. The lender then signs this document and has it notarized.
Accord and satisfaction is a settlement of an unliquidated debt. For example, a builder is contracted to build a homeowner a garage for $35,000. The contract called for $17,500 prior to starting construction, to disburse $10,000 during various stages of construction, and to make a final payment of $7,500 at completion.
Ademption by satisfaction, also known as satisfaction of legacies, is a common law doctrine that determines the disposition of property under a will when the testator has made lifetime gifts to beneficiaries named in the will.
Afterward, Jefferson’s bank disputed the mortgage payment amounts, and according to the broadcaster, in 2019, the bank filed a motion for summary judgment to take the house. It’s now in ...
A wraparound mortgage, more commonly known as a "wrap", is a form of secondary financing for the purchase of real property. [ 1 ] [ 2 ] The seller extends to the buyer a junior mortgage which wraps around and exists in addition to any superior mortgages already secured by the property.
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
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