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The document used by lenders to obtain a lien on real property is a mortgage or deed of trust. The security agreement sets out the various rights the grantee will have with respect to the collateral, which are in addition to all other rights which the lender may have by law, such as those rights contained in Article 9 of the Uniform Commercial ...
A loan guarantee, in finance, is a promise by one party (the guarantor) to assume the debt obligation of a borrower if that borrower defaults. A guarantee can be limited or unlimited, making the guarantor liable for only a portion or all of the debt.
A guarantor is a person who agrees to repay the borrower’s debt should the borrower default on agreed repayments. The guarantor is often a family member or trusted friend who has a better credit history than the person taking out the loan and the arrangement is, therefore, viewed as less risky by the lender.
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 party is qualified under lender or guarantor guidelines. [1]
When you think of investing in real estate, you might envision purchasing a property to rent, or buying and flipping a home. Yet, both of those options put you on the financial hot seat because you...
A landlord's deductions from a tenant's security deposit must be reasonable. The landlord may make deductions for missing rent payments and for damages beyond ordinary wear and tear, which is the subject matter's depreciation or deterioration in value by reasonable and ordinary use by the tenant.
Any co-borrowers or guarantors are still liable for the debts, and creditors can pursue those parties even while an automatic stay is in place for the individual who filed for bankruptcy. How long ...
For one thing, if the targeted property is vacant land, it can be months — or even years — before the real owner even discovers the fraud. Also, this type of scam is not a separate category in ...
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