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Some states require a survey for a mortgage loan as part of the closing process to confirm the property boundaries and identify any potential issues. Requirements vary by state and lender, so it's important to check with your specific state's laws and your lender's policies. Some common states that may require a survey include Texas, Florida, and New York.
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What states require surveys for mortgage loan closings?
Some states require surveys for mortgage loan closings, such as Texas, Florida, and New York. It is recommended to consult with a local real estate attorney or title company to determine the specific requirements in your state.
Is it legal to require a satisfaction for an unrecorded mortgage?
It depends on the laws in your specific jurisdiction. In some places, it may be legal to require a satisfaction for an unrecorded mortgage as a condition of the loan agreement, while in others it may not be enforceable. It is advisable to consult with a legal professional in your area for specific guidance on this matter.
Example of an Default of the debtor?
An example of default by a debtor could be when they fail to make payments on a loan or mortgage as agreed upon in the terms of the contract. This could result in late fees, penalties, and ultimately, repossession of the collateral if the default continues.
What is the name given to someone who borrows money?
The lender loans money to the borrower.The borrower takes the loan out with the lender.The borrower is then in debt (owes money) to the lender and the lender is in credit with the borrower and will want the borrower to pay him/her back.
Can you go to jail in South Carolina for defaulting on a payday loan?
No, you cannot go to jail in South Carolina for defaulting on a payday loan. Debtors' prisons are illegal in the United States, and failing to repay a payday loan is a civil matter, not a criminal offense. However, the lender can take legal action to collect the debt through a civil court.
What states require surveys for mortgage loan closings?
Some states require surveys for mortgage loan closings, such as Texas, Florida, and New York. It is recommended to consult with a local real estate attorney or title company to determine the specific requirements in your state.
WHAT STATES REQUIRE SURVEY FOR LOAN CLOSING?
New York New Mexico
What are some mortgage loan companies based in the United States?
Some mortgage loan companies based in the United States are as follows: the Federal National Mortgage Association (known as Fannie Mae), Government National Mortgage Association (known as Ginnie Mae), and the Federal Home Loan Mortgage Corporation (known as Freddie Mac).
What tests do you need to take to get a mortgage broker license?
Each state has it's own exam for mortgage brokers. Before you can take the test most states require a criminal background check also. Many states also require that you post a bond. If you intend to loan less than 20 million$ you have to post a bond of 20000$.
When you get a loan modification do they verify income?
Yes. Any time the bank modifies a mortgage it will require income verification.Yes. Any time the bank modifies a mortgage it will require income verification.Yes. Any time the bank modifies a mortgage it will require income verification.Yes. Any time the bank modifies a mortgage it will require income verification.
Is a mortgage considered a bond type security?
No. A mortgage is a loan secured by real estate.No. A mortgage is a loan secured by real estate.No. A mortgage is a loan secured by real estate.No. A mortgage is a loan secured by real estate.
Can you get a loan with a 616 credit score?
Most lenders require at least a 640 credit score for a mortgage.
How can one get approved for a 2nd mortgage loan?
If one were interested in getting approved for a second mortgage loan they would need to have assets, a good credit rating and a consistent income. Some banks may require more.
How can I pay my mortgage loan on-line?
“How can I pay my mortgage loan on-line?”
What is a Open end mortgage loan?
What is a Open end mortgage loan?
What are some benefits of Bank of America mortgage loans?
Bank of America is one of the largest banks in the United States. The benefits of a Bank of America mortgage loan are competitive interest rates, mortgage planning tools, and a variety of loan options.
Do you have to carry mortgage insurance?
No you don't have to, but you would be a fool not to carry enough insurance to cover your mortgage! However, most mortgage lenders do require it, and if so, they will not make the loan if you refuse to carry the mortgage insurance. In that case, the choice is yours.
