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Mortgages
Using property (e.g. normally real estate) as collateral to obtain a loan that is paid by the borrower in installments.
9,165 Questions
Is Bloom Law Group in Woodland Hills a good law firm for mortgage resolution?
After trying 2 other law firms that just took my money for doing exactly what I was doing (submitting the hardship paperwork) and never got it done, I hired Bloom through a friend's referral. They did some things that the other law firms didn't do and they got it done in about 4 months. Long story short, my payment went from $1800 down to $900 and my interest rate went from 7.75% down to 2%. I couldn't be happier. I was hoping to just buy myself some more time in the house, so when they actually got it approved I was shocked. Don't give up on your house! These banks got billions in gov't money, so don't be afraid to fight for your house. I am so relieved I don't have to go rent and get to keep enjoying my home and the tax benefits. Bloom Law Group was a blessing. I highly recommend them. They are the real deal.
What to do if U can not pay mortgage?
Call or visit the mortgage company. Mostly they do not want you to lose your home and will help you devise a mutually satisfactory solution. Do not delay with this, act as soon as possible.
Can a beneficiary deed be official if it is notarized?
Yes, a beneficiary deed can be considered official if it is notarized, as notarization helps to validate the authenticity of the signatures and the intent of the parties involved. However, for the deed to be effective, it must also be properly recorded with the appropriate county office where the property is located. Simply notarizing the deed without recording it may not suffice to transfer the property upon the owner's death. Always consult legal counsel for specific requirements and implications in your jurisdiction.
What best describes an assumable mortgage?
An assumable mortgage is a type of home loan that allows a buyer to take over the seller's existing mortgage, including its interest rate and terms, rather than obtaining a new loan. This can be beneficial for the buyer if the original loan has a lower interest rate than current market rates. However, the lender typically needs to approve the buyer’s assumption of the mortgage, ensuring they meet credit requirements. Assumable mortgages can streamline the purchasing process and provide potential savings for the buyer.
A mortgage assignment is a legal document whereby a lender transfers all its rights under a note and mortgage to another lender. The property owner continues to make their payments to the new owner of that mortgage.
Why did the regulators not stop the excesses in the mortgage market?
There were three main reasons.
1) Lack of Power: The regulators were stripped of much of their investigative power by a number of conservative lobbying groups. The restrictions included how often they could perform spot-inspections (this is when a company has an inspection without warnings), the ambit of files they could examine (this is the variety and number of files the inspectors could look act), and funding (the regulation agencies were given less money and, therefore, had fewer personnel working fewer hours.
2) Lack of Knowledge: The new mortgage-backed securities and other financial products were very complex and very poorly understood. Both regulators and financial institutions did not know the extent to which these new financial products could destroy the economy and, therefore, there was not an active vigilance over these products as there should have been (had regulators known then what they know now).
3) Quasi-Legal: Most of what the bankers were doing may have been immoral, but it had not clearly been established to be illegal. As a result, the regulators did not know how to hold the bankers accountable since the standards and laws did not match the ongoing activities.
What is the best bank to refinance mortgage?
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Is it true or false that a mortgage is a type of unsecured loan?
It is false. A mortgage is a secured loan. The house itself is the security.
Is P O Box 78420 the address for Mortgage payments?
To determine if P.O. Box 78420 is the correct address for mortgage payments, you should check your mortgage statement or contact your mortgage lender directly. Addresses for payments can vary by lender, and it's crucial to use the correct one to ensure your payment is processed properly. Always confirm the address through official channels to avoid any issues.
What is the legal process for transferring ownership of property between NOTE HOLDERS?
Lenders transfer their interest in and rights under the note by executing an assignment of the note and mortgage and then recording that assignment in the land records.
Means its successors and/or assigns as their interests may appear.
How does cosigning for a mortgage differ from a joint mortgage?
A joint mortgage is executed by two people who own real estate. Each is responsible for paying the mortgage in full.
A co-signer has no ownership interest in the property but they have agreed to pay off the mortgage if the primary borrower fails to pay. In other words, they agree to pay the mortgage for property they don't own.
