Mortgage Assumptions: What Are They?
Mortgage Assumptions: What are they? An assumption clause in a mortgage allows the owner/seller of a home to pass the responsibility for their existing mortgage to the buyer of the property. Let’s assume you have a home worth $400,000 with a 30-year FHA loan on it....
Purchase Money Mortgages: How Do They Work?
Purchase Money Mortgages: How Do They Work? When you are looking to purchase a house and get a mortgage you are agreeing to repay a borrowed amount of money to a lender in a certain amount of time. You are also subject to paying a little more than the original loan...
What Is Title Insurance and Who Needs It?
Who Needs Title Insurance? When you’re in the market for a new home, you may be curious about the age of the property’s roof and windows, or you might want to know when you’ll need to replace the furnace. The last thing on your mind is likely any problems that...
Covering All Your Bases: The Need for Title Insurance and Property & Casualty Insurance
Covering All Your Bases: The Need for Title Insurance and Property & Casualty Insurance When you purchase just about any type of insurance policy, what you’re essentially buying is peace of mind — and title insurance is no different. As a homebuyer, you can...