Pre approval loan letters

This is an essential first step to shopping for a home. Realtors will even ask for a pre approval letter to begin the process. It simply confirms that you are qualified to buy.  Although you will not be utilizing that particular lender services, a pre approval letter proves that you are credit worthy for a

How to transfer the title.

Transferring ownership of a property requires the buyer to obtain a deed. A new deed will need to be executed and recorded. The seller and buyer can jointly change this at their county clerks office for a small fee. The document you want to use to change the deed is called a “Quit Claim Deed”.

Mortgage assumption protection

Knowing how to protect yourself from a fraudulent mortgage assumption is important. Don’t pay your mortgage payments to anyone other than your lender or loan servicer. Make sure the person who assumes the loan “records” your name with the trust company that holds the mortgage. If the person you are assuming the loan from doesn’t

A deed-in-lieu transaction. What do you get for it?

In March of 2013 Fannie Mae and Freddie Mac homeowners with hardships were offered an opportunity to turn over the house keys and erase their debt if they were not delinquent and only had 1  loan on the property. Loans with 2nd and 3rd mortgages could not qualify. Many may not have recognized what they

Refinance to get rid of your Underwater Mortgage balance

Take advantage of Obama’s “America Built To last” plan.  It calls to action any homeowner to simply refinance their home. Since all FHA & VA mortgages are protected by the government, the negative equity can be absorbed by the government. It is not a loan modification. This is only available through a new loan with

Release of Liability letter

An important part of the assumption package is the release of liability document. This protects the seller and is available for “All” assumable mortgages.  The Federal Housing Commissioner approved this March 20, 1990. See for yourself here. Without a release of liability the bank might have the right to collect the balance due if the

Assumable Mortgages – What is the sellers incentive?

Here are a few fundamental reasons. Attractive Pricing Sells The assumable price is more attractive to buyers.  1. Buyers do not need any out of pocket money to assume a loan. 2 Buyers with Lower credit Scores can afford a home. 3 Buyers Avoid PMI because many of these loans no longer have it, and

Reach your target market

Your assumable property will meet the needs of the average online house hunter.  Why? Assumable properties are typically valued between $100K-$500K. This price point appeals to the largest audience of on-line buyers and accounts for almost 90% of the market.  You can expect good results when you list the home yourself in this case.  If

How do I change the deed to my property?

The seller and buyer can jointly change this at their county clerks office for a small fee.  The document you want to use to change the deed is called a “Quit Claim Deed”.  While its recommended to consult with a property attorney before filing a new deed, you can prepare the document yourself. Sometimes this

Generate buyer leads for your properties

Showcase any real estate property that has assumable financing with All leads are free and automated so that Realtors can continue to facilitate the entire sale. Whether you are the listing agent, or a realtor who would like to represent pre approved buyers, it is easy to upload property details and images.  You will