This is a re-print of an article I wrote for Real Estate Executive Magazine for this month’s issue. Mind the P&L, as in Payoffs and Liens Understanding your seller’s complete financial picture has long been a best practice of top producing REALTORS but that task has become more important and more complicated. It’s not just [...]
Toxic Titles: Part Two – “Don’t mind me if I put an extra lien on your home”, says bank.
December 14, 2009 By 1 Comment
Continuing the “Toxic Title” issue The second nasty title cloud appears when homeowners have modified their loan or taken the dreaded “HomeSaver Advance” which was rampant the last few years. Let’s examine the result of a typical HomeSaver Advanced deal. Imagine falling several payments behind and now you owe the bank $8,000 in past due [...]
Toxic Titles: Part One – “I don’t want THAT house”, says bank.
December 14, 2009 By Leave a Comment
There are several type of title cloud issues which are rearing their ugly head. The biggest two are: “Ops! I Changed My Mind I Don’t Want Your Home” and the “How Did This Extra Lien Get On My Home”. In this article we’ll cover the first one… Federal Reserve Board Governor, Elizabeth Duke, tackled this [...]
