Key TakeawaysWhen a reverse mortgage borrower dies, the loan becomes immediately due — heirs typically have 6 months (extendable) to…
Key TakeawaysA construction-to-permanent (C2P) loan combines a short-term construction loan and a long-term mortgage into one product, converting automatically when…
Key TakeawaysA credit score below 620 will make conventional mortgage financing very difficult; FHA loans allow scores as low as…
Key TakeawaysA zombie property is a home where the homeowner has vacated believing foreclosure was imminent, but the lender never…
Key TakeawaysPre-qualification is a lender's informal estimate of how much you might be able to borrow based on self-reported income…
Key TakeawaysThe grantor is the seller (the party transferring the property); the grantee is the buyer (the party receiving the…
Key TakeawaysForm 2553 is the IRS election form a corporation files to be treated as an S-Corp — it does…
Key TakeawaysAn appraisal contingency allows a buyer to exit the contract (and recover their earnest money) if the property appraises…
Key TakeawaysA quiet title action is a lawsuit filed to “quiet” (resolve) competing claims of ownership to a property and…
Key TakeawaysPre-foreclosure is the period after a borrower defaults but before the lender completes the foreclosure process — the borrower…