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Mortgage Professor about home buyer: | |||||||||||||||||||||||
Are Mortgage Assumptions a Good Deal?
November 17, 2003, Revised December 20, 2005 ?I have been offered a deal where I take over the home seller?s mortgage. What are the pros and cons of doing this?? Benefit of Mortgage Assumptions to Buyers When a homebuyer assumes responsibility for a home seller?s ... more... What Is a Wrap-Around Mortgage? October 21, 2002 "What is a wrap-around mortgage, and who is it good for?" A wrap-around mortgage is a loan transaction in which the lender assumes responsibility for an existing mortgage. For example, S, who has a $70,000 mortgage on his home, sells his home to B for $100,000. B ... more... |
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home buyer related definitions |
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Escrow
Escrow An account held by the lender into which the home buyer pays money for tax or insurance payments. Also earnest deposits held pending loan closing. You'll ... more... Title Insurance Title Insurance A policy, issued by a title insurance company, which insures a home buyer against errors in the title search. The cost of the policy is usually a function of the value of the property, and is often borne by the purchaser and/or seller. Policies are also available ... more... |
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More about home buyer Key Terms to Know When Buying a Home New Home Buyers Who Represents You? Flat Fee MLS Listings - Is This The Future Of Real Estate Sell Your Home and Invest at the Same Time Some Things To Remember While Buying A House For The First Time For Sale by Owner - FSBO Escalation Clauses A Home Buyer's Secret Weapon Understand Mortgage Lender Responsibilities Before Your Application is Accepted FSBOs The Secret of 'After Settlement Escrow' to Solve Problems How to Sell Your Home by Owner And Double Your Profit When You Sell
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