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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 Federal Housing Administration (FHA) ReaL Estate Basics part 2 Due Dilegence 101 Or What You Do Not Know Can Kill You! - Part 1 A Critical Guide to Home Loans: Your Options and How They Affect Your Future What's Missing on Most Home Buyer's Checklists? The Costs of Transforming Your Home into a Buyer's Dream House Home Buyers Your Price, Not the Listing Price Understanding Real Estate Terminology How to Make a Wise Home Purchase and Avoid the Top 14 Home Buyer's Mistakes Real Estate Investors - Red Alert
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