Search Results for law tag:searchlightcrusade.net,2024:/mt//feed/law 2024-06-14T08:40:51Z Movable Type 4.21-en 236 1 236 Can You Get A Mortgage On a Condemned House? tag:www.searchlightcrusade.net,2008://3.3822 2024-06-11T14:00:00Z 2024-06-11T15:32:05Z Dan Melson http://www.searchlightcrusade.net/ The answer is a modified no. The same answer applies to property that is only structurally damaged, but not condemned. That condemnation is a matter of public record. I've seen any number of them while perusing title records. It shows... Lenders Adding A Prepayment Penalty After Funding tag:www.searchlightcrusade.net,2008://3.3820 2024-05-27T14:00:00Z 2024-05-27T13:21:52Z Dan Melson http://www.searchlightcrusade.net/ I recently closed a mortgage loan. The loan officer told me there would be no prepayment penalty. When the documents came there was none and the loan funded and closed. Two weeks later I got an e-mail stating some... Buyer's Agency, Due Diligence, and the Illusion of Comity tag:www.searchlightcrusade.net,2009://3.4853 2024-04-01T14:00:00Z 2024-04-01T12:38:30Z Dan Melson http://www.searchlightcrusade.net/ Somebody sent me this story via e-mail: Feeling Misled on Home Price, Buyers Sue Agent Marty Ummel feels she paid too much for her house. So do millions of other people who bought at the peak of the housing... Buying and Selling Properties with Unpermitted Additions tag:www.searchlightcrusade.net,2009://3.4847 2024-03-04T15:00:00Z 2024-03-04T16:11:01Z Dan Melson http://www.searchlightcrusade.net/ Unpermitted additions are popular in California because of property tax implications. You see, due to Proposition 13 back in 1978, taxable assessments are based upon purchase price plus no more than 2% per year since acquisition (although if you... Why the Current State of New Developer Housing tag:www.searchlightcrusade.net,2008://3.3770 2024-01-22T15:00:00Z 2024-01-22T17:05:39Z Dan Melson http://www.searchlightcrusade.net/ I've seen many new home developments with vaulted ceilings, mini-vineyards, huge houses on little tiny lots...Why can't some developer built some homes for us regular people? A normal sized home with plenty of closet space and a decent (not... Fear and Greed, or How Did The Housing Bubble Get So Big? tag:gockel.hmdnsgroup.com,2006:/~searchli//3.2456 2023-12-18T15:00:00Z 2023-12-18T15:48:25Z Dan Melson http://www.searchlightcrusade.net/ (This was originally written February 16, 2006, but it's relevant still) One of the occasional questions I get from people has to do with why the housing bubble got so big (or if you're one of those still in denial... What Do You Mean Back To Basics? tag:www.searchlightcrusade.net,2009://3.4837 2023-11-13T15:00:00Z 2023-11-13T14:18:25Z Dan Melson http://www.searchlightcrusade.net/ For a period of several months when the market started imploding, I got mass messages from basically every lender I do business with, saying it's time to "get back to basics". My favorite A paper lender became the last to... Getting Another Mortgage Loan After A Short Sale tag:www.searchlightcrusade.net,2009://3.4835 2023-10-23T14:00:00Z 2023-10-23T16:28:51Z Dan Melson http://www.searchlightcrusade.net/ Our home isn't worth what we owe. So say you were just an average person selling and buying a house, meaning you put your house up for sale, get a contract to purchase on it then go put in offer... Quitclaiming Property with a Mortgage tag:www.searchlightcrusade.net,2009://3.4834 2023-10-16T14:00:00Z 2023-10-16T15:14:22Z Dan Melson http://www.searchlightcrusade.net/ I am currently living with my parents and they wish to deed of gift their house to me but they still have a remaining mortgage on it. Is it possible to do this or do they have to pay off... Title Insurance, Unpaid Liens After The Sale, and Subrogation tag:www.searchlightcrusade.net,2007://3.3749 2023-10-09T14:00:00Z 2023-10-09T16:01:46Z Dan Melson http://www.searchlightcrusade.net/ I sold my house in (state) in august 2001 I hired a title attorney whose (local company X) acted as a agent for (national company Y). The facts are that there were errors and omissions which led to negligence... Straw Buyers and Straw Purchases are Always Fraud tag:www.searchlightcrusade.net,2007://3.3747 2023-10-02T14:00:00Z 2023-10-02T16:14:18Z Dan Melson http://www.searchlightcrusade.net/ I've gotten several emails to articles recently having to do with straw buyers, and more search hits. Straw buyer fraud is popular because people want a better loan and many don't see anything wrong with it since "we intend to... Dual Agency: Using the Seller's Agent as Your Buyer's Agent tag:www.searchlightcrusade.net,2007://3.3727 2023-07-25T14:00:00Z 2023-07-25T17:24:42Z Dan Melson http://www.searchlightcrusade.net/ Is it unwise to use the listing realtor as your purchase realtor? A house I'm interested in purchasing is being sold by the realtor selling my house. Although she's done a decent job selling my house, I fear she... Buying Without An Agent - My Own Experience tag:www.searchlightcrusade.net,2009://3.4822 2023-05-30T14:00:00Z 2023-05-30T15:30:11Z Dan Melson http://www.searchlightcrusade.net/ I had the idea for this article some time ago. It took me a long time to decide to share it publicly, because quite frankly, knowing what I know now, I was an idiot. I was still young enough to... Transferring Ownership of Inherited Property tag:www.searchlightcrusade.net,2007://3.3699 2023-05-02T14:00:00Z 2023-05-02T14:40:53Z Dan Melson http://www.searchlightcrusade.net/ How do you transfer house ownership after someone dies and leaves you the house in a will? The will must be probated. Once all debts of the estate are paid and the court agrees to a final disposition of... Condominium HOA and Other Common Interest Assessments tag:www.searchlightcrusade.net,2009://3.4814 2023-04-24T14:00:00Z 2023-04-24T15:46:17Z Dan Melson http://www.searchlightcrusade.net/ I bought a condo in DELETED, CA. Zero down. For 7 months I paid every bill on time - mortgages, HOA and taxes until... The Homeowner's Association told us that we MUST pay a $20,500 special assessment. My realtor... Can You Keep Your Home Through Bankruptcy? tag:www.searchlightcrusade.net,2009://3.4810 2023-04-10T14:00:00Z 2023-04-10T14:35:35Z Dan Melson http://www.searchlightcrusade.net/ The answer is "Yes." You don't have to lose your home in bankruptcy. I've done loans for many clients who kept their homes through bankruptcy. But they kept their mortgage payments current, or close enough to current. The condition... Why Do I Have to Pay For The Appraisal When I Canceled Escrow? tag:www.searchlightcrusade.net,2007://3.3692 2023-03-27T14:00:00Z 2023-03-27T15:22:11Z Dan Melson http://www.searchlightcrusade.net/ I got an ill-mannered complaint email about how an evil loan officer from another company ordered the appraisal without waiting for the inspection to be done, and it turned out there was a minor problem that the seller likely could... Lenders and Insurance Proceeds tag:gockel.hmdnsgroup.com,2006:/~searchli//3.2410 2023-03-21T14:00:00Z 2023-03-21T12:24:22Z Dan Melson http://www.searchlightcrusade.net/ The question that inspired this was can a mortgage company use the flood insurance claim money towards homeowners mortgage loans? This is equally applicable to every other form of insurance on your home - earthquake, regular homeowner's insurance, and any... Deficiency Judgments: Recourse Loans vs. Non-Recourse Loans tag:www.searchlightcrusade.net,2007://3.3686 2023-02-27T15:00:00Z 2023-02-27T15:57:56Z Dan Melson http://www.searchlightcrusade.net/ do mortgage companies usually seek a deficiency judgment on home foreclosures Depends upon whether it is a recourse loan or not. A recourse loan is one where the lender can come after you for any excess amount of money you... How to Avoid A Repeat of the Housing Market Mess tag:www.searchlightcrusade.net,2009://3.4805 2023-01-31T15:00:00Z 2023-01-31T16:41:28Z Dan Melson http://www.searchlightcrusade.net/ Scapegoating mortgage brokers or anyone else is not the answer, nor is prohibiting yield spread. We've been here before (in the early 1990s), congress did something remarkably similar except a little bit more sane. It didn't work then. Why would...