| Residential Real Estate Sales -- The Final Walk-Through |
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| In connection with a residential real estate sale, it is not uncommon for a buyer to "walk through" the house one or more times before the closing takes place.
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| Foreclosure and Redemption of Residential Purchase-Money Mortgages |
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| Typically, a purchaser of residential real estate pays for the property with funds that are obtained from a lender, called the mortgagee, through a mortgage transaction. In exchange for the funds, the purchaser, called the mortgagor, promises to repay the funds and gives the mortgagee a security interest in the property to secure the repayment. In the event that the mortgagor does not repay the funds as required by the mortgage document or is otherwise in default, the mortgagee may foreclose on the mortgage. More... |
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| The Home Mortgage Disclosure Act |
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| In 1975, Congress enacted the Home Mortgage Disclosure Act (HMDA). The statute can be found at 12 U.S.C.S. §2801. More... |
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| Interstate Land Sales Full Disclosure Act |
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| In 1968, Congress enacted the Interstate Land Sales Full Disclosure Act, 15 U.S.C.S. § 1701 (1998). In enacting the law, it was Congress' purpose to eliminate fraud in interstate sales of land. Briefly stated, the law requires certain disclosures in connection with the sale of vacant land. Despite numerous challenges since its enactment, the Interstate Land Sales Full Disclosure Act has passed constitutional muster.
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| Falling Behind on Your Mortgage Payments |
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| Many circumstances can cause a borrower to fall behind in his or her mortgage payments. More... |
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