Mortgage Agreement Help Guides

What is a security interest?
A security interest is an interest in property—real estate or otherwise—that secures repayment of a debt or performance of some other obligation. If the party that grants the security interest fails to fulfill its obligation, then the holder of the security interest can normally take possession of the asset in question and sell it in order to recoup...
How to Effectively Use LLCs in a Property Rental Business
Using a limited liability company for a rental property business is one of the better decisions you could make. If you rent property in your name, you could be held liable if someone gets hurt. However, if someone falls and decides to sue the landlord, and your LLC is the landlord, then the person suing may only go after the LLC's assets—not your pe...
Right of Survivorship: Everything You Need to Know
There are many things you should consider when you are purchasing property with another person. One of these things is called the right of survivorship. Right of survivorship can impact what happens to a property if one of the owners passes away before the other one. It is important to understand how this right works and how it can impact various fa...
Business Formation for Real Estate Investments
Real estate can be a great investment if you plan it correctly. Since the housing market bust in 2008, investors have been wary of starting back up in real estate, but home prices have made a significant recovery since then. Nonetheless, the......
The Documents You Need to Buy a New Home
Purchasing your first home can be an extremely intimidating process. You are confronted by many terms that you may not understand, and you may not realize how many necessary steps there are in the process. To make matters worse, everyone else,......
Are Mortgage Rates Too Low?
In May 2016, homeowners were struggling with a rare problem: mortgage rates were insanely low that it made more financial sense NOT to sell your home. Right now, selling your home and buying a new one would likely mean trading in your low rate......
Closing a Home Sale: What to Expect
You have either agreed to sell or buy a home and the buyer has paid the earnest money putting the deal into escrow. Now it’s time to complete the final steps! This can be both an exciting and stressful time in getting all your affairs in order......
6 Ways to Defend Against Foreclosure on a Mortgage
When property is put in foreclosure, it means that the borrower is in default under the terms of the home loan and the lender is retaking title to the property. In states that allow use of a mortgage agreement, as opposed to a deed of trust,......
How New Lending Requirements Better Protect Homebuyers
In 2008, the Federal Reserve adopted a new Truth in Lending Act and then updated the act in 2010 with the Dodd-Frank Wall Street Reform and Consumer Protection Act (or Dodd-Frank Act for short). These acts were adopted to set up a system of......
How to Qualify for a Mortgage
The first step when contemplating buying a home is to figure out how much you can afford to spend. Knowing your price range will put your house hunt in perspective and help you narrow down your search. It is important here not to convince......