How should I "take title?"
Here's a start (seek legal advice)

I was asked to pay an advance fee for a loan. It sounded fishy so I didn't pay. Is it legal?
Nope. No one can ask for or accept money for their service until a loan is made.

I bought a home recently and never received a copy of the $350 appraisal?
Shouldn't my lender have given me a copy?
Yes, most assuredly, within 15 days of its receipt. You paid for it; however, the appraiser is the lender's client.

What is "seller carryback?"
The second trust deed which is held by the seller instead of a higher cost 2nd issued by a mortgage company.

What is Net Operating Income (NOI)?
Actual earnings, after deducting all expenses, including interest and depreciation from gross sales/income.

Are Reverse Mortgages recommended?
It depends: for those over 62 who have substantial equity in their homes and want to spend their "twilight years" in the house.

What is a "Due on Sale Clause?"
If a loan is not paid off at time of sale (buyer "assuming without qualifying), the loan can be foreclosed.

What is RESPA?
Real Estate Settlement Procedures Act. Requires lenders to disclose the loan costs. Demand a Good Faith Estimate when working with a lender.

More RE Questions and Answers

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