A defeasance clause in a mortgage agreement ensures that the lender's claim is nullified once the loan is fully paid, providing legal release provisions tied to your original mortgage. This…
After paying off your mortgage, ensure you receive a "Deed of Reconveyance" (in trust deed states) or "Satisfaction of Mortgage" (in traditional mortgage states). It's critical to record your Deed…
Upon mortgage payoff, a Deed of Reconveyance legally removes the lender's lien in trust deed states. It's crucial for clear title. If your lender doesn’t issue or record it promptly,…
For fixed-rate vs. ARM loans for first-time homebuyers, ARMs offer lower initial payments, appealing to those seeking affordability or planning short-term ownership (e.g., 5-7 years) in a starter home. This…