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…
understanding your Adjustable-Rate Mortgage (ARM) loan agreement is crucial. It details the fixed-rate period, index your mortgage’s rate may be tied to the CMT index (like the 1-Year Treasury Constant…