Content Related To 'Mortgage Law'
The Laws Governing Landlord –Tenant Relationships In most states, the laws establishing the rights and responsibilities of landlords and their tenants are a blend of statutory and common law. Typically, states have enacted legislation governing the relationship, but the courts get involved in construing the provisions of the statutes. A number of states have passed […]
Subprime Mortgage Crisis The current mortgage crisis has brought to light subprime mortgage lending. A subprime mortgage is a loan granted to borrowers with poor credit ratings who cannot qualify for a conventional mortgage. Because of the increased risk to the lender in this type of loan, the lender charges an interest rate above the […]
Loan Questions Mortgage Answers How can I protect myself from dishonest lending practices, such as misrepresentation of mortgage terms? Both federal and state laws protect borrowers. Many states have increased protection because of the current mortgage crisis. Familiarize yourself with the basics of lending laws by finding out what is prohibited, then read every document […]
Foreclosure Foreclosure is a legal process in which a borrower in default on a mortgage loses his or her property. The process allows a bank or other creditor to sell or repossess the property because of the borrower’s violation of the mortgage contract. Types of Foreclosures Depending on the terms of the mortgage contract, a […]
Real Estate Law Websites General ABA Section of Real Property, Trust & Estate Law – Links to member information, CLE courses, publications (e.g., Probate and Property Magazine), and other resources. Real Estate Transactions – Offers an overview of this area of law. Also links to federal and state statutes, important case law, and more. Real […]
Mortgage Documents A mortgage involves two important legal documents: a promissory note and either a mortgage document or deed of trust. The Promissory Note The promissory note (also called a mortgage note or real estate note) is a note the buyer gives to the lender promising to repay the amount of the loan plus interest. […]
The American Dream — or Not What the Subprime Mortgage Lending Crisis Means to Americans by James R. Nowlin III, Esq. Feb. 28, 2008 What was once the fast track to home ownership is now one of the weakest links in America’s economy. The subprime mortgage lending meltdown has had a dramatic impact on the […]