The Facts About "Short Sells" from the KREC News Letter - 07/29/08 08:44 AM
Short Sales:  
Industry Expert Article
 By: Michelle Rawn
Borders & Borders Attorneys

Background 
It is impossible to turn on the TV or look at a newspaper without running into an article about the mortgage crisis that the country is currently experiencing. Due to lax lending practices, consumer spending practices and fluctuations in the housing market, there are many homeowners who need to sell their home but can't sell it for enough to pay off their loans. In addition, there are some homeowners who have fallen behind on their payments for a variety of reasons and are in various stages … (3 comments)

A Good Reason to Give Occupancy at CLOSING!!! - 07/26/08 03:37 PM
This is the answer from an insurance company in reference to whose insurance covers what when the seller occupies home after closing.
If Mr. Seller sells his house to Mr. Buyer and remains in the house for a period of time afterwards, he should maintain an insurance policy either on the house he has sold or on a policy for a different location.
This will give him coverage for his contents and for liability while he remains in the house. In the case of a fire, I would imagine that the buyer's homeowner's policy would be primary since the house is … (3 comments)

 

Fred Mocahbee

Florence, KY

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Best Results Realty LLC

Address: 7000 Houston Rd. Bldg. 200, #21, Florence, Ky., 41042

Office Phone: (859) 525-0222 x 8

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