Real estate blog entries tagged with acceleration clause by Lynnette Phillips Real Estate Consultant

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Home : Blogs : Lynnette Phillips Real Estate Consultant : Lynnette's Blog : Tag "acceleration clause"

acceleration clause: Short Sales, Quit Claim Deeds, Acceleration Clauses & Foreclosure - 08/26/08 12:14 PM

A report published by FREDDIE MAC (Federal Home Loan Mortgage Corporation) tells us that "fewer than half of homeowners contact their lenders before entering foreclosure". These homeowners are not only missing out on the assistance they might be able to receive from their lender, they more than likely do not know that are entitled to talk to a counseling agency. Others mistakenly believe that transferring title to the property will solve the problem.
Many homeowners who find themselves facing foreclosure proceedings labor under the misconception that the banks or lenders want their home; this is not true. The foreclosure will cost … (5 comments)

acceleration clause: Title Transfer and Acceleration Clauses - 06/08/08 07:41 PM

Lately I have received quite a few questions about using a quit claim deed to relinquish titles to property, usually turning title over to a relative, while the current owner continues to make the payments on a mortgage signed by him or her.
While this seems incredibly generous on the part of the mortgagor (the borrower) this could create a problem. The mortgagee (the lender or creditor) holds a note secured by the property that will no longer be held in title by the person who signed the loan agreement. For this reason most mortgages or trust deeds today contain alienation … (2 comments)

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Lynnette Phillips Real Estate Consultant

Yucaipa, CA

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**The Posts and Comments contained in this blog are not intended as legal advice.**