Commission

Commission – David Reecher Most salespeople earn commissions for the work that they do and there are many sales professionals involved in each transaction, including Realtors, loan officers, tit... Read More

Collection

Collection – David Reecher When a borrower falls behind, the lender contacts them in an effort to bring the loan current. The loan goes to “collection.” As part of the collection eff... Read More

Collateral

Collateral – David Reecher In a home loan, the property is the collateral. The borrower risks losing the property if the loan is not repaid according to the terms of the mortgage or deed of trus... Read More

Cloud on Title

Cloud on Title – David Reecher Any conditions revealed by a title search that adversely affect the title to real estate. Usually clouds on title cannot be removed except by deed, release, or cou... Read More

Closing Costs

Closing Costs – David Reecher Closing costs are separated into what are called “non-recurring closing costs” and “pre-paid items.” Non-recurring closing costs are any ite... Read More

Closing

Closing – David Reecher This has different meanings in different states. In some states a real estate transaction is not consider “closed” until the documents record at the local rec... Read More