Month: June 2017
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 Clear Title
Clear Title – David Reecher A title that is free of liens or legal questions as to ownership of the property.... Read More Chain of Title
Chain of Title – David Reecher An analysis of the transfers of title to a piece of property over the years... Read More 