Involuntary Foreclosure – David Reecher When a borrower defaults on a home mortgage loan and the lender initiates proceedings to take possession of the house and sell it to recover the debt. In an i...Read More
Deed of Reconveyance – David Reecher A deed or reconveyance is a document issued by a mortgage holder indicating that the borrower is released from the mortgage debt and transfers the property title...Read More
Deficiency Judgment – David Reecher A judgment made by a court against a debtor indicating that the sale on a foreclosed piece of property did not cover the outstanding mortgage in full. It is a lie...Read More
Due-on-Sale Clause – David Reecher A provision in a mortgage contract that requires the mortgage to be repaid in full upon a sale or conveyance of partial or full interest in the property that secur...Read More
Encroachment – David Reecher A situation where a property owner violates the property rights of his neighbor by building something on the neighbor’s land or by allowing something to hang over...Read More
Understanding a Short Sale – David Reecher A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their house than they are worth. In the past, it was rare fo...Read More
What is an Escrow Agent? – David Reecher An escrow agent is a person or entity that holds property in trust for third parties while a transaction is finalized or a disagreement is resolved. The role...Read More
The Fair Housing Act – David Reecher The Fair Housing Act (Title VIII of the Civil Rights Act of 1968) prohibits discrimination in the buying, selling, rental or financing of housing based on race, ...Read More
Fixed Price Purchase Option – David Reecher The right, but not the obligation, to buy a leased item at a predetermined price. With a fixed price purchase option, the purchase price is established wh...Read More
Gentrification – David Reecher Gentrification refers to a process of urban renewal wherein a neighborhood or city develops economically so that original residents are displaced. It is often defined ...Read More
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