FORECLOSURE PROCESS

The Foreclosure process varies by state and you should always seek appropriate council to understand the complete process in your state. I wanted to touch briefly on the general process. Again this can vary depending on where you reside. Step 1 – Payment default...

CONTRACT FOR DEED

Contract for Deed refers to a real estate transaction that takes place between a buyer and seller with no lender involvement. It can also be known as installment purchase contract, land contract or bond for deed. The buyer makes their payments directly to the seller....

WHAT IS A HOLDOVER TENANT?

A Holdover tenant is a tenant who does not renew their lease or move out when the lease expires but continues to pay their rent. The landlord continues to accept the payments and the tenant continues to occupy the residence. If the landlord does not accept the...

MICRO-FLIPPING

We have all heard, or most of us, as flipping real estate. I have previously discussed this in an earlier blog. But have you ever heard of micro-flipping? You might have and not even been aware there was a term for it. An easy definition for micro-flipping is a short...

GIFTING AND RECEIVING MONEY FOR DOWN PAYMENTS

When obtaining a mortgage, lenders want to know where your down payment money is coming from. Sometimes it comes from your retirement account, bank account, a down payment assistance program and sometimes even gifted by someone. Today we are covering a gifted down...

LEASE-TO-BUY OR LEASE-TO-OWN

A lease option is a contract in which a landlord and tenant agree that the renter can buy the property at a specified price at the end of a specified period. The tenant will pay up-front option fee and an additional amount each month that goes toward the down payment....

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