by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
Pre-foreclosure is the first stage in the legal process of a property being repossessed by a lender. A notice of default is filed by the lender when the owner exceeds the terms of the contract for delinquent payments. Pre-foreclosure is designed to allow homeowners...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
A pre-approval letter is an unofficial letter from a mortgage company that notifies the agents and sellers to the amount of money a buyer may borrow to purchase a house. Sellers may require that a buyer provide this document to ensure they are only entertaining...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
Easements allow the use of land by a third party for a specific purpose. For example, a utility company may hold an easement if they need to access power lines or cables that are on your property. Easements should be included in the disclosure...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
A person with power of attorney is allowed to execute legal documents on another person’s...
by Kayla Testaverde | Aug 29, 2022 | Real estate glossary
Mortgage points are fees that are paid to the lender at closing in exchange for a lower interest rate. Usually, one point costs 1% of the...
