Jon Sandler's blog

HUD RULE INTENDED TO STOP FLIPPING

Undefined

The HUD rule makes recently flipped properties ineligible for FHA mortgage insurance. It also allows FHA to better manage its insurance risk by requiring additional support for a property's value when a significant increase between sales occurs.

Features include:

Sale by Owner of Record: Only the owner of record may sell a home to an individual who will obtain FHA mortgage insurance for the loan; it may not involve any sale or assignment of the sales contract, a procedure often observed when the homebuyer is determined to have been a victim of predatory practices.

Investor’s Advantage: 1031 Tax Exchange

Undefined

WHAT IS A TAX FREE EXCHANGE?
Partially born in the summer of 1990, Section 1031 of the U.S. Internal Revenue Code, allows investors to trade one property for another without paying federal income taxes on the transaction -- provided certain qualifications are met. This makes it possible for investors to sell and buy property of “like-kind” while deferring tax consequences.

“DUE ON SALE” CLAUSES - Exemptions

Undefined

"DUE ON SALE” CLAUSES  - EXEMPTIONS FOR RESIDENTIAL MORTGAGES under the Garn-St. Germain Act.

HOMEBUYERS PROTECTION AGAINST CREDITORS?

Undefined

First time homebuyers often ask us whether there is a way to protect themselves and their home against creditors.  Do you know what it is?  There is a special tenancy or type of property ownership that is available only to married couples.  This is called a tenancy by the entireties.  Husband and wife own the property as one person, each possessing their right to the undivided whole, and each retaining a right of survivorship.  Upon the death of one spouse, the title automatically passes to the survivor without probate or other action.  Neither spouse can sell or encumber the property witho

Why Title Insurance?

Undefined

A clear title guarantees the real estate you’re buying is
truly yours
▪ For a one-time premium, an Owner’s Policy protects you
from title threats undiscovered at time of closing for as long
as you own the property
▪ The title insurance policy acts as vital protection against
certain title issues that are undiscoverable from public
records such as forgery, lack of capacity in prior transactions,
and more.
▪ Title insurance is, in effect two policies in one. One provides
coverage for legal expenses to defend title. The other

What is Title Insurance?

Undefined

Read more about what the title business is all about, and why it's important to you as a home buyer. 

Securing Your Home Ownership 

Subscribe to RSS - Jon Sandler's blog