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Did You Know?
Equity skimming is a type of scam
In this type of scam, a "buyer" approaches you, offering to get you out of financial trouble by promising to pay off your mortgage or give you a sum of money when the property is sold. The "buyer" may suggest that you move out quickly and deed the property to him or her. The "buyer" then collects rent for a time, does not make any mortgage payments, and allows the lender to foreclose.
Newsroom
News about real estate cases in Utah and nationwide:
Definition:
A mortgage with payments that remain the same throughout the life of the loan because the interest rate and other terms are fixed and do not change.
Freddie Mac
Definition:
Federal Home Loan Mortgage Corporation (FHLM); a federally-chartered corporation that purchases residential mortgages, securitizes them, and sells them to investors; this provides lenders With funds for new homebuyers.
Assumable mortgage
Definition:
A mortgage that can be transferred from a seller to a buyer; once the loan is assumed by the buyer the seller is no longer responsible for repaying it; there may be a fee and/or a credit package involved in the transfer of an assumable mortgage.
If you live in the following cities and need an real estate attorney you should contact
our Real Estate Attorney as soon as possible:
American Fork
Bountiful
Brigham City
Cedar City
Clearfield
Draper
Kaysville
Layton
Lehi
Logan
Magna
Midvale
Ogden
Orem
Pleasant Grove
Provo
Riverton
Roy
Saint George
Salt Lake City
Sandy
South Jordan
Spanish Fork
Springville
Tooele
Vernal
West Jordan
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general information related to real estate issues commonly encountered.
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Did You Know?