MichelePetry

Before buying property, it’s crucial to check for existing easements on property, which are legal rights allowing others to use your land. Review title reports, surveys, and plat maps. Contact utility companies and the county recorder. Ask the seller about any easements. Easements can impact property use and value, so thorough due diligence is essential. […]

A chattel mortgage can be a smart financing option for business equipment, offering immediate ownership, tax benefits, and fixed payments. Ideal for small businesses needing essential tools, it uses the equipment itself as collateral. Compared to leasing or business loans, chattel mortgages may provide greater long-term value—especially when paired with GST claims and depreciation. However,

Community Seconds, secondary financing for down payments and closing costs, come in two main types impacting repayment terms of Community Seconds: forgivable and deferred loans. Forgivable loans are repaid only if conditions like a minimum occupancy period (typically 3-10 years) aren’t met, with the loan amount progressively “forgiven.” Deferred loans, on the other hand, require

It’s common for your mortgage to be sold after closing, especially when dealing with correspondent lenders. loan is typically sold after closing by correspondent lenders These lenders originate, underwrite, and fund the loan using their own money, but the loan is typically sold after closing to a larger investor like Fannie Mae or Freddie Mac.

Zoning laws, set by local governments, dictate how land can be used, significantly impacting property rights.  These regulations classify areas for residential,  commercial, or industrial use and impose restrictions on construction, density, and even permitted activities like home-based businesses or short-term rentals. Consequently, a homeowner’s bundle of rights may be limited by zoning laws, affecting

After paying off your mortgage, it’s crucial to verify the lien’s removal from your property title to ensure clear ownership. Your lender should send a “Satisfaction of Mortgage” or “Release of Lien.” If not received within 30-90 days, search your county’s public records or get a title search. If the lien persists, contact your lender,

A Quiet Title Action is a legal process to resolve property ownership disputes and clear defects on a home’s title, ensuring clear ownership. This action becomes necessary in various scenarios, including when a Deed of Reconveyance goes missing, leading to an uncleared lien, or in cases of inherited property, boundary disputes, or errors in public

Can bankruptcy eliminate post-foreclosure debt? Yes, both Chapter 7 and Chapter 13 bankruptcy can discharge or restructure mortgage deficiency debt. Chapter 7 offers quick relief by wiping out unsecured debts, including deficiencies, typically within months. Chapter 13 provides a 3-5 year repayment plan, after which remaining qualifying debt is discharged. Choosing bankruptcy depends on your

  Are you eligible for a VA loan but unsure where to begin? Whether you’re a first-time homebuyer, a seasoned real estate investor, or a professional helping military clients, understanding the VA loan process from start to finish is crucial. The VA loan is one of the most powerful tools available to military service members,

Mortgage laws differ by state: Lien Theory states (e.g., FL, TX) see the borrower holding legal title, with the lender having a lien. Title Theory states (e.g., CA, AZ) have a trustee holding legal title until the loan is paid. Understanding how defeasance clauses operate differently in lien vs. title theory states is key; in