When does the law allow you to treat potentially false claims as legitimate? More often than you’d think! For example, the word “owner” seems pretty basic, but in common legal contexts, “owner” technically means “person who claims to be the...
In real estate finance, a mortgagor is the party that borrows money and grants a mortgage on real property as security for the loan. The mortgagor pledges the property to the lender while retaining possession and use of it. The mortgagor is obligated to repay the loan...
In real estate finance, a mortgagee is the party that lends money to a borrower and receives the mortgage as security for the loan. The mortgagee holds a lien against the real property to secure repayment of the debt. The mortgagee is typically a bank, financial...
In real estate finance, mortgage servicing refers to the management and administration of a mortgage loan after it has been originated. It involves carrying out the ongoing duties of the mortgagee to ensure the loan remains in compliance with its terms. Mortgage...
In real estate finance, a mortgage loan disclosure statement is a document provided to a prospective borrower that outlines the material terms and costs of a proposed mortgage loan. The statement is prepared on a form approved by the Real Estate Commission and is...
In real estate finance, mortgage life insurance is a form of term life insurance written in an amount equal to the declining balance of a loan secured by a mortgage or deed of trust. As the loan balance is reduced over time, the amount of insurance coverage decreases...
