Archive for December, 2007
Deed Of Trust Colorado
December 31st, 2007
Question: Can any Mortgage Broker help us?
Two years ago we were closing on a house, but we backed out at closing when we noticed that the interest rate we were being charged was much higher than the rate we locked in. We never moved into the house, and it was subsequently sold to someone else.
We never signed the note or the Deed of Trust. Nevertheless, this mortgage appears on my credit report as unpaid for the last two years. I've attempted to remove it with no luck (I'm still working on it but it will take a while).
We're in Colorado. The house we want to currently buy is $340,000, and we can put 20% down. Yet the lenders we've spoken to have said they cannot get us a mortgage until the previous "unpaid" mortgage is off my credit report.
Is there anyone who knows how we can get a mortgage under these conditions? We're scheduled to close at the end of this month.
Thanks!
Answer: Yeah, something is fishy. I am a real estate pro. It makes no sense. I got a friend that lends in Colorado, and deals with hard cases. Feel free to e-mail me at [email protected] with your contact info, to hook you guys up.
Fast hard money loans in Colorado
Deed Of Trust Virginia
December 29th, 2007
Question: Partners buying house: Joint or TIC?
My partner and I are buying a house together and I'm a little confused about the deed types and need some quick advice. In Virginia I have the choice of holding title Jointly (w/ survivorship) or Tennants in Common (50/50). I understand the basics between these two, my question is related to using my Living Trust on the deed.
The issue is that I elected Joint ownership with my partner, but was told that I can't have a joint deed with my partner since I want to use my living trust instead of my name; I was told that a living trust can only be used on a deed in a TIC.
Is it better to then just use my personal name on the deed and stay with holding it jointly with my partner, or go with the TIC using my trust's name?
Are there any tax implications to the type of deed?
Answer: It is better to use a TIC if you can foresee ever needing to will your accumulated equity (in whole or part) to someone else besides your partner. If your plan is to give the whole equity to your partner your estate will not suffer any tax issues with a deed of survivor-ship.
Hard money rehab in Virginia
Deed Of Trust Agreement
December 25th, 2007
Question: How transfer property title from deceased parents to daughter per Revocable Living Trust w/out probate?
There is no will. There is only the Revocable Living Trust and the Grant Deed left by parents.
Can this transaction be done without an attorney and without going to probate?
Can we go to the local court house or hall of records to do this transaction?
The Revocable Living Trust Agreement was drawn and notarized in 2005, but not recorded on property title. Deceased parents are joint owners of property. They died 11/06 & 3/07.
Revoc. Living Trust states "After the death of both grantors (parents), the successor trustee (son) shall distribute the trust estate to the following who shall survive both grantors: "named property" bequest and given to daughter."
Successor Trustee is son.
Daughter also has power of attorney for parents.
No outstanding debt remains in their names.
No other heirs will contest this Revocable Living Trust.
Answer: Its best you get advice like this directly from an attorney. Most offer free initial consultations. You can find a good estate planning lawyer in Riverside at the link below. I also put a few links for California Lawyers, Legal Advice, and Legal Articles.
http://www.riverside-san-bernardino-attorneys-lawyers-dui-directory.us/riverside-san-bernardino-probate-estate-law.htm
http://www.riverside-san-bernardino-attorneys-lawyers-dui-directory.us/riverside-san-bernardino-legal-services.htm
http://www.sandiegolawyerforyou.com/
http://www.california-attorneys-lawyers-dui-legal-advice-directory.us/california-estate-planning-lawyers-and-probabe-attorneys.htm
http://www.california-attorneys-lawyers-dui-legal-advice-directory.us/
http://www.legal-advice-library.info/resources_CA.htm
http://www.legal-advice-library.info/
http://www.legal-advice-library.info/articles.htm
http://www.san-diego-lawyer-attorney-personal-injury-dui-car-immigration.info/san-diego-california-lawyer-legal.htm
http://www.san-diego-lawyer-attorney-personal-injury-dui-car-immigration.info/
Owner Carry Financing, Seller Carrybacks, How title is Held
Posted in Deed of Trust Basics | 
Tags: deed of trust agreement, lease, leasehold_deed_of_trust, security, security_agrement | 
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