1. What Is a Deed-in-Lieu of Foreclosure A deed-in-lieu of foreclosure is an agreement between a homeowner and their lender where the homeowner voluntarily transfers the property’s title to the lender to avoid foreclosure. 🏠 Key points about this process: The homeowner surrenders ownership of the home to the lender.This option can help prevent the […]

1. An Assumable Mortgage Allows You to Take Over the Seller’s Loan With an assumable mortgage, instead of applying for a new mortgage, you can take over the seller’s existing mortgage—including the interest rate and remaining balance.  This means you’ll pick up where the seller left off, keeping their favorable loan terms. If the seller has a lower interest

1. A Title Commitment Outlines the Conditions for Title Insurance A title commitment is a document issued by a title company that details the conditions under which they will provide title insurance.  It serves as a preview of the title insurance policy you’ll receive after closing. This insurance protects you in case there are any title disputes after you purchase the