Housing Wire

MAY 11, 2023

Lenders are increasingly under pressure to close home equity loans in as little as five days; Flueid recognized that hitting this mark requires a way to easily uncover and prioritize the most seamless opportunities in the pipeline,” said Matt Regan, EVP of transaction management systems at Flueid.

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Housing Wire

OCTOBER 29, 2021

A small issue within the title process can have an impact on the length of the closing process, impacting mortgage lenders and borrowers. HousingWire recently spoke with Dave Steinmetz, Division President of Origination Services for ServiceLink, on what tools lenders should leverage to streamline home equity title and closing.

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Housing Wire

DECEMBER 14, 2023

Part of the equitable housing plans’ approach to achieving more equity includes reducing the costs and fees associated with buying a home that are often cited as a homeownership barrier for low- and moderate-income and non-white households.

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Housing Wire

APRIL 10, 2023

And all of this helps create a more integrated (and more importantly, streamlined) lender-title workflow that empowers the collective to achieve the all-elusive 5-day close for home equity or 10-day close for refinance. Now, it’s not uncommon to find these and other potential issues during the title search and curative process.

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HomeLight

OCTOBER 31, 2024

If you sell your house for a mid-range price of $385,000, you can expect to pay anywhere from $23,100 to $38,500 in seller closing costs. The answer is a mix: Some closing costs are tax deductible, while others are not but can reduce your taxable capital gains.

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Housing Wire

MARCH 9, 2021

How hybrid title and valuations help increase lending efficiency. Why use several vendors for title searches, appraisals and underwriting when you can use one? That general principle holds true for the title and settlement services space as well. 2021 could still be a very good year for prepared businesses.

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Housing Wire

APRIL 18, 2022

It’s important to note that the cost for title insurance may include other services provided by the title company, such as conducting the title search or the closing. Title professionals continue to protect property rights and safeguard the equity and wealth families accrue during their homeownership journey.

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Marco Santarelli

DECEMBER 20, 2024

With a better financial profile, you might qualify for a loan with a shorter term, helping you build equity faster and own your home sooner. You Want to Build Equity Faster: If you're financially stable, refinancing into a shorter-term loan can be a great move.

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HomeLight

OCTOBER 31, 2024

Current property ownership documents You’ll also need documentation to prove property ownership: Property deed and title documents: These establish legal ownership. The title is the concept of legal ownership granted by the deed. Any second mortgage documents: Documents for any home equity loan or HELOC associated with the property.

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HomeLight

NOVEMBER 15, 2024

“When inheriting a property, you need to make sure you know if there are any liens like a mortgage or an equity loan that need to be paid,” Hillman says. You’ll also need to know if the inherited North Carolina property has any supplemental liens or judgments, such as unpaid taxes, a home equity line of credit (HELOC), or a reverse mortgage.

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HomeLight

JULY 11, 2024

You’ll also need to surface any other liens or judgments attached to the property, such as unpaid taxes, a home equity line of credit, or a reverse mortgage. A title search will help determine what you need to address, and your next steps.

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HomeLight

DECEMBER 23, 2021

Essentially, title and deed are both related to the important question of who truly owns a particular piece of real estate and has the rights to it. Let’s take a deeper look at what a house title is; the different types of deeds used in real estate; and related terms including chain of title, title search, title insurance, and title abstract.

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HomeLight

JULY 12, 2024

Unlock Your Equity and Buy Before You Sell Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. Here’s what you can expect: Title search: Verifying the property’s legal ownership and any existing liens or claims.

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HomeLight

AUGUST 20, 2021

This means that most Connecticut home sellers need to pay their remaining mortgage balance before transferring the property title to a buyer. If you have substantial equity, you can even walk away from your sale with a significant profit. In some cases, title searches reveal liens, or debts charged as a claim on your property.

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HomeLight

JULY 11, 2023

If an owner tries to sell their house, a title search will identify any liens recorded against the property. In order for the sale to occur, the title company ensures that any liens are satisfied at closing so the buyer can take title free and clear of any liens.”

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Realty Biz

AUGUST 12, 2023

Equity : The difference between the current market value of your home and the amount you owe on your mortgage. As you pay down your mortgage or if the value of your home rises, your equity increases. These can include title search fees, appraisal fees, attorney fees, and more.

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RIS Media

SEPTEMBER 21, 2020

Fees may include the appraisal, the home inspection, a title search, a pest inspection and more. During this time, the home is inspected and appraised, and the title searched for liens, etc. percent of the yearly loan amount, can be canceled in certain circumstances when the borrower reaches 20 percent equity.

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HomeLight

JANUARY 5, 2022

For example, if you offer your friend a discount on your home – intentionally or not – it may be considered a “gift of equity” subject to gift taxes. That way, you can provide documentation to your tax advisor to determine if you made a gift of equity to your friend. Source: (Christina @ wocintechchat.com / Unsplash).

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Realty Biz

JANUARY 10, 2021

If you own a lot of equity in your home, and if you are aged 62 or above, you could benefit from a reverse mortgage. Reverse mortgages give homeowners aged 62 or older, who have paid all or most of their mortgage off, the opportunity to release that equity. What is a Reverse Mortgage? What is a Reverse Mortgage?

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HomeLight

NOVEMBER 9, 2021

You’re also responsible for paying off any home equity loans you may have taken out against your mortgage. Title search. A title search ensures that the property has no liens, judgments or other claims from outside parties (or “encumbrances”) on it that would prohibit a sale. Most lenders require them.

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Redfin

JANUARY 28, 2025

However, there are other costs you need to account for in addition to the loan itself, such as: Equity payment: Youll need to pay the seller for the equity theyve already built up in the home. The sellers equity: This is the difference between the homes sale price and the remaining balance on the existing mortgage.

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Real Trends

MARCH 9, 2022

When property is transferred from one owner to another, there may be undiscovered tax liens, forged signatures, recording errors, undisclosed easements, title claims or other defects. Despite strides made by technology to streamline the process of title searches, the title industry remains a people-centered industry.

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HomeLight

AUGUST 24, 2022

These buyers typically have more cash on hand — or more equity in their primary homes up North — which enables them to purchase a Florida home without having to obtain financing. The buyer runs a title search on the property. Property investors. Investors are more likely than traditional buyers to purchase properties with cash.

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Redfin

FEBRUARY 21, 2025

Whether you’re preparing for a move, considering a home equity loan, or simply maintaining your propertys clean title, uncovering liens early can save you from unexpected costs and stress down the road. Many counties maintain online databases where you can search property records by address or the owner’s name.

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HomeLight

NOVEMBER 21, 2024

Here are some typical fees you’ll pay during the refinance process: Application fee Appraisal fee Inspection fees Title search and insurance fees Possible attorney fees (required in some states) On average, closing costs range from 3%–6% of your total loan amount. How much equity is in your home? How Much Is Your Home Worth Now?

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Realty Biz

FEBRUARY 19, 2024

The parcels that dragged my portfolio down were the ones where I just thought “Oh that’s great discount for this piece of property, I know I’m buying it with equity, I’ll just list it for full market value and see who comes along.” The real estate attorney you are using should conduct a title search to ensure no liens against the property.

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Marco Santarelli

DECEMBER 29, 2024

Refinancing can be an effective way to lower your interest rate, reduce your monthly payments, or take cash out of your existing home equity. These can include application fees, title search fees, and other administrative expenses. Refinancing: Is It Right for You?

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HomeLight

SEPTEMBER 13, 2022

If you wish to sell the home to your relative for less than its fair market value , then you’ll likely have to report the difference between the home’s value and the sale price as a gift of equity with the IRS (more on this later in the article). Perform a title search. Determine finances (confirm funds are available).

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HomeLight

MARCH 31, 2022

As housing prices skyrocket, many homeowners are considering ways to turn their growing home equity into cash. If you’re one of the 6 million Americans projected to sell a home this year, you may be trying to figure out exactly how much of that increasing equity will end up in your pocket after all is said and done. Title insurance.

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Redfin

DECEMBER 15, 2023

While this might sound like a small difference, it can translate into substantial savings over time including lower monthly payments, paying off the mortgage quicker, and even allowing homeowners to tap into their home equity for other expenses. Typically, the longer you’ve lived in your home, the more equity you have.

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HomeLight

JULY 25, 2023

This can cause delays upward of half a year to get the equity out of a home while the owner continues to cover the costs of heating, cooling, mowing the lawn, etc. Title search The cash buyer will require a title search to make sure that you can convey the property free and clear of any claims or judgments against the home.

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HomeLight

AUGUST 31, 2020

This means that you cannot sell your house and pocket any equity from the sale until that tax lien debt is satisfied. As that tax debt piles up, it’ll swiftly eclipse any equity that you’ve built up in your home. Tax liens are discoverable during a title search — even if the lien data isn’t an exact match.

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HomeLight

FEBRUARY 14, 2022

Though it’s true that most sellers would rather finalize the transaction as quickly as possible once they’ve accepted a purchase offer , not everyone is in a hurry to relocate or collect equity. Obtain a title report to see how long the seller has owned the property — the longer they’ve owned the property, the more equity they have.”.

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Redfin

MARCH 2, 2021

Your home now represents pure equity; funds that could come in handy to pay for unexpected major expenses, medical bills, or any kind of financial emergency. But how do you gain access to some of that hard-earned equity from your home? A reverse mortgage is a loan based on the current paid-up value or equity in your home.

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HomeLight

JUNE 19, 2023

Other examples of documentation for proof of funds that a seller might accept include a bank statement, a copy of a money market account balance, or an open equity line of credit. Step 8: Check over the title Just like with a house, liens can be placed on land for various reasons, such as outstanding taxes.

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HomeLight

JANUARY 29, 2021

Run a title search to surface liens or judgments attached to the property, such as unpaid taxes, a home equity line of credit, or a reverse mortgage. My goal as a probate specialist real estate agent is to net the family as much equity as possible,” Hamel says. Source: (Slidebean / Unsplash).

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Realty Biz

JUNE 14, 2023

While a title search could uncover potential problems, not everything can be caught. Many problems could affect the title of a home, including the following: Mortgage fraud. You must buy owner’s title insurance if you want the same protection. Do You Have to Buy Owner's Title Insurance?

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