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How can the mortgage industry be more prepared for the next natural disaster?

Housing Wire

We have lenders coming to us asking about the potential impact of a mortgage loan closing should the NFIP lapse. One way that CoreLogic does this is by helping mortgage servicers to triage their portfolios and prioritize their response to a federally declared natural disaster. Many states do have sellers disclosure laws.

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Rent-to-Own Homes Pros and Cons: Is It Worth It?

HomeLight

Rent-to-own agreements offer a unique path to homeownership, appealing to buyers who aren’t quite ready for a traditional mortgage. Talk to your lender: Discuss your situation with a lender to gauge your chances of securing a mortgage by the time the rental period ends. Knowing your options in advance can save a lot of headaches.

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6 Tips for Taking the Flood Insurance Risk Out of Home Closings

RIS Media

If not required to carry flood insurance as a stipulation of obtaining a mortgage, many homeowners opt out of this important coverage. This situation, referred to as “the flood insurance coverage gap,” risks significant financial loss to millions of homeowners, and heavily impacts both the mortgage and real estate industries.

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6 Tips for Taking the Flood Insurance Risk Out of Home Closings

RIS Media

If not required to carry flood insurance as a stipulation of obtaining a mortgage, many homeowners opt out of this important coverage. This situation, referred to as “the flood insurance coverage gap,” risks significant financial loss to millions of homeowners, and heavily impacts both the mortgage and real estate industries.

Closing 85
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What Legal Documents Will You Need for Buying a House? Here’s Your List

HomeLight

Some states require sellers to fill out a seller disclosure statement documenting known repair needs or health and safety hazards in the home. This can include anything from knowledge of lead-based paint or asbestos, to the seller’s awareness of water damage in the basement, a leaky roof, or damaged plumbing.

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40 Real Estate Forms You Need to Sell Your House

Redfin

Home appraisal You would have received a professional home appraisal from when you initially purchased your house because your mortgage lender would have required it. Mortgage and financing documents Youll want to put together all your home loan and financing forms you would have received from your mortgage lender.

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8 Powerful Questions From First-Time Home Sellers That Lead to Success!

Realty Biz

Additionally, you must gather all relevant financial documents, such as mortgage statements, tax records, and any outstanding liens or judgments against the property. Finally, you should prepare a seller's disclosure statement outlining any known defects or issues with the property.