Other Real Estate Transactions

You might need to renew your loan if, your loan has a balance left at its maturity date, the lender/owner has the option to require full payoff. Loan renewals usually work the same way as when you applied for an original loan. You may need financial information to prove your stability, but in most cases of owner finance or where you’re the lender for someone else purchasing, you do not have to follow strict rules to re-write the loan.

If you can’t pay on a debt, a creditor (person or company you owe) might sue you to collect it. However, you can’t be put in jail for failing to pay your creditors (though child support is an exception). If you are sued & can’t pay, the creditor can get a judgment in court against you for the money you owe, plus interest.
You are judgement proof if you do not own anything of great value aside from exempt property like your homestead, a vehicle, household items & tools of your trade. Sometimes judgements are wrongfully placed on a home & need to be removed. We can help you with that.

There are a number of reasons to need a release for a lien put on a home or against a property. One f the main reasons we see is that you have satisfied the terms of a loan either with an owner finance or another lien. Once that is paid off, you need to make sure the title of the property is not clouded by that lien. We can prepare the release of lien & make sure all the necessary documentation is done & completed so you can rest assured that lien is no longer applicable.

A memor&um of contract (MOU) a pre-contract to a real estate sales contract. It is less legally binding than a contract & it can be used to outline the terms & details of the agreement before the contract is drawn. It can be used in court when one party fails to meet one or more of the obligations stated in the agreement.
It basically puts the term of a contract that both parties can look at in one document. This way the terms of the sale can then be negotiated. It is a starting point, to start to agree. A memor&um of sale contract will include names & Contacts of the buyer & seller, the property address, tenure details & any special conditions. It will also include sales price deposit amount & it can include which lender may be used.