Deeds That Effect Us.

Whenever you want to transfer a property from one person to another then you need to use a deed to complete the transfer. A deed is generally a legal document that is used to transfer property. This contains the name of the Grantor (previous owner) and the grantee (new owner), the grantor's signature and it needs to be notarized and recorded in the County Recorder's office to make the deed valid.

There are different types of deeds like Quitclaim deed, Grant deed, Warranty deed etc etc. But Quitclaim deed is the most popular deeds among all the other deeds. It is mainly used to transfer property within the family members and friends. A quitclaim deed doesn't assures that the title is free any clear from all the liens against the property. So it is better to use a Warranty deed or at least a Grant deed when you are buying a property. A Grant deed assures you that the title belongs to the seller and he has the wrights to sell the property. But it is always better to use Warranty deed when you are buying a property as it promises that the grantor has the absolute ownership writes and title is free and clear from all the liens. If there is any lien attached to the property, the seller will have to compensate it to the buyer.

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how does a reverse mortgage work ?

how does a reverse mortgage work?

Reverse Mortgage is one of the popular ways to get out the home equity and use it in time of dire needs. This is very impotent to know how does a reverse mortgage work.Reverse mortgage provides a steady flow of tax-free income. By the way you can get the money on monthly basis or one time lump some amount. This is just the contrary of the tradition mortgage.

Interest rates of Reverse Mortgage:

Reverse mortgagee are mostly adjustable rate mortgage and the rate changes on monthly basis or quarterly basis. And the closing cost is also a bit higher than the traditional mortgages. Reverse Mortgage may also affect your eligibility for Medicaid benefits. But this is a non-recourse loan and this is tax free. So this is actually a helpful way to pay off a huge debt or someone's education fees.

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Fixed Rate Mortgage in Financial Crunch

Fixed Rate Mortgage in Financial Crunch



In this nationwide financial crunch, people rather like to opt for Fixed Rate Mortgage, than Adjustable Rate mortgage. Economists and Critics even blaming the predatory lending practice and the Adjustable Rate mortgage for this financial down fall. So the Government also coming forward to help the defaulted borrowers so that they can refinance and turn the Adjustable Rate mortgage into Fixed Rate Mortgage. The main features of Fixed Rate Mortgage are -

1. The loan term usually varies between 15 to 40 years.

2. The monthly payments and interest rates remain same throughout the loan period


There are different types of Fixed Rate Mortgages available like 40 year mortgage, 30 year mortgage, and 15 year mortgage. But it is not that you should always go for Fixed Rate Mortgages. If your situation demands Adjustable Rate Mortgage then go for it. Suppose that you are going to stay in that house for 2 or 3 years then it is better to opt for Adjustable Rate Mortgage than Fixed Rate Mortgage.

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