404-377-6783

Residential Real Estate Transaction Law Blog

Real estate and property law since 2003

News

PAYING OFF YOUR MORTGAGE EARLY MAKES YOUR APR GO UP

The annual percentage rate, or APR, is the total cost of borrowing money over the full term of the loan, expressed as a yearly number. You’ll find it on page 5 of the closing disclosure, with the proviso that “this is not your interest rate.”  The purpose of the APR is to make it easier…
Read More

DO CLOSING ATTORNEYS CHARGE JUNK FEES?

Sadly, yes – some closing attorneys do add what we would consider “junk fees” to the costs of closing a real estate loan. We worked with a client who was the seller in the transaction and used the closing attorney the buyer had stipulated in the sales contract. That attorney added a $250 charge to…
Read More

DOES TITLE INSURANCE COVER THE GAP BETWEEN THE TIME OF CLOSING AND THE RECORDING OF THE PAPERWORK?

Yes, title insurance covers liens, mortgages, or other claims filed in the public records against the property prior to the closing. Here are two examples: A seller took out a Home Equity Line in July. The lender did not file the Security Deed/Mortgage until October 10th. The seller sold the property on October 14th. The…
Read More

WITH A REVERSE MORTGAGE, CAN I LOSE MY HOUSE IF THE LENDER GOES UNDER?

When a borrower seeks a reverse mortgage, they are still getting a loan that uses the house as collateral. Instead of making payments toward paying off the loan, they receive distributions (like a line of credit) from the lender. If a lender goes out of business and is unable to service the loan – and…
Read More

ARE PROPERTY TAXES PAID FROM AN ESCROW ACCOUNT WITH A REVERSE MORTGAGE?

Reverse mortgage loans do not require an escrow account, because the borrower receives money, rather than making payments. Since conventional mortgages are usually set up to include property tax and homeowner’s insurance, how does the reverse mortgage loan holder pay for those elements?  The borrower acquires and pays for insurance independently, and pays taxes directly…
Read More

CAN REVERSE MORTGAGE FUNDS BE USED TO FUND ANOTHER INVESTMENT?

A reverse mortgage allows the 62+ year-old homeowner to refinance their home and receive the equity as a line of credit or a payout directly to them. Its purpose is to give seniors a chance to use the equity in their homes to help with living expenses, and it closely resembles a home-equity loan. And…
Read More

GEORGIA DEPARTMENT OF REVENUE LIENS

In 2017, the Georgia legislature passed a law changing how we searched liens filed by the Georgia Department of Revenue. The law initially required a ‘clearance letter’ from the Georgia Department of Revenue before any deed could be filed.  Thankfully this was repealed and replaced in 2018. The GSCCCA is an on-line statewide searchable database for lien and deed…
Read More

LIENS NOT RECORDED AT THE COURTHOUSE

We perform a title search for every refinance or purchase closing. There was a time when someone searching titles could get all the needed information at the courthouse.  That time has passed.  Deeds, mortgages, and most liens are still recorded in the real estate records at the courthouse, but several other items also need to…
Read More

PROTECT YOUR MONEY FROM WIRE FRAUD SCHEMES DURING CLOSING

Sending an e-mail is like mailing a post card. Unless it is encrypted, there are ways other people can read the message and see what is in it. Even though e-mail is easy, it also has its dangers. Anyone in the world can try to read it, and even change what was written. Criminals who…
Read More

REVERSE MORTGAGE BASICS

Reverse mortgages have been around since the late 1980’s. Almost all reverse mortgages are FHA insured and follow strict guidelines. The program was designed to keep seniors in their house as long as possible and to make the equity in the house available without selling it. There is a lot of mis-information on reverse mortgages.…
Read More

CALCULATE CLOSING COSTS

Calculate costs and output results as they’ll appear on the Closing Disclosure

ORDER TITLE

Provide pertinent information and we’ll get started on the title search.

SCHEDULE CLOSING

Get on our calendar early so the time will be convenient for your borrower.

Origin Title: Approved Attorney

These are a few of the more than 30 lenders who have approved Origin Title for residential loan closings on their behalf.

Download the Origin Title Lender Approved List

Origin Title ~ Body of Work

Since 2003, John C. Bennett has performed thousands of closings.

0

PURCHASES

0

REFINANCES

0

REVERSE MORTGAGES

0

APPROVED LENDERS

Schedule Your Closing Now

Our online form makes it simple !