Title
Streetwise Seller Financing: Sell Your Property up to 70% Faster,Used
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Streetwise Seller Financing is designed as a complete guide to the entire process of seller financing real estate. Starting with the homework before the sale, Eddie Speed moves through underwriting, structuring the sale, complying with applicable state and federal laws, preventing default and what to do if your property does enter default. Table of Contents: Introduction Part i: Homework Before the Sale Should I OwnerFinance? The Application Employment Section Rental History Reference Verification Balance Sheet Credit Report Understanding the Credit Score Public Record Information Trades Information Sources of Public Records Common Sense Underwriting Underwriting Food for Thought Calculating Ability to Pay The 5 C's of Credit Part ii: Structuring the Sale The Credit Score and Loan to Value The Property Type and Loan to Value A Word About Interest Rates What is the 'Right' Structure for my Note? Why Loan to Value is Important Legal Requirements for Notes Real Estate Settlement Practices Act (RESPA) Truth in Lending Act (TILA) Equal Opportunity Credit Act Home Mortgage Disclosure Act GrammLeachBliley Act Fair Credit Reporting Act State Laws A Word on Late Fees Escrow Accounts Why collect Escrow? Legal Limits Interest on Escrow accounts Other Legal Issues IRS 1098 Reporting Requirements Organizing Your Portfolio Part iii: Conditions Leading to Default P&I Delinquency Unpaid Property Taxes No Hazard Insurance Other Liens Poor Property Management Common Sense Collection Calls The Importance of Collecting on Your Note Establishing Payment Expectations Permanent Corrective Action Collection Schedule Telephone Collection Calls Keeping Good Pay Histories SkipTracing Fair Debt Collection Practices Act Alternatives to Foreclosure Forbearance Recasting Government Assistance What to Expect When Your Loan Enters Default Bankruptcy Foreclosure Judicial Foreclosure PowerofSale Foreclosures Deficiency Judgements Surrender of Deed Presale of Property Tax Consequences of Default Selling Your Note Partial Purchases Conclusion Appendix A: Glossary of Terms Appendix B: Important Forms US Bankruptcy Court Proof of Claim Sample Freddie Mac Universal Loan Application Payment Reminder Letter Notice of Non Payment Letter # 1 Notice of Non Payment Letter # 2 Notice of Non Payment Letter # 3 Sample Breech Letter Notice of Intention to Foreclose Sample Borrower's Financial Statement Notice Required by Fair Debt Collection Practices Act IRS Form 1099A Acquisition or Abandonment of Secured Property IRS Form 1099C Cancellation of Debt Notice to Users of Consumer Reports Sample Truth in Lending Disclosure Statement HUD1 Settlement Statement Seller Disclosure of Condition IRS Form 1098 Mortgage Interest Statement IRS Form 1096 Annual Summary and Transmittal of Returns Appendix C: Delinquent Servicing Schedule Index
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This product may contain chemicals known to the State of California to cause cancer, birth defects, or other reproductive harm.
For more information, please visit www.P65Warnings.ca.gov.