Sometimes the 1003 Universal Residential Loan Application is backdated or the lender will leave instructions not to date it at all. Why? Because the borrower, most likely, has submitted a more user-fr [..]

A Balloon Mortgage is usually a short-term fixed-rate loan which involves small payments for a certain period of time and one large payment for the remaining amount of the principal at a contractually [..]

A Balloon Mortgage is usually a short-term fixed-rate loan which involves small payments for a certain period of time and one large payment for the remaining amount of the principal at a contractually [..]

A basis point is 1/100th of a percentage point. For example, a fee calculated as 50 basis points of a loan amount of $100,000 would be 0.50% or $500. A basis point is commonly used for calculating cha [..]

Notarizing a document for a family member, or a document in which the notary is named, or has financial interest, could constitute beneficial interest. A Notary should avoid notarizing documents in wh [..]

The person or entity designated to receive the income from a trust, estate, deed of trust, or insurance policy can be called a beneficiary. A beneficiary could also receive non-financial benefits from [..]

A Notary generally can not certify a copy of or notarize a birth certificate. This would be subject to state laws. However, it is common for a signer to swear an oath that a copy of a birth certificat [..]

A mortgage that requires payments to reduce the debt every two weeks instead of the standard monthly payment schedule is a biweekly payment mortgage. The 26 or possibly 27 biweekly payments are each.. [..]

A blanket mortgage is a mortgage that is secured by a cooperative project, as opposed to the share loans on individual units within the project. Blanket loans are popular with builders and developers [..]

Many states require notaries to carry a surety bond to protect others from any misconduct or mistake. Should the Notary be liable for monetary sums, the bonding company would be liable to pay whatever [..]