Slide guide in the Mortgage Deed

Aug 6th, 2022
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How to slide guide in the Mortgage Deed

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- Hey everybody. My name is Paul Vojchehoske and welcome to the Real Estate Classroom, YouTube channel. So in todays video, were gonna discuss the promissory note and the mortgage. In my next video, were gonna discuss the deed of trust, all right? It just seems like the promissory note, the mortgage and the deed of trust is very difficult for students to understand these concepts. So I wanna make sure that I do a good job on this video, but, the promissory note and the mortgage is where were gonna start, and Im gonna give you everything that you need to know, in this video. (bright upbeat music) Okay, so in this video, were gonna discuss two legal, separate distinct instruments called the promissory note and the mortgage and as I said in my opener, in the next video, Im gonna discuss the deed of trust or sometimes called the trust deed. It is a concept, all three of these instruments, people just seem, students just seem to have a hard time comprehending how it all works. But we

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The mortgage deed is the document that states that you and the lender have agreed to use the property as a security to protect the mortgage. The deed contains information on the conditions of the mortgage, repayment schedule, length of the mortgage, mortgage rates, type of mortgage and security for the mortgage.
Essential Elements of Mortgage Deed This includes the borrower (the individual(s) seeking the loan), the lender (the financial institution providing the loan) and the trustee (a neutral third party responsible for holding the legal title of the property until the borrower repays the loan).
Common Features of a Mortgage and Facts When Buying a Home ARREARS AND REPOSSESSION. ANNUAL PERCENTAGE RATE OF CHARGE (APRC) CASH BACK. CREDIT SCORING. EARLY REPAYMENT CHARGE. ENERGY PERFORMANCE CERTIFICATES. FREE LEGALS. GOVERNMENT BACKED INITIATIVES.
To be validly executed as a deed, each individual must sign the document in the physical presence of a witness. The witness must be an independent person such as a friend, neighbour or work colleague. They cannot be a relative, nor be another party to the deed.
In Florida, MORTGAGES DO NOT NEED TO BE WITNESSED. DEEDS OF CONVEYANCE DO NEED TWO WITNESSES, one can be the notary. Here are the appropriate sections of the statutes that address this.
Transfers, leases and other documents under Deed will usually require an independent witness against each signature. The same person can witness multiple signatures, but the witness must be an adult, and cannot be related to you or any other party in the transaction.
Your monthly mortgage payment typically has four parts: loan principal, loan interest, taxes, and insurance. If youve never owned a home before, you may be surprised that a mortgage payment has that many components. By including these costs in one monthly payment, your lender helps make things easier for you.
A witness can usually be anyone, however, certain documents will need an authorised person to witness it. A statutory declaration is one such example as it needs to be witnessed by someone like a justice of peace.
There are four components to a mortgage payment. Principal, interest, taxes and insurance. Principal is the amount of the loan.
Meet the Fantastic Four - the 4 Cs: Capacity, Credit, Collateral, and Capital. These titans hold the power to make or break your dream of homeownership. Theyre the guardians of mortgage approval, keeping a watchful eye on every aspect of your financial life.

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