All articles about Mortgage law

What Gives My Mortgage Company the Right to Hold My Insurance Claim Check?

The Escrow Department will likely be the same department that will cash and hold your insurance claims check. Don’t be surprised if your bank/lender actually place a hold on the check for up to five business days due to the protential for fraud given the number of mass losses that have occurred recently.

What is a Mortgage or Deed of Trust?

To understand what is a mortgage is you first have to understand the etymology {history}  of the word mortgage.

It is said that the first mortgage ever recorded dates to 1190 in England. Common English Law provided protections to the grantee (lender) of that mortgage loan and these protections granted the lender in the borrowers property.

At that time most pledges or loans were what was known as “Living Pledges”  which were just that pledges of possessions while one was living until the debt was paid. Continue reading What is a Mortgage or Deed of Trust?