Presented by Ricardo & Wasylik, PL

lenders

MERS (What’s in your mortgage?)

by Mike on March 18, 2010

The MERS Conveyance The heart of your mortgage – the most important clause in the entire document – is the “Transfer of Rights in the Property” clause. This is the language that creates the lender’s security interest backing the loan – it’s the sentence that allows them to foreclose if the borrower doesn’t pay. But […]

{ 2 comments }

Want to know more? Contact us at Ricardo & Wasylik, PL.

Your mortgage is a thick, dense, practically unreadable document that dictates many of the terms of the relationship between the borrower and the lender on a typical home loan. The document itself is written by the bank’s lawyers, and most of them tend to use specific language that has been tried-and-true in other deals. In […]

{ 1 comment }

Want to know more? Contact us at Ricardo & Wasylik, PL.