News

In today’s investment environment sellers who have no immediate need for the cash they receive out of the sale of their home are giving more and more consideration to providing seller financing, particularly to buyers with material down payment… Read More »

Your state now requires a servicer of a note which is secured with residential real estate, where the servicer does not have a 100% interest in the note, to be licensed by the state.  Moreover, the servicer needs to be CFPB compliant. There is n… Read More »

Like most things in life you get what you pay for when you engage a company to service your note. Beware of low set up and monthly fees, as this is most often not your wisest or best choice for a servicing agent. Nobody works for free and as the old … Read More »

A funny thing happened on the way to the government bailout of the "too big to fail" mortgage lenders. As it happens, lenders with whom we have spoken of late have once again realized that having a secondary source of repayment (and foreclosure and l… Read More »

June 30, 2016 represents year one since the date set by the Louisiana Office of Financial Institutions for all mortgage servicers in Louisiana to become licensed for the specific purpose of servicing residential mortgages. ESI, active as a private mo… Read More »

Sellers often assume that an individual acquiring a property under a BFD must have bad credit. This may be the case in some instances, however, we see individuals daily with good credit that cannot qualify for a conventional mortgage loan. Among the … Read More »

Bond for Deed Myth of the Day -  We regularly hear, “If there is a mortgage on the property you need the mortgage holder’s approval to do a BFD”.  This often arises from a misreading of the original BFD statute that say… Read More »

Mortgage Not Assumable—Use a Bond for Deed whenever the existing mortgage is not assumable. Anyone can make the payments of an existing mortgage and court decisions have clearly established that permission of the mortgage company is not require… Read More »

Simply put a Bond For Deed is a form of Seller Financing. It is a contract to sell Real Estate in which the purchase price is paid in installments and title is transferred after the payments are made in full. In other states, Bond for Deed is usually… Read More »