Tag Archives: foreclosure

HomeBuyer house hunting homework

Has your prospective dream home been the scene of a horrific murder? The history of the home and previous occupants may be of concern or hold historical value to a potential buyer. Homebuyer house hunting homework may be the call of action to answer important inquiries.

A professional Realtor® should readily have an answer or the resource available to research an answer. Questions are encouraged. An informed consumer is in a better position to make a qualified decision for purchase.

Examples of prospective homebuyer questions could be and have been:

  • Has anyone died in this house?
  • Were there any crimes committed in this house?
  • Are there sex offenders living nearby?
  • Is there a pet leash law?
  • Does the subdivision allow 3 story high jungle gyms?
  • Can I run my business from this house?
  • How far is the nearest firehouse?
  • Can I breed pit bulls in the backyard?

Your Realtor® should know, according to his or her state laws governing whether they are able to discuss a death in the home. Texas Realtors® or home owners are not obligated to disclose this information – whether they are aware of it or not. As a prospective buyer, you have the right to research available police records, state, county and local jurisdiction public files and local newspapers and publications for information related to the home’s address.

Public records will also be the key to the history of home ownership. Most counties now have the line of ownership available on the Internet. If you are an observant researcher, it may be evident to determine if the home was inherited or transferred within a family, a foreclosure, a history of improvements, tax history, lien history and a record of the properties/improvements dimensions.

The US Department of Justice National Sex Registry has a website for researching if there are sex offenders living nearby or within the community. The Internet is also a resource for locating the nearest police and fire house. If the home is located in a town, borough, suburb or sub-division community, they may have their own website with local rules, laws, regulations and activities available. Sub-divisions may also have a copy of the by-laws and deed restrictions posted by the home owner association (HOA). Your real estate agent will also be able to obtain home owner association information for you, also.

Home owner association by-laws and deed restrictions are usually very specific and will let you know the requirements for home ownership within the subdivision. Local jurisdictions will also inform you of yoHomebuyer house hunting homeworkur ability to run a business from your residence or not. Ask specific questions. You may be able to conduct business but may not be able to post a sign advertising the business on the property. Local jurisdictions will also be able to inform you of laws and regulations in reference to pet ownership.

Again, your real estate agent or broker will have neighborhood knowledge and resources to assist with answers to your questions.

 

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Foreclosure, credit and eviction protection for military women & men

President Obama signed into public law No: 114-142, S.2393 – Foreclosure Relief and Extension for Servicemembers Act of 2015, on March 31, 2016. This law provides an extension through 2017, for foreclosure protection under The Servicemembers Civil Relief Act – formerly known as The Soldiers’ and Sailors’ Civil Relief Act.

The Servicemembers Civil Relief Act (SCRA) provides specific

https://www.justice.gov/sites/default/files/crt/legacy/2011/03/23/scratext.pdf
https://www.justice.gov/sites/default/files/crt/legacy/2011/03/23/scratext.pdf

financial and foreclosure protection for our military women and men that have debt originating before their call to active service.

It is important for creditors and landlords to note some of the provisions of protection in this act:

  • State Tax Relief
  • Termination of Property Leases
  • Eviction Protection
  • Foreclosure and Forced Sale Relief
  • Judicial Relief – does not include criminal
  • Ability to Terminate Automobile Leases
  • 6% Cap on Credit Interest Rates
  • Credit Rating Safeguards
  • Insurance Cancellation and Reinstatement protections

There are specific requirements which must be followed to insure the protections for the servicemembers. The credit or mortgage borrowers must request the protection under this act. The loan or debt must have originated prior to the current active military service. The lenders, landlords, creditors, insurance companies, etc. must be notified, in writing, the servicemember is requesting protection under The Foreclosure Relief and Extension for Servicemembers Act of 2015.

This is a general list of provisions. Further specific information is available at: https://www.justice.gov/sites/default/files/crt/legacy/2011/03/23/scratext.pdf

 

 

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