It is likely that an underlying lienhold

It is likely that an underlying lienholder will be notified that the borrower sold the property if the lienholder receives the tax bill.

To include a Due on Sale clause in a sel

To include a Due on Sale clause in a seller finance loan, check the box on the seller finance addendum requiring lender’s consent to sell.

Texas Homeland Title can issue title pol

Texas Homeland Title can issue title policies on wraparound liens if the parties sign certain disclosures and acknowledgments.

Using a wraparound lien to seller finance

Using a wraparound lien to seller finance could trigger the due on sale clause.

A Due on Sale clause allows the lender

A Due on Sale clause allows the lender to call the loan due if the borrower sells all or part of the property.

Helping Our Clients in All Ways Possible…

Much of our time here at Texas Homeland Title is spent in what we like to call “consultation” with our clients on their real estate title issues. While we love the deals that come into the office that open and close without a hitch, the real estate title business, at least ours here at Texas Homeland, is much more than a conveyor belt of real estate contracts opening and closing, opening and closing. opening and closing. Rather, our business is about helping our clients in all ways possible. (As I’ve written before, our clients are real estate brokers, loan officers, real estate investors and builders who direct business to us. Our customers are their customers.)

This means ...

Why Confusion Over Escrow Fees?

A common source of confusion in the title business in Texas is the Escrow Fee. Upon presenting the settlement statement, we often hear a buyer ask a question like, “I’m not escrowing, so why am I paying an Escrow Fee?”

The buyer has recognized the word “escrow” as it applies to mortgage lending, i.e., paying a portion of the yearly property taxes and hazard insurance premium each month along with the principal and interest to the lender for the lender to hold in its escrow account so that it can pay those bills at the end of the year on behalf of the borrower. The buyer’s confusion arises from the fact that escrowing in the mortgage lending context has noth...

Mineral Rights in Subdivisions…

With the recent increase in natural gas production in Texas, more and more property owners are interested in mineral rights. If you don’t already know that you’re a mineral rights owner, then you probably don’t own any. If you own property in a subdivision, for instance, the developer of the subdivision almost certainly reserved the mineral rights (if even he owned them himself) when he sold off the lots. If you have purchased acreage, there is a better than average chance that the minerals were sold off or reserved at some point in the past.

Title companies in Texas will not usually insure the title to minerals. Instead, we take exception on Schedule B of the title commitme...

Release of Lien Should Be Filed Upon Payoff of Purchase Money Loan

When a homeowner refinances a purchase money loan using a home equity loan, and the purchase money loan is going to be paid off in its entirety upon closing the home equity loan, the title company closing the new loan is supposed to see to it that a Release of Lien is filed of record. The Release of Lien gives to the public that the original purchase money loan is paid off.

Without the Release on file, the homeowner will almost certainly run into delays when he decides to put the home up for sale in the future. What usually happens when no release of lien is filed goes something like this: The homeowner puts his house up for sale and gets a contract on it. They open title, and set the closing...

Still time to buy a home before school starts…

Its Friday the 13th of August and the kids are getting ready to go back to school. You were hoping to buy a new home and get moved before they go back, but you got busy this summer and couldn’t make it happen. So you’ll wait until next year.

But why wait. Buying a home doesn’t have to take as long as you might think. In fact we routinely close home purchases within only a few days. Of course, these are usually cash purchases, where the buyer is simply writing a check for the whole purchase price plus closing costs. But what if you’re like most of us, and you actually have to get a loan? Is it too late? Maybe not.

Lets look at a contract we received a here at Texas Homel...