This sub-file contains long and short versions of loan contracts. These agreements contain a number of provisions, including interest and repayment clauses, as well as detailed provisions for representations and guarantees, bonds and obligations. The short-term credit contract does not contain the same detail or protection and is suitable for less complex transactions. Unfortunately, we are not able to sell a document that insures the debt of the property – such a tax is a limited activity according to the law and requires a lawyer. In addition, in many cases, this would violate the terms of a mortgage agreement. Use our deed mortgage to ensure that a mortgage will be repaid by the real estate offer as insurance. In addition to a mortgage deed and an act of trust, there are other types of commonly used deeds. Each offers different levels of protection during a real estate transaction. Make sure you have chosen the right type of deed for the sale or transfer of your land or land. You can develop creative solutions for the borrower, including lower interest rates and one-time payment options. The lender may also be a private investor or a credit company specializing in lending to non-traditional borrowers.
These lenders often charge more interest and have shorter amortization periods than a conventional one, but can be a good option for “pinball” or borrowers who renovate a property and then resell quickly. Acceleration – A clause in a loan agreement that protects the lender by requiring the borrower to repay the loan immediately (both principal and accrued interest) if certain conditions occur. Yes, in this loan agreement, it is possible to include a provision that the borrower can repay all or part of the loan at any time by giving him a specific notification. It is possible to include an early refund tax, which is a percentage of the amount borrowed. However, private mortgages are risky. Family members might think that they will be easily forgiven if they miss one or two payments. And higher interest rates and faster amortization conditions, combined with borrowers who do not have proven results, can lead to many defaults.