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Did You Know?
Proposed Construction is properties approved for mortgage insurance prior to the beginning of construction
This means that the DE Statement of Appraised Value or Early Start letter has been issued by the DE Underwriter for the property prior to pouring of the footing. For high ratio loans, provide either the appraisal or Early Start letter AND at least three inspections (initial, framing and final) by a HUD fee approved panel inspector or approved local jurisdiction.
Newsroom
News about real estate cases in Indianapolis and nationwide:
Hud Housing Program
The Uniform Act, passed by Congress in 1970, is a federal law that establishes minimum standards for federally funded programs and projects that re... Read more >
Definition:
Also known as the "settlement sheet," it itemizes all closing costs; must be given to the borrower at or before closing.
Flood insurance
Definition:
Insurance that protects homeowners against losses from a flood; if a home is located in a flood plain, the lender will require flood insurance before approving a loan.
Deed-in-lieu
Definition:
To avoid foreclosure ("in lieu" of foreclosure), a deed is given to the lender to fulfill the obligation to repay the debt; this process doesn't allow the borrower to remain in the house but helps avoid the costs, time, and effort associated with foreclosure.
If you live in the following cities and need an real estate attorney you should contact
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Brownsburg
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Fishers
Fort Wayne
Franklin
Goshen
Granger
Greenfield
Greenwood
Hobart
Huntington
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Kokomo
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Logansport
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Martinsville
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Michigan City
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Muncie
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Newburgh
Noblesville
Peru
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Richmond
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South Bend
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Valparaiso
Vincennes
West Lafayette
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