| RG
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San Jose, CA
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In United States
Registered Oct 13, 2010
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RG's most recent comments:
- On 7 Mar 2013
in
Moving mortgages under LLC,
RG said:
FortWayne is just talking about the loan. Sure you can't change that without permission of the bank. The title is a different story.
You need to read your mortgage, most have clauses for title transfer which gives the lender the OPTION of demanding payment, but there are no laws against it. In the end it really just comes down to your mortgage contract. I suggest you read it looking for clauses around title transfer.
I've done some research (and spoken to some lawyers about this). Basically the risk of the note being called on the transfer of the title is very low. All the bank *really* cares about is that the loan keeps getting paid. So long as the loan keeps getting paid you won't run into issues. In a non-recourse state like california, if you ran into issues, you could always default on the loan and transfer the title back to the bank.
That said, I'm risk adverse and would advise against doing it. Just beware its actually better not to ask if you do decided to do it. ;) - On 13 Aug 2012
in
unpermitted addition,
RG said:
I don't know about Phoenix. Ive looked at close to a hundred homes in San Jose and some surrounding cities. Pretty much every one had missing permits. Ranging from simple stuff like windows all the way to plumbing/electrical/roofing.
In every case the listings say something like "buyer to check permits".
Seems like it should be illegal, but even if it is, it's not enforced. - On 12 Aug 2012
in
"Eagle" Title Insurance?,
RG said:
Sorry eagle is not a company. It's a type. I'm asking if anyone knows if the coverage actually works. I figure they have lots of small print that lets them get out of paying.
Here is an example of one companies version.
https://mnabstracttitle.com/docs/lenders.pdf
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