I have a program that will keep you in your home. Smart Lease Back.
We buy your home and you sign a 3 year lease at 60% of your current payment.
At the end of 3 years you have the first right of refusal to buy your home back at 90% of current market value.
No application fee. You only pay a deposit for the lease at closing.... more
The answers you have been given are correct. There may be what is known in real estate as "clouds" on the title and you really have to be grateful for the diligence of your title representative. These clouds can be cleared, and it is not only HUD homes that have these. I sold a property that had been in the same family since MN was only a territory and in our due diligence we discovered that there was no title filed, ever, and that the original land grant was missing. A new abstract had to be created. Another way Title can be protected if there is no hard copy to be found is through Title insurance. That is why we have Title Owners' policies which protect you in case some unforeseen claim can, in spite of all the searches, appears. Your title company will trace all those, individuals, corporations, municipalities, utility companies, etc, who may have had a lien against the property at some time. If needed, they will get "quit claims" from these people or lien releases to make sure that all possible claims, liens or other "clouds" created through death, divorce, wills or lack of wills have cleared the skies. Liz, 612-986-4105... more