What legal issues should I be aware of when it comes to financing my home?
A wide topic, but here are a few to consider: That a spouse will be required to join in some of the loan documents even if they are not on the Note for the loan. Lenders these days are very keen on there being a Road Maintenance Agreement in place for users of a non-state maintained road.
These are sometimes difficult to obtain with some neighbors being unwilling to sign any such agreement. That most all lenders will require an escrow account to be established that will pay the property taxes and hazard insurance on the property during the loan term. These are just a few and should you have particular question make sure you speak with an attorney that can advise you.
Phillip C. Price
Real Estate Closings
• Affordable • Experienced • Accessible
828-633-2374 • www.phillippricelaw.com
Barrett W. McFatter, Associate • Barrett@phillippricelaw.com
Back to the top