Bankruptcy

TRID is actually a combination and condensed version of two such regulations: the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA). What’s the relationship between TILA-RESPA and Trid quizlet? What’s the relationship between TILA, RESPA, and TRID? The Dodd-Frank Act requires that lenders use the…

Despite its technical-sounding name, the subordination agreement has one simple purpose. It assigns your new mortgage to first lien position, making it possible to refinance with a home equity loan or line of credit. Signing your agreement is a positive step forward in your refinancing journey. What does it mean…

The primary tool the Office of the Attorney General uses to protect Texas consumers is the Deceptive Trade Practices Act (DTPA). This law lists many practices that are false, deceptive, or misleading. When you fall victim to illegal practices covered by the DTPA, you may have the right to sue…

The Petition to Probate Will in Solemn Form asks the Court to review the Will and determine if the Will is valid, to determine if all of the appropriate parties received notice, and to issue an Order and Letters Testamentary which allow the Executor to administer the deceased’s estate. How…

If you would like to record the mechanics lien yourself, you can do so at the following Los Angeles County Recorder’s Offices: Norwalk- 12400 Imperial Hwy., Norwalk, CA 90650. Lancaster – 44509 16th St. West, Suite 101, Lancaster, CA 93534. LAX / Courthouse – 11701 S. La Cienega Blvd., 6th.…

The Truth in Lending Act (TILA) protects you against inaccurate and unfair credit billing and credit card practices. It requires lenders to provide you with loan cost information so that you can comparison shop for certain types of loans. What does the Truth in Lending Act Regulation Z requires? The…

two standard deviationstwo standard deviations away from the mean is considered “unusual” data. How many standard deviations from the mean is normal? The empirical rule, also referred to as the three-sigma rule or 68-95-99.7 rule, is a statistical rule which states that for a normal distribution, almost all observed data…

A breach of contract occurs whenever a party who entered a contract fails to perform their promised obligations. Due to the frequency of breaches of contract, a robust body of law has grown to resolve the ensuing disputes. What do you mean by breach of contract? A breach of contract…

Bondholders can earn a fixed income with regular interest—or coupon—payments. Bondholders have the benefits of a safe, risk-free investment with U.S. Treasurys. In case of company bankruptcy, bondholders receive payment before common stock shareholders. Are stockholders paid before bondholders? Usually, bondholders are paid out first, and common shareholders are paid…

Accordingly, a Liquidated Loan means a Loan which has been liquidated or paid back. The liquidation of a loan can be either by way of payment in full, a disposition, a refinance or a compromise. In addition it can also be a sale to a charged Off Loan Purchaser or…

A copy of the summons and of the complaint shall be mailed (by first-class mail or airmail, postage prepaid) to the person to be served, together with two copies of the notice and acknowledgment provided for in subdivision (b) and a return envelope, postage prepaid, addressed to the sender. Can…

An R10 ACH return code means an ACH payment was not authorized due to incorrect submission, ineligibility, or an incomplete transaction. What is the meaning of R10? Return Code (R10) – Account holder advises that transaction is not authorized. – Buildium Help Center. Accounting. ACH Return Codes. What is R10…

There is no specific limitation on the number of cars a person may own and keep in bankruptcy. However, there are other limitations that do come into play. The law limits the amount of equity a person can protect. You may protect up to $4,000 equity in one vehicle. How…

Bank statements, and all other bank records, i.e., deposit receipts, account transfers, etc., for each escrow account shall be kept by the Sponsoring / Managing Broker for a period of at least five (5) years. How long must a broker retain earnest money records? Although agents are required by law…

A commercial loan agreement refers to an agreement between a borrower and a lender when the loan is for business purposes. Every time a substantial amount of money is borrowed, an individual or organization must enter into a loan agreement. What is the meaning of commercial loan? A commercial loan…

An assignment in this context is what gives a party the legal designation and right to move forward with legal action on a property, whereas an allonge is an endorsement that allows you to collect on the promissory note. What does allonge mean in mortgage? Allonge (Real Estate Glossary) Allonge…

An order of the court declaring the estate of a deceased person insolvent. An insolvency administration order broadly speaking is the equivalent of a bankruptcy order but relating to a deceased’s estate rather than a live individual. What is the administration order? An administration order (AO) is a formal and…

A mortgage note is a legal document that sets out all the terms of the mortgage between a borrower and their lending institution. It includes terms such as: The total amount of the home loan. The down payment amount. Whether monthly or bimonthly payments are required. What does it mean…

Notices of liens, and.…A1. Go to the UCC filing system. Click on the type of search. To search by the debtor’s name, click on “Standard search.” To search by the document number, a secured party, or other information, click on “Advanced search.” … Enter the information that you want to…

In discretionary systems, release is granted following a decision by a parole boardparole boardA parole board is a panel of people who decide whether an offender should be released from prison on parole after serving at least a minimum portion of their sentence as prescribed by the sentencing judge. What…