Posted To: Pipeline Press

Lenders and servicers don’t like weather extremes. Hurricane season is nearly over. While the East Coast is bracing for a storm, however, it’s feast or famine in the West, when, in the span of a few days, large swaths of land go from drought and fires to rain and flooding. And lenders and servicers are impacted: who wants to own the collateral on a $300,000 debt when it is threatened by fires, floods, hurricanes, or tornadoes? Or ghosts. Do you believe in ghosts? Me neither… but I wouldn’t want to upset any of them in case they’re in the attic. In at least nine states, there is a law that requires home sellers to disclose if there was a recent death on the property, and the great state of New York goes so far as to have it be illegal in some circumstances to sell…(read more)

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Source: Mortgage News Daily