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Real Estate & Property Law

: The Home Equity Theft Reporter

Federal Law Protects Against "Due On Sale" Clauses When Inheriting Mortgage Property From Relatives

By r morris

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A Real Estate Mailbag Q&A article by attorney and syndicated columnist Benny Kass serves as a reminder of the Federal law that protects those who inherit a mortgaged home of 4 units or less from relatives. Specifically, it prohibits lenders from demanding that the new owner(s) immediately fork over the entire outstanding balance on the loan by exercising a "due-on-sale" clause in the mortgage,

Full post as published by The Home Equity Theft Reporter on January 22, 2009 (boomark / email).

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