Will Substitutes

Revocable Living Trust In many jurisdictions, trusts cannot be revoked unless the trustor expressly retains the right to revoke. Revocable living trusts allow a trustor to manage his assets, to plan for his incapacity, and to avoid probate. The beneficiary … Continue reading

Constructive Trusts

Trusts are sometimes classified by the intent, if any, of the settlor to create a trust. This article discusses the kind of trust for which the settlor’s intent is irrelevant: the constructive trust. Defined When, to remedy an injustice, a … Continue reading

Mortgage Servicing

What is a mortgage servicer and what are the mortgage servicer’s obligations to the borrower? Jason just settled on his first home. During the closing Jason received a document that discussed mortgage servicing. In essence, the document indicated that Jason’s … Continue reading

Bi-Weekly Payment Plans

Jillian purchased her first home within the last year. She obtained a traditional 30-year, fixed-rate mortgage. The mortgage was payable in monthly installments. Since she moved in the house, Jillian has received numerous advertisements in the mail describing the tremendous … Continue reading

Flipping Scams

In recent years, so-called “flipping scams” have received widespread attention in the media. How does it work? An unscrupulous investor purchases a cheap, run-down, property. Usually, the property is situated in a low-income neighborhood. In some circumstances, the investor will … Continue reading