1. The mortgage papers are signed.  It is the banks paperwork, if you don't sign all the documents you don't get the loan.
2. The HUD is part of the mortgage paperwork.  It is the one of the most important pieces that you sign.  It breaks down the closing costs, tax pro-rations for both the buyer and seller.
3. The note is part of the mortgage paperwork.  It breaks down the loan amount, the interest rate, and the length of time.
4. The mortgage is usually 15 pages of legal mumbo-jumbo.  Basically it says you owe the bank and how the bank can the home back if you make your payments. 
5. The warranty deed is signed conveying the property from the seller to the buyer.
6. Real estate documents and title company documents.
7. Money is exchanged
8. Keys are exchanged.

As I tell people if you don't sign the documents you can't close on the house, or buy on the house.  Usually you should go over the HUD with your mortgage person.  You can ask real estate agent and your mortgage person to send the documents you are going to sign to you via email.  Usually this can be done.  This makes it easier because you can read over the paperwork and ask questions.

Russ Ravary your Livonia real estate agent serving Wayne, Oakland, Livingston, Macomb, and Washtenaw Counties 

Bode's Corned Beef House - http://www.bodehouse.com/ 280 N. Main Plymouth, MI

• Phone: 1-734-453-1883
• Fax: 1-734-453-0466
• Carry-Out: 1-734-453-1883 

Sean O'Callaghan's Ltd  - www.seanocallaghanspub.com  Located just a short walk from Kellogg Park or the Post Office!
821 Penniman Avenue, Plymouth MI 48170 - (734) 459-6666

Doyles Tavern (734) 207-9656 860 Fralick St, Plymouth, MI.  Fralick is the street behind the post office.

Sheehan's on the Green
39450 Five Mile Rd
Plymouth, MI 48170  734-420-0646

Many of these bars will have a line outside by noon.  So come to downtown Plymouth Michigan and enjoy our Irish pubs and Irish taverns like Doyles or Sean O'Callaghan's.  Sheehan's is located on Five Mile near I-275.

Russ Ravary| Remerica Hometown One | 734-414-3261 Warrington, Wixom, MI Former Builders Model, Finished Basement, Beautiful inside and out! 4BR/3+1BA Single Family House   offered at $289,900 Year Built 1996 Sq Footage 2,294 Bedrooms 4 Bathrooms 3 full, 1 partial Floors 1 Parking Unspecified Lot Size Unspecified HOA/Maint $177 per month DESCRIPTION BEAUTIFUL HOME INSIDE AND OUT. FORMER Builder' s MODEL. WALLED LAKE SCHOOLS. CATHEDRAL CEILINGS, LARGE OPEN KITCHEN, FORMAL DINING ROOM, LARGE MASTER BEDROOM WITH 2 WALK IN CLOSETS, STUNNING LANDSCAPE WITH FENCED IN YARD AND LARGE DECK. FULLY FINISHED BASEMENT WITH WALK OUT , PREMIUM LOT IN SUB,   see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Fireplace - High/Vaulted ceiling - Walk-in closet - Hardwood floor - Family room - Dining room - Basement - Laundry area - inside - Balcony, Deck, or Patio - Yard ADDITIONAL PHOTOS Walkout Lot Beautiful kitchen Large living room Dining room finished basement finished basement Contact info: Russ Ravary Remerica Hometown One 734-414-3261 For sale by agent/broker Equal Opportunity Housing Posted: Mar 13, 2010, 4:32am PST

 

 

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The Claddagh Irish Pub

17800 Haggerty Road, Livonia - (734) 542-8141  A great place Irish food and drink located on Haggerty Rd between and Six and 7 Mile Rd.  This is probably Livonia's largest Irish bar.

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O'Malley's Bar & Grill

15231 Farmington Road, Livonia - (734) 427-7775  Opens at 9 a.m. and will serve Irish fare, including corned beef and cabbage, shepherds pie, and Irish stew. Breakfast also will be available. Bagpipers and Irish dancers will perform.

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Paddy's Pub

36000 Seven Mile, Livonia, MI 48152  248-473-1300  Located at Fox Creek Gulf Course on Seven Mile between Farmington and Newburgh

Here are two examples of short sale fraud I have seen.

1.)   A real estate agent takes a short sale listing.  He tries to influence the banks BPO agent to give a low price.  If he is able to negotiate a low price below market value he has a "friend" buy the property.  The friend buys the property and then the agent re-lists the property after a little fix up.  The agent gets some of the profit from the sale and gets the listing commission too.

2.)   A seller hires a real estate agent they know to get ready to list a short sale.  The sellers friend or family member with a different name gets another agent.  The buyer tells them they know of a short sale that is coming on the market. The same day the house comes on the market before anybody else can bid on it the sellers friend or family member puts in an offer.  That offer goes into the bank because the listing agent is using first in only.

Other higher and better offers come in, but the sellers agent disreguards them because they use the "first in" rule.  They dis reguard their obligation to get the best deal or highest offer for the bank.  They protect the seller.  The seller's friend or family member buys the house.  The seller continues to live in the house.  The seller's friend either leases it back to the seller, or has the seller pay the mortgage payment to them.

The short sale seller has bought their own house back at a much lower price than they originally bought it for with the aid of their real estate agent.  They have beaten the bank out of money and helped commit mortgage fraud. 

It's happening already and I don't think the banks or the FBI is going after these people individually.