State’s statute(s)

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Instructions
Building upon the previous written assignment, contractual agreements also provide methods for securing and retaining property. There are various methods in securing and retaining ownership of property or a right to ownership of the subject property. When a party fails to maintain his or her obligation under the contractual agreement, the subject property is subjected to foreclosure. This is facilitated through concepts such as title and lien theories. Each state has its own theory on this issue, which is described as using judicial foreclosure or non-judicial foreclosure.
Outside of foreclosures, a buyer typically will purchase the property via various real estate finance options. In terms of real estate financing, there are multiple methods. These methods range from conventional mortgages, to government-insured loans to seller financing options. In this essay assignment, you will also explore these aspects as well.
Instructions
(1) Research and provide your state’s statute(s) on the foreclosure process. You might start by reviewing this article, You might also review the following source:http://www.foreclosurelaw.org/index.htm. With a better understanding, you can then turn to Westlaw in the University Library to finalize your research.
Foreclosurelaw.com. United States foreclosure laws. (n.d.). Retrieved from http://www.foreclosurelaw.org/index.htm
(2) Answer and respond to the following in short essay format, of roughly 2 pages in length:
A. Explain the connection between judicial and non-judicial foreclosure and title and lien theory. Describe the difference between the two theories. What are the advantages and disadvantages of each theory?
B. Is your jurisdiction a lien theory or title theory state and how does the foreclosure process apply in this context?
C. Explain the differences between FHA and VA loans, including qualifications, eligibility, and other important factors.

D. Choose four (4) types of mortgages from the following list and compare and contrast these types of mortgages.
• Wraparound
• Blanket
• Balloon
• Junior
• Term
• Growing Equity (GEM)
• Adjustable Rate (ARM) or Variable Rate
• Open-End
• Amortizing
• Participation
(3) Cite all sources of information utilized.
(4) The viewpoint and purpose of this essay should be clearly established and sustained. Assignment should follow the conventions of Standard English (correct grammar, punctuation, etc.). Your writing should be well ordered, logical and unified, as well as original and insightful. Your work should display superior content, organization, style, and mechanics. Use the appropriate citation style for all citations.

 

 

 

Sample Solution

When you sign a mortgage or deed of trust as part of a home loan transaction, this document gives the loan owner the right to sell the property through a process called ” foreclosure” if you fail to make the payments. The proceeds from the sale go towards repaying the loan.Your foreclosure will be governed, in large part, by state law. In the chart below, you can learn about some key aspects of foreclosure law in each of the 50 states, plus the District of Columbia. For each state (and D.C.), the foreclosure chart will provide the following information:

g Saudi Arabia. Evidently, oil is one of Venezuela’s most valuable commodities accounting for 95% of Venezuela’s exports and 25% of its gross domestic product (Independent 2018). However, during a period of time in which the global price of oil dropped, foreign demand to buy Venezuelan oil dipped simultaneously. A key factor that lead to Venezuela’s current crisis, is evidently their sole dependence on a single commodity – oil. As University of Florida’s Gamarra explains, this means “you are bound to the ups and downs of the oil price,”. Without a range of high value added assets, an economy lacks diversity and is vulnerable to ‘moments of downturns in your principal commodities (CNBC 2019).’ On an individual basis, hyperinflation renders any savings worthless due to its eroding impact on money. Consequently, people may hoard goods for instance, food due to the soaring prices. Situations such as these may lead to shortages of food supply, contributing to the issue further. The Bolívar (Venuzuelan currency) depreciated in value as the cost of imports increased, leaving the Venezuelan economy to perish. Consequently, Nicolas Maduro – Venezuela’s new president – decided to print money (TheConversation 2019). Although this is an efficient strategy to implement during times of temporary price shock, in the case of Venezuela, the desired results didn’t adhere. Alongside the price of oil continuing to decrease, Venezuela’s oil output also fell resulting in international investors looking elsewhere further decreasing the value of the Bolívar. The government proceeded to print off more money in order to pay their expenses, inevitably resulting in the cycle that lead to hyperinflation (TheConversation 2019). To begin with, whether or not inflation is always deemed to be a challenge or if there are actually any potential benefits surrounding the macroeconomic issue will be discussed. Generally speaking, moderate inflation has some benefits, especially when it’s compared to deflation. For instance, the real value of debt decreases, moderate rates also enable prices of goods to adjust to their real value prices. In some cases, at levels of moderate inflation, companies are able to increase wages whilst the prices of goods increases. However, the average inflation target is usually around 2% which is quite contrasting to that of Venezuela’s. Long term economic growth is thought to be optimised when price stability is maintained, whic

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