REI INK

Legal

Understanding the Difference Between RIN and RON

E-closings are likely here to stay, so make sure you understand how they can be used. Typically, the closing process includes a variety of inperson tasks, culminating in the actual signing ceremony. To help keep real estate transactions moving forward during the coronavirus pandemic, the closing and title world had to consider alternatives to traditional inperson closings. E-closing seemed like a reasonable option during a time of physical distancing. States

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Leases, Mortgages and Court Proceedings in the Age of COVID-19

What are your options for seeking relief? American business was functioning rather well before the COVID-19 pandemic. Contracts were predictable to follow, based upon ordinary operations and expectations. COVID-19 changed all that. Overnight, American business had to contend with local and state executive orders to stay at home, engage in social distancing and substantially limit, if not cease, certain business operations. As a result, many companies have experienced a downturn

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COVID-19 Forbearance Plans and Residential Defaults

What will happen when the plans end, and what opportunities does the situation provide for investors? Not wanting to repeat the number of foreclosures during the previous financial crisis, both federal and state governments placed moratoriums on residential foreclosures across the country. To keep borrowers in their homes, foreclosures were stopped and new forbearance plans were created. How the Plans Work Under the Federal Cares Act, a borrower wanting a

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Property Preservation in Illinois: Know before you go!

Servicers and investors should be sure to know their options when code violations and preservation issues arise. As is often the case in mortgage servicing, properties secured by defaulted mortgages can wind up vacant or in need of repair. Depending on the condition of the property, the municipality may issue code violations and file suit, naming both the owners of the property as well as anyone with a recorded interest.

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