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Author Archives: Benny Kass

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Second mortgage snarls deed-in-lieu (access required)

DEAR BENNY: In a recent article about deeds-in-lieu of foreclosure, you didn’t discuss what happens to second mortgages or other claims on title. Are they automatically assumed by the bank? – Tracy   DEAR TRACY: You are absolutely correct that ...

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Sloppy landowner stumped by the pump (access required)

I purchased vacant land (more than a half-acre) a little away from the city in a country living-style neighborhood. At the time of purchase, the lot was overgrown and mostly couldn't be accessed except in one corner where a pumping station existed. I did not obtain a survey; I just looked at the county records/maps and purchased the land.

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Remorse may leave no recourse (access required)

DEAR BENNY: What are the obligations of an escrow agent? I signed a real estate sales contract and gave the seller a $10,000 earnest money deposit. He was supposed to escrow those funds until closing. However, I decided not to ...

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