Reverse Mortgages and Title Insurance in Ohio: What Seniors Need to Know
What a Reverse Mortgage Is and Why Title Matters A reverse mortgage, most commonly a Home Equity Conversion Mortgage (HECM), allows homeowners age 62 and older to convert home equity into cash without making monthly mortgage payments. Because the loan is secured by the home, and repayment is typically deferred until the homeowner moves, sells, …
County Auditor Property Valuations in Ohio: How They Affect Your Closing and Tax Prorations
A Number That Shapes More Than Your Tax Bill Every Ohio property has an assessed value set by the county auditor, and that number does far more than determine an annual tax bill. It also plays a direct role in calculating the tax prorations that show up on your closing statement. A change in how …
Assumable Mortgages in Ohio: What Buyers and Sellers Need to Know
A Rare Advantage in a Higher-Rate Market When mortgage rates rise, a seller who locked in a low rate years ago holds something valuable: the ability, in certain cases, to let a buyer take over that loan instead of originating a brand new one at today's rates. This is called a mortgage assumption, and while …