Tunnell & Raysor, P.A.

TF 800-541-5443
PH 302-396-9645

Trust Us To Be Your Voice | Se Habla EspaƱol

July 2016 Archives

Home sales and market recovery in 2016

Delaware homeowners interested in selling their houses could benefit from the 2016 housing market rebound. Sales of single-family homes in the United States are at their highest point since the 2008 housing bubble burst. The Commerce Department explained that sales increased 3.5 percent in June alone, which was significantly higher than analyst predictions. The dramatic increase came after a 6-percent drop in home sales in May.

Delaware law follows the lien theory mortgage doctrine

Most Delaware residents who take out a loan to buy a home or other piece of real estate will refer to the financial arrangement as a mortgage, but that term really applies to the interest that the lender has in the property rather than the loan itself. The mortgage assures that the lender's interests are protected should the borrower fail to make their required monthly payments.