Bulletbobb
Junior Member
What is the name of your state?What is the name of your state? CT
I was looking at the mortgage for my house, which I purchased in 2000. The
mortgage was an 'Open-end Mortgage', on an FNMA Form 3007.
I looked at the current version of the same form, and it has changed to an 'Open-end Mortgage Deed'.
I always thought a mortgage and a deed were two different animals. Could someone explain what a mortgage deed is?
Also, I notice that the Form 3007 is used for an owner-occupied property. What would be the correct form to use for a non-owner-occupied property, like for a rehab, for example?
Thanks,
Bob
I was looking at the mortgage for my house, which I purchased in 2000. The
mortgage was an 'Open-end Mortgage', on an FNMA Form 3007.
I looked at the current version of the same form, and it has changed to an 'Open-end Mortgage Deed'.
I always thought a mortgage and a deed were two different animals. Could someone explain what a mortgage deed is?
Also, I notice that the Form 3007 is used for an owner-occupied property. What would be the correct form to use for a non-owner-occupied property, like for a rehab, for example?
Thanks,
Bob