The credit report will usually state whether the prospective home buyer has any bankruptcies, foreclosures, delinquent credit payments, or has failed to pay a credit loan. In some states the escrow functions are handled by a licensed title insurance company, or an escrow company, while in other states an attorney handles the transaction. The FHA insures the home buyer's loan to the lender. Usually, there is a fee for this insurance. A lender usually provides the homeowner with a loan while the VA guarantees that the loan will be repaid to the lender.
Someone Find out how often someone has sued or been sued, and about bankruptcies and liens.
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