If you didn't know you were eligible for unemployment benefits, you may be able to get your payments back-dated.
This depends on your state; some states are more lenient than others.
If you take out a reverse mortgage loan, you must remain current on your property taxes and any condo fees (if applicable), and you must have sufficient homeowners insurance coverage.
Just as with any other type of home loan, a reverse mortgage means your lender wants some type of collateral to protect the investment in the invent your home is damaged or destroyed by a fire or some other disaster.
The commonwealth-trained (and more prudent) approach would be to insert the date only when the last party has signed and to use a date no earler than the date of that last signature.
Even for a simple document such as a Non-Disclosure Agreement (or Confidentiality Agreement), the parties may legitimately want the document to take effect from an earlier date.
Generally, your reverse mortgage loan documents will require that you carry a homeowners policy equal to 100% of replacement cost of the property.
If you have valuable personal property, you’ll want to add additional coverage to replace those things if they’re stolen, lost or damaged.
1990) held that: “Illinois courts have, in the past, permitted the “relation back” theory of contract effectiveness: that is, contractual terms may be effective for a period before the contract is executed, so long as such coverage is clear from the face of the contract: In the law of contracts, it is elementary that ordinarily a contract speaks from the day of its date, regardless of when it was executed and delivered.
It is of common occurrence in connection with deeds, leases and other contracts that, while they are not in effect at all and have no legal existence until delivered, yet, in respect to the date of delivery, they, in point of commencement, relate back or commence in the future.