Sentences with phrase «1st lien holder»
After a period of time the 1st lien holder orders an appraisal to verify market value and after doing their due diligence determines that $ 290,000 is well within the acceptable limits of market value.
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The buyer's agent and myself were going to pay it out of our commission but the 1st lien holder refuses to allow it on the HUD.
The 2nd lien holder will be able to foreclose on the property if they make loan payments to the 1st lien holder on behalf of the borrower in order to keep the 1st loan current.
And why buy 2nd mortgages if there is a 1st mortgage or can you negotiate with the 1st lien holder to accept a discount?
After a period of time the 1st lien holder orders an appraisal to verify market value and after doing their due diligence determines that $ 290,000 is well within the acceptable limits of market value.
There are tax advantages to the lender that far outweigh the offer of $ 5000 that they received from the 1st lien holder.
The buyer's agent and myself were going to pay it out of our commission but the 1st lien holder refuses to allow it on the HUD.
Not exact matches
A buyer comes along and makes an offer for $ 290,000 which is accepted by the seller and sent to the 1st and 2nd lien holders.
However, you are still responsible to pay those senior to you in this case the 1st and 2nd lien holders.
If the borrower defaults on the 1st loan, the lien holder of the 1st will be able to foreclose on the property and wipe out the 2nd lien holder's interest in the property.