Sentences with phrase «existing lien holders»

Existing lien holders must agree to accept the proceeds of the H4H refinance as full payment, and to release their liens.

If borrowers have gone through a modification where the payment wasn't brought current by the existing lien holder they can be eligible for this program if (1) the modification was made under the terms of the Making Home Affordable Modification Program (HAMP), the loan may close the month following the date the modification was permanent or (2) the modification was a non-HAMP modification, the borrower must have made three monthly payments on time and the modified mortgage must be current for the month due

Make sure all quotes and / or approvals have the same starting figure, which is: A) The amount paid to your existing lien holder.

Not exact matches

Existing subordinate lien holders, in particular, are highly unlikely to agree to release liens at a complete loss.»

Loan servicers can receive $ 1,500 for administrative expenses, and lenders can get as much as $ 2,000 for allowing up to $ 6,000 of short sale proceeds to be distributed to subordinate lien holders (if they exist).

* Under certain conditions explained below, FHA will insure first mortgages where (1) the existing note holder writes off the amount of indebtedness that can not be refinanced into the FHA insured mortgage; or (2) either the FHA approved lender making the new mortgage or the existing note holder may take back a second lien that includes closing costs, arrearages or previous secondary financing if the indebtedness exceeds FHA prescribed LTV and maximum mortgage amount limits.

You also need to provide employer information and income figures regarding your gross monthly income, data from your existing loan, such as the original loan amount, current interest rate, monthly payment and lien holder, plus information on the vehicle itself such as year, make, model and style (i.e. 2004 Honda Accord EX).

The existing loan to be refinanced may not have been brought current by the existing first lien holder, except through an acceptable permanent loan modification

Any offer made that does not fully cover the existing amount (s) owed to the lien holders (s) plus the costs of sale could be subject to lien holder approval, which approval may be exercised at the sole and exclusive discretion of the lien holder (s).