Sentences with phrase «subordinate lien mortgage»

IN: DFI First Lien Mortgage Lending License 21573; DFI Subordinate Lien Mortgage Lending License 21574 MI: First Mortgage Broker / Lender License FL0017723; Second Mortgage Broker / Lender Registrant License SR0017724.

IN: DFI First Lien Mortgage Lending License 21573; DFI Subordinate Lien Mortgage Lending License 21574 MI: First Mortgage Broker / Lender License FL0017723; Second Mortgage Broker / Lender Registrant License SR0017724.

Not exact matches

All subordinate / junior liens must be resubordinated to the new first mortgage.

a) The loan is limited to a combined LTV (FHA insured first mortgage and any subordinated lien) of 85 % of the appraised value, provided the borrower has owned the property for at least one year.

In a program which went into effect Monday, HUD explains that with the exception of streamline refinance transactions, the combined amount of the FHA - insured first mortgage and any subordinate lien may not exceed the applicable FHA loan - to - value ratio AND the geographical maximum mortgage amount.

It mandates principal reductions and does not permit new subordinate liens to be used to pay off some portion of the existing mortgage debt, even if that debt were secured by the value of the property.

A reduction in the total mortgage payment (principal, interest, taxes and insurances, HOA fees, ground rents special assessments and all subordinate liens): The new total mortgage payment is 5 % lower than the total mortgage payment for the mortgage being refinanced.

FHA doesn't limit CLTV as long as secondary liens are subordinate to your FHA mortgage loan, and you have enough income to pay both first and second mortgage liens (if applicable).

Not all lending companies offer 2nd mortgage liens, in fact most do not offer any type of subordinate loan program at all.

The holder of the second mortgage must agree to «subordinate» its lien to that of the new first mortgage lender.

Evidence that all remaining PUD HOA assessments are subordinate to the first lien is required to be documented in the mortgage file.

A refinance transaction in which the amount of money received from the new loan exceeds the total of the money needed to repay the existing first mortgage, closing costs, points, and the amount required to satisfy any outstanding subordinate mortgage liens.

The partial claim note is recorded as a subordinate lien, meaning the first mortgage maintains payoff priority.

Typically, this means that home equity lenders must agree to release or subordinate their liens to the new refinance mortgage.

A third mortgage is a loan that is subordinated to existing first and second mortgage liens.

If there is an existing second mortgage on the property, such as a Home Equity Credit Line, the entire lien must be subordinated at refinance.

NO, you can not combine a 1st and 2nd mortgage together in a HARP refinance, but they will allow you to subordinate your current second lien and refinance your underwater 1st mortgage.

I'm recently divorced and in the process of closing on a house, and was given the option by the title company of either having my ex sign a Subordination of Child Support Lien or executing a Money Mortgage Deed of Trust Affidavit (which apparently would automatically subordinate the Child Support Lien by Nebraska state law).

Also, each tenant must subordinate its lease to the lien of our mortgage by executing an acceptable Subordination, Attornment and Non-Disturbance Agreement («SNDA»).

• HAFA will no longer impose a 6 % cap on payments to each subordinate mortgage / lien holder.

Wingspan was founded in 2008 to serve the interests of mortgage insurance companies and subordinate lien holders.

A: You may only participate in a property tax deferral program if the lien created by your deferral program is subordinate to your reverse mortgage loan.

Subordinate financing refers to liens that are secondary to a first lien or mortgage.

• The amount the primary mortgage holder can pay to subordinate lien holders has been increased from $ 2,000 to $ 5,000.

Increases maximum incentive to subordinate mortgage holder (s) to $ 8500 in exchange for a lien release and full release of borrower liability.

A subordination provision changes the priority: The tenant agrees that the lien of its lease will be subordinate to the lien of a mortgage.

The term «federally related mortgage loan» is broadly defined to encompass virtually any purchase money or refinance loan, with the exception of temporary financing, that is «secured by a first or subordinate lien on residential real property (including individual units of condominiums and cooperatives) designed principally for the occupancy of from one to four families...» 12 U.S.C. 2602 (1).

As Jlen said, MA is a recourse state so the bank can put a lien on your next place (subordinate to the primary mortgage and implied condo fee superlien) and / or seize your bank accounts.