Sentences with phrase «as the borrower remains»

Reverse Mortgages: Reverse mortgages are another creative way to fund long term care and can help pay off existing mortgages or provide an ongoing income stream for as long as the borrower remains in the home.

The money from a line of credit can be withdrawn at any time as long as the borrower remains within the credit limit.

A HECM line of credit, on the other hand, remains in place as long as the borrower remains in the home in good standing and the amount available will never be reduced..

Not exact matches

As long as the actual rate of interest is equal to the fair rate of interest, as defined above, the purchasing power that is being temporarily exchanged between the borrower and the lender remains constant in labour timAs long as the actual rate of interest is equal to the fair rate of interest, as defined above, the purchasing power that is being temporarily exchanged between the borrower and the lender remains constant in labour timas the actual rate of interest is equal to the fair rate of interest, as defined above, the purchasing power that is being temporarily exchanged between the borrower and the lender remains constant in labour timas defined above, the purchasing power that is being temporarily exchanged between the borrower and the lender remains constant in labour time.

With this strategy, the borrower takes out a first mortgage loan for 80 % of the purchase price, uses a second loan for 10 %, and then pays the remaining 10 % out of pocket as a down payment.

Although these spreads have since risen from their lows, as foreign currency issuance by Australian corporates has picked up and the wave of uridashi issuance has peaked, they remained relatively attractive for Australian borrowers through the June quarter.

[xi] Still, black borrowers remain more than three times as likely to default within four years as white borrowers (7.6 percent versus 2.4 percent).

Even though the borrower doesn't have to pay the loan back as long as she remains in the home, when the loan does become due — after she passes away, for example — the heirs must pick up the tab.

The elephant in the room remains; with unemployment levels at 10.2 percent and expected to grow, many more FHA insured loans may fail as borrowers lose their jobs and / or exhaust their resources paying for homes they can neither afford nor sell in today's depressed markets.

As Delisle explains, «Had the [Obama] administration left the original IBR program in place, borrowers would have paid 50 percent more before having their remaining debt forgiven under PSLF» (p. 3).

In comparison to conventional mortgages, FHA loans still remain competitive as it often results in fewer pricing hits during a cash out transaction — meaning lower monthly mortgage payments for borrowers.

Borrowers with reverse mortgage loans are guaranteed the right to remain in their homes as long as they wish, and do not have to repay their mortgage loans unless they vacate the property securing the reverse mortgage loan.

Combined with access to various income - driven repayment plans that provide for monthly payments as a percentage of discretionary income, many borrowers who will ultimately default remain in good standing during the CDR measurement period without ever making a payment.

At the end of the repayment term, either 20 or 25 years, the remaining balance is automatically forgiven so long as borrowers have made consistent, on - time payments.

Borrowers who do not have an immediate need for funds do not have to pay interest on the funds as long as they remain un-borrowed and available to the borrower.

The credit line gives the borrowers the option of taking as much money as they wish at initial funding, but then with the remaining funds the borrowers can access the funds as they desire.

The borrowers fail to abide by all loan terms, including remaining current on all property obligations such as paying real estate taxes and insurance and keeping up with home repairs.

However, cancellations from HAMP trial plans remain high as many borrowers who received temporary modifications were not able to meet eligibility requirements such as verifying their income and successfully making trial payments.»

As long as the borrowers continue living in the home as their primary residence and remain current on all loan obligations (including paying the taxes and insurance and keeping up home maintenance), the loan balance will not become due and payablAs long as the borrowers continue living in the home as their primary residence and remain current on all loan obligations (including paying the taxes and insurance and keeping up home maintenance), the loan balance will not become due and payablas the borrowers continue living in the home as their primary residence and remain current on all loan obligations (including paying the taxes and insurance and keeping up home maintenance), the loan balance will not become due and payablas their primary residence and remain current on all loan obligations (including paying the taxes and insurance and keeping up home maintenance), the loan balance will not become due and payable.

The loan remains in delinquent status until the borrower takes an action such as payment, deferment, or forbearance.

(The other remaining borrowers» loans were resolved through involuntary collection methods such as tax refund offsets.

The Department stated that borrowers will be notified on a rolling basis as their discharge is finalized and that ``... the remaining pending claims will be adjudicated systemically under the newly announced discharge process.»

A refinance transaction in which the new mortgage amount is limited to the sum of the remaining balance of the existing first mortgage, closing costs (including prepaid items), points, the amount required to satisfy any mortgage liens that are more than one year old (if the borrower chooses to satisfy them), and other funds for the borrower's use (as long as the amount does not exceed 1 percent of the principal amount of the new mortgage).

Additionally, as monoline lenders who are unable to raise sufficient capital close their doors or merge with others to remain in the market, there will be less competition among lenders, thus increasing rates and costs for borrowers.

With mortgage interest rates known as «fixed mortgage rates», the borrower's monthly payments for interest and principal remain the same for the duration of the loan.

From the Principal Limit any costs to obtain the loan are subtracted, any existing mortgages and liens must be paid in full and any remaining money is the borrowers» to do with as they please.

Depending on the phase of your loan, remaining unused funds in escrow may ultimately result in a reduction in loan principal rather than as cash back to the borrower in some form.

Rates are still expected to move higher as we march through 2018 so our recommendation remains for borrowers to take action on a purchase or refinance soon.

When a borrower loses their home to foreclosure and still owes their lender money after the sale, the remaining debt is usually referred to as a deficiency.

IDR plans are designed to help ease student debt burden by setting loan payments as a percentage of borrower income, extending repayment periods from the standard 10 years to up to 25 years, and forgiving remaining balances at the end of that period.

Reverse mortgages are advantageous because all loan payments are deferred as long as the property remains the borrower's primary residence.

Reverse mortgages are advantageous to seniors because all loan payments are deferred as long as the property remains the borrower's primary residence.

In fact, reverse home mortgages are advantageous because all loan payments are deferred as long as the property remains the borrower's primary residence.

Most importantly, it's in the borrower's and lender's interest that the house remains up to date on taxes, as the house is being used as collateral until the mortgage is paid off.

While the borrower makes payments on the collection account, the account will remain open and will be listed as a «collection account» on the borrower's credit report.

All loan payments are deferred as long as the property remains the borrower's primary residence.

Reverse mortgage programs can be advantageous because all loan payments are deferred as long as the property remains the borrower's primary residence.

Stage Seven: Repayment All loan payments are deferred as long as the property remains the borrower's primary residence.

The loan amount granted will first pay off the remaining mortgage, if any, plus any financed closing costs, and the rest will be disbursed as cash to the borrower.

Borrowers must be at least 62 years old and occupy as their principal residence a home that has little or no mortgage debt remaining.

• If a borrower only has undergraduate loans under the new plan, forgiveness of any remaining balance will occur after 20 years on the Revised Pay As You Earn plan.

Fifth, while REPAYE seduces the borrower with such tinsel as removing the «Partial Hardship» requirement that was an eligibility requirement in prior programs, the fact remains that this repayment scenario takes the original 10 - year term and extends it to 20 years!

It appears that this is a program that will remain small and will have a very limited impact on the market as a whole, but generally speaking, do you think that issuing no - money - down mortgages is good policy, even when the borrowers have been thoroughly vetted?

It's better to have your debt in forbearance, rather than default, as legally the borrowers can demand the full remaining balance.

The remaining amount is then paid as borrower - paid additional monthly installments.

Student loan borrowers can refinance their student loans as many times as they would like, so long as their credit and income remain strong.

Because the interest rate is set for a period of time that may be as long as thirty years, the borrowers annual payments will remain unchanged for the duration of the time you hold the loan.

Debts such as student loans which were taken on prior to the marriage will remain the obligation of the original borrower.

A mortgage possession order — in the conventional form N31 — which suspended possession so long as the borrower paid current instalments and in addition discharged the specified arrears remained in force even after the arrears had gone

«As always, whether the goal is to lower one's monthly payment or to take equity out of the house for other purchases, borrowers should carefully review their own financial situation, consider the length of time they plan to remain in the home, and make sure to fully account for all closing costs when considering refinancing their home mortgage,» Mike Fratantoni, the MBA's Chief Economist, says.