Sentences with phrase «as unsecured debt»

Any part of your first mortgage that falls above the fair market value can also be classified as unsecured debt through the lien stripping process.

Secured loans, those that have physical property used to guarantee the loan, are usually not subject to negotiation in the same way as unsecured debt.

This type of debt is known as unsecured debt.

Chapter 13 bankruptcy allows the debtor to surrender a home, as well; however, any remaining deficiency judgment after foreclosure will be paid out as unsecured debt through the Chapter 13 plan.

If you leave your credit card debt as unsecured debts, filing for bankruptcy will discharge the debt completely.

Secured loans, on the other hand, are usually not as common as unsecured debt.

Some taxes can be discharged as unsecured debts, much like a credit card or medical bill, at pennies on the dollar.

Any amount you owe as a result of the cancellation will be included as an unsecured debt in your proposal filing.

In cases of bankruptcy these are treated in the same manner as unsecured debts.

Credit card debt, along with medical bills, payday loans and personal loans, is classified as unsecured debt.

Last year, New York - based TIAA - CREF was into the market for about $ 7 billion, of which $ 4 billion was allocated to conventional mortgage lending, $ 2 billion to CMBS and the remainder to other programs such as unsecured debt and preferred and common stock for REITs.

Based on a study of our clients from 2013 - 2014, almost one in five (18 %) insolvent debtors listed a payday loan as an unsecured debt.

Meanwhile, in Detroit, the city initially classified its general obligation bonds as unsecured debt before settling with creditors for less than 100 cents on the dollar.

Strip Off: Treating a wholly unsecured second or more junior lien as an unsecured debt.

Depending on the lender and the laws of your state, a short sale can result either in you owing the deficiency to the lender as unsecured debt, or in the lender forgiving the deficiency.

Therefore debts such as credit cards, loans, lines of credits, overdrafts, income taxes, and payday loans are included in the consumer proposal as unsecured debts.

The bankruptcy court treated the $ 7,000 second mortgage as an unsecured debt and discharged the debt when the creditor did not make any proof of claim for the money.

Penalties are always paid as unsecured debts, even if the tax giving rise to the penalty must be paid as a priority claim.

However, one of your team members, Brian, whom I met in Santa Ana, really cared about my situation and gave me such sound advice that not only was I able to keep my existing residence, but he informed me that if I filed Chapter 13, there would be a way to remove the 2nd trust deed loan on my primary residence as well as unsecured debt.

Allow home owners to shed excess mortgage debt by filing for bankruptcy, marking their home to market, securing replacement financing for new market amount under terms set by court, and treating the remaining amount as unsecured debt.

As part of a Chapter 13 action, in which the court orders a repayment plan for the debtor to complete over several years, the second mortgage is stripped from the home and viewed in the same way as unsecured debt, such as credit card and medical bills.

For instance, if you have credit card debts, payday loans or any other personal loans known as unsecured debts, you'll be inducted into the relief program or else your application will be turned down.

«REITs generally endeavor to have as many different sources of capital as possible, such as unsecured debt, bank capital, preferred stock, joint ventures, asset sales, and even through the secured market if they really need it,» Marks says.

LAWYER: The good news is that credit card debt is classified as unsecured debt, generally the easiest to wipe out in a bankruptcy filing.

By contrast, in a Chapter 13 bankruptcy, the deficiency between the foreclosure sale price and mortgage amount will be paid out as unsecured debt, at far less than 100 %.