Sentences with phrase «borrower has enough money»

Borrower has enough money in the bank (i.e., cash reserves) for the first two mortgage payments.

Plus, three key regulatory changes have made these loans safer than ever by eliminating lump - sum withdrawals, covering non-borrowing spouses and requiring a financial assessment that ensures the borrower has enough money to pay taxes and insurance.

Borrower has enough money in the bank (i.e., cash reserves) for the first two mortgage payments.

Not exact matches

If the new business isn't generating enough income, the borrower should have to earn the money in another way and send the payment every month no matter what.

Since you face the risk that your money will be spent on something that won't generate enough revenue to pay you back, you will want to understand the borrower's plan and hopefully have the business savvy to do that.

A number of operational features were required to implement such an overnight reverse repo, or ON RRP, facility: It would need same - day settlement; 16 the operation would need to be run predictably, every day, and as late in the day as possible, to give lenders time to bargain with other counterparties using the outside option of investing with the Federal Reserve; 17 an appropriate spread below IOR would be required to ensure that the facility neither induced large changes in the structure of money markets nor lost the ability to support interest rate control; 18 and the operations would need enough unused capacity that lenders could credibly propose to leave borrowers that did not offer an adequate interest rate.19

And if you're a student loan borrower, you should make sure you have enough money to cover your loan payments before dabbling in cryptocurrency.

Borrowers will no longer be able to rely on existing pre-approvals obtained by using the HEM benchmark as they can then find themselves in a position where they have won an auction but then the bank does not give them enough money to settle which would mean losing their deposit.

Non-sufficient funds (NSF) and unsuccessful payment fee: These fees are assessed if a loan payment is unsuccessful — this normally happens when the borrower's bank account does not have enough money to cover the amount that is being withdrawn.

Short sales usually occur before foreclosure, when a lender has determined that a borrower is in default and can neither make the payments nor sell the property for enough money to cover the loan balance.

When borrowers don't have enough money in their checking accounts to pay back the loans, many tribal lenders automatically rollover their loans, causing additional fees and interest costs.

Non-sufficient funds (NSF) and unsuccessful payment fee: These fees are assessed if a loan payment is unsuccessful — this normally happens when the borrower's bank account does not have enough money to cover the amount that is being withdrawn.

If a property is sold as the result of a mortgage default, but the sale does not generate enough money to pay the outstanding balance and all associated costs, fees and interest, the insurer will pay the shortfall to the bank and will then have the right to enforce against each borrower personally for the deficiency.

So, there is not much risk for the borrower, since till he joins the workforce and starts earning enough money, he will not have to repay the loan.

That leads to numerous «insufficient funds» penalties if the borrower doesn't have enough money in his account to make the lump - sum payment.

Once enough investors have agreed to contribute to a request, the money is transferred to the borrower by the lending company.

Hard money lenders will also require the borrower be strong enough financially and has the necessary cash reserves to pay the monthly loan payments and other responsibilities of the property.

With each loan flip or new loan, borrowers are unable to both repay the lender and have enough money left until the next payday arrives.

The VA loan program does more than others to look out for borrowers» best interests by making sure they have enough money left to live on once their bills are paid.

However, hard money might have several potential benefits that have proven reason enough for Borrowers to take the higher rates, such as: