Sentences with phrase «borrower was on time»

If the borrower was on time with all payments for 12 months before the sale, there is no wait specified, meaning that an FHA loan might be available immediately.

However, if the borrowers were on time with all their payments a year prior to the short sale, they may have no wait at all and might even qualify for an FHA loan immediately.

Not exact matches

If the borrower is creditworthy and has made payments for the past 24 months on time, or is on active military duty, no additional action is taken.

You've heard of a loan shark breaking a borrower's kneecaps when a loan wasn't paid on time?

«From a borrower's perspective, you want to be able to lean on a relationship to help in good times and bad times.

Then it extends loans that are nearly impossible to extinguish in bankruptcy if borrowers fall on hard times.»

With Lending Club, borrowers pay a one - time origination fee (for 36 or 60 month loans), which ranges from 2 percent to 5 percent of the loan amount, depending on your loan grade (A-G), which is derived from your credit score, loan purpose, employment type, loan amount, loan term, and credit usage and history.

If rates are rising, borrowers typically seek to lock in lower rates of interest to save on interest rate costs over time.

The suggested fixes include capping loans at 65 per cent of the home value, introducing new and more conservative means of estimating how much a residence is worth, and amortizing the loans (meaning that borrowers would have to repay the principal within a certain time frame, as in a mortgage, whereas now they can simply keep paying interest on their HELOCs).

At the time outstanding loan balances are forgiven, a borrower is taxed on that amount as income.

This is because most private student loan lenders offer extended repayment plans and variable interest rates that seem lower at the onset of a loan refinance, saving borrowers money on their monthly payment as well as on the total cost of borrowing over time.

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

You are a first - time borrower for interest subsidy purposes if you had no outstanding balance on a Direct or FFEL Program loan on July 1, 2013, or on the date you obtained a Direct Loan after July 1, 2013.

Each loan forgiveness program requires years of on - time payments before loan balances are forgiven, so it is important for borrowers to weigh the pros and cons of career decisions in advance.

Even though these loans have higher interest rates for borrowers with bad credit, personal loans are a great way to rebuild credit history if you make all your payments on time.

Whether you are a long time borrower or expect your first student loans in the coming years, read on to learn how a Fed interest rate hike affects you.

While it decided not to, the Fed did say it expected «further gradual» rate increases would be justified — and there's broad consensus that it will raise rates (which can affect the amount banks charge borrowers, as well as interest paid on bonds) at least three times this year.

A technical loan default is when a borrower fails to meet a specific component of their loan compliance such as failure to comply with a non-financial covenant or a failure to deliver reports and financials on time.

The borrowers would benefit from Lending Club's lower rates compared to the high interest and fees they were paying to banks on their credit card bills; at the same time, investors would earn better interest rates than on CDs from a bank.

This also is beneficial to borrowers who have a proclivity to forget to pay bills on time or who have a tendency to misplace bills.

These policies allow the cosigner to be released from their financial obligation after the borrower has made on - time payments for a specified period — typically a few years.

While refinancing federal or private student loan debt helps streamline the loan repayment process, borrowers are required to repay the loan based on the terms agreed upon at the time the funds are received.

iHelp also offers co-signer release after payments have been made on time for 24 months and the borrower is deemed to be creditworthy.

Not be currently enrolled in school; borrowers with verified graduate degrees may apply while in their grace period, while graduates with bachelor's degrees must have made at least three on - time payments, and those who have not earned a degree must show proof of twelve on - time payments

Over time, repaying student debt has a positive impact on borrower's credit score and history, so long as the bill is paid on time each month.

Neither forbearance nor deferment count as default on a student loan which is incredibly beneficial for borrowers who may experience unexpected unemployment or a significant decrease in income for a period of time.

College Ave will accept applications for cosigner release after the borrower is halfway through the repayment term, has made 24 consecutive on - time payments, and can provide proof that they've been working for the last 24 months.

«On - time payments show that the borrower is responsible and will continue to pay their bill over time,» Eke says.

Specifically, Defendants made false and / or misleading statements and / or failed to disclose that: (i) the Company was engaged in predatory lending practices that saddled subprime borrowers and / or those with poor or limited credit histories with high - interest rate debt that they could not repay; (ii) many of the Company's customers were using Qudian - provided loans to repay their existing loans, thereby inflating the Company's revenues and active borrower numbers and increasing the likelihood of defaults; (iii) the Company was providing online loans to college students despite a governmental ban on the practice; (iv) the Company was engaged overly aggressive and improper collection practices; (v) the Company had understated the number of its non-performing loans in the Registration Statement and Prospectus; (vi) because of the Company's improper lending, underwriting and collection practices it was subject to a heightened risk of adverse actions by Chinese regulators; (vii) the Company's largest sales platform and strategic partner, Alipay, and Ant Financial, could unilaterally cap the APR for loans provided by Qudian; (viii) the Company had failed to implement necessary safeguards to protect customer data; (ix) data for nearly one million Company customers had been leaked for sale to the black market, including names, addresses, phone numbers, loan information, accounts and, in some cases, passwords to CHIS, the state - backed higher - education qualification verification institution in China, subjecting the Company to undisclosed risks of penalties and financial and reputational harm; and (x) as a result of the foregoing, Qudian's public statements were materially false and misleading at all relevant times.

«On - time payments are a huge aspect of having healthy credit,» says Joshua Eke, business development manager, Factor Funding Co. «Lenders will use this to determine whether or not you are a responsible borrower and evaluate your financial responsibility.»

In the industry's slimy underside, firms push borrowers into default and foreclosure, even when they've been making payments on time.

Likewise, a borrower with a good credit score and a pattern of paying bills on time might be turned down for having too much debt.

The borrower must be current on the mortgage at the time of the refinance, with no late payment in the past six months and no more than one late payment in the past 12 months.

Because the CMT rate declined in 2015, a borrower would be fortunate enough to come out of the five - year fixed period just in time to get a small discount on the monthly payment.

It also suggested credit providers were becoming more picky about who they would lend credit to at a time of regulator - driven curbs that have seen commercial lenders increasingly raise costs for borrowers on investment loan products such as interest - only loans, Mr Shilbury said.

A popular choice for first - time homeowners, FHA loans are a great way to secure financing for borrowers who have less money to put down on a new house and lack the credit history to qualify for a conventional loan.

A loan is considered «delinquent» when a borrower doesn't make a loan payment on time.

Additionally, as indicated in the first report on work of the new Borrower Defense Unit, the Department is applying time limits to curtail claims for relief by borrowers the Department has found were defrauded.

Experian said 2.44 percent of borrowers were 30 - days delinquent on repaying their loan in the fourth quarter, which is up slightly compared to the same time as 2015.

Borrowers like Ms. Cruz already have loans from microfinance institutions by the time their pictures are posted on Kiva's Web site.

Whatever the agreement is between the borrower and the cosigner, the repayment terms need to be met on time and in full.

It's important to note that when lenders calculate an APR, they assume borrowers make payments on time and in full, meaning late payment, NSF or similar fees are not included in an APR..

On the other hand, it can be ged by the lenders on the loan made available to another person called borrower for use so that the person (borrower) can repay in a future timOn the other hand, it can be ged by the lenders on the loan made available to another person called borrower for use so that the person (borrower) can repay in a future timon the loan made available to another person called borrower for use so that the person (borrower) can repay in a future time.

These costs are inevitably passed on to borrowers, making life even harder for first - time buyers struggling to get a foot on the housing ladder.

If you, like me, spend time searching for your car keys, wallet, and other personal items, The Borrowers is a movie that may shed some light on where all those things go.

In the new world, KDP select authors would be paid for each page of their work that remains on an e-reader screen long enough to be parsed, the first time the borrower reads the book.

Prior to 2011, e-book borrowers were able to check out several formats of e-books from their local libraries — including ePub, the free, «universal» e-book standard set by the International Digital Publishing Forum (IDPF) since 2007, used by Kobo, Barnes & Noble, Sony, and Google Books.50 However, e-book borrowers could not check out books on Amazon's Kindle, the predominant e-reader at the time.51 In 2011, however, Amazon partnered with OverDrive, and in September 2011 library patrons who own Kindles were able to borrow Kindle books from public and school libraries in the United States.52

At one time, it was quite common for lenders to push deferred annuities, insurance products that come with high fees and tie up the borrower's cash, on senior citizens.

Plus, the bank had set up the illegal late fees for some borrowers even when payments were made on time.

From a lender's perspective it's extremely important to know that a potential borrower will pay their bills on time as it is directly tied to their risk.