Sentences with phrase «buyer agrees to new terms»

Additionally, the seller's bank may decline to approve the transfer of the mortgage unless the buyer agrees to new terms, like a higher interest rate or to pay a significant amount of money to pay down the balance due on the mortgage.

Not exact matches

As with the example above, mortgage lenders, mortgage insurance companies, second lien holders, and in the case of short sales, the new buyers have to agree to the terms of the loss mitigation program.

A term that refers to a real estate contract contingency used when a home seller and buyer agree to place a house under contract with the understanding that the buyer must sell his current house before finalizing the new purchase.