Sentences with phrase «case of a second mortgage»

This is their only sure way of mitigating risk especially in the case of a second mortgage where the remaining equity might not be enough to compensate them after the property is sold.

Not exact matches

An illegal war Uncontrolled immigration # billions leaking every year via new quangos Students (in England) now have to mortgage their futures to get to University 24 hour binge drinking breakdown of the family vast increase in licensed gambling External debt quadrupled to $ 11 Trillion making us the second largest debtor nation in the world after the USA at $ 12 Trillion (we may overtake them later this year) Pension funds pillaged for # 5Bn a year Gold reserves sold for a pittance Children leaving school unable to read or write NHS a basket case - 1 in 10 leave hospital sicker than when they went in.

OK, so there's no optional silicone case like you get with the Kids Edition versions of Amazon's smaller slates, but it'll still survive a beating better than an ultra-delicate iPad Pro you'd have to take out a second mortgage to buy.

With a short sale, all lenders involved must agree to the deal, and in many cases the holder of the second mortgage ends up taking a loss.

Home equity loans and home equity lines of credit are called second mortgages because they are in second position when it comes to repayment in the case of a foreclosure.

Most private mortgages and second mortgages in Ontario have a maximum loan to value ratio (LTV) of 85 %, in some cases the LTV can be as high as 90 %.

In the case of default, the initial mortgage must be settled before the second mortgage.

In case the borrower opts for a balloon mortgage or interest only mortgage as a second mortgage, the lender has to consider all possibilities of receiving payments.

Most private mortgages and second mortgage have a maximum loan to value ratio (LTV) of 85 %, in some cases the LTV can be as high as 90 %.

It is important to use a reputable second mortgage broker, mostly due to the fact that in Aurora, mortgage appraisal requirements differ from lender to lender, especially when it comes to the loan to value ratio factor, which in most cases determines your chances of getting a second mortgage loan.

In most of these cases, the investor of the first mortgage is not the same investor for the second mortgage, making it increasingly difficult to modify their first mortgage.

Short term home mortgages can be modified in Chapter 13: In re Latimer (Bk # 08 - 21242; Decision October 28, 2008; Judge Ninfo): Chapter 13 case: the debtors had a second mortgage where the final payment was due within the five year time period of the plan.

Consumers then walk away from their plan, free of all unsecured debts and their second mortgages in some cases.

Appraisal — In most cases you will need an appraisal of your home or property in order to get a first or second mortgage.

In most cases the lender of the second mortgage will require an appraisal of your property.

A home can have a number of lenders, with the first lender first in line in case of the home defaults on payment, and the second and third mortgage lenders next in line in that order.

However, in certain cases, home owners have bad credit, or are self - employed or unemployed, or have a history of missed mortgage payments which locks them out of second mortgages by banks and financial institutions.

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.

When the home is sold or foreclosure upon (in the case of a default), the first mortgage lien holder is paid first and the second mortgage lien holder is paid later.

The other type, installment credit, is simply a loan to pay for a car, a house, or, in the case of many second mortgages, necessary home repairs.

Second mortgages usually have higher interest rates since they are higher risks because in the case of a foreclosure, the lender may not fully be able to redeem their investment.

This is because the first mortgage takes precedence over the second in terms of repayment in the case of default.

And in some cases, chapter 13 gives debtors a chance to remove second mortgages or home equity lines of credit from their home.

In both cases, the sum of your first mortgage plus the new second mortgage typically can't exceed 90 percent of the value of your home.

In this case, we actually worked successful in negotiating a discount with the first lender, but we knew even if we purchased it for the amount of the first mortgage and the second it'd still be a deal, so we went ahead and paid off the first — they were the ones foreclosing — and then we continued to negotiate with the second, even though they really had no reason to negotiate with us... But we thought we'd just give it a shot, and ended up getting it for the amounts in the first and the second.

«(In) most cases you're still looking at first and second mortgages, trying to help them repair their credit and then afterwards trying to refinance them out of that mortgage because the property has appreciated in value so we may be able to finance at 80 per cent loan - to - value and get them out of that product.»

In this case, the lenders advanced funds ($ 55,000) before registering the mortgage in the Land Title Office, and Mr. Gill, who had learned of the fraud, filed a caveat which prevented the second mortgage from being fully registered.

Here are a few examples of recent cases I have handled ***: In a 2011 chapter 13 bankruptcy, I reduced the Debtors» second mortgage from $ 51,740.57 to $ 10,000.00 through an adversary proceeding against the lender.

If your parents are in the financial position to help you, you're better off going to the Bank of Mom and Dad, (depending on how's it's structured, it's not considered a second mortgage in many cases).

Commercial Mortgage Survey puts it this way: «Senior credit officers have a bad case of Enronitis; they're second guessing every decision.»

However, the court found that determining whether paying mortgage brokers on a yield - spread premium meet the second SOP criteria — that the premium is «reasonably» related to the total amount of the goods or services furnished — had to be done on a case by case basis.

The second highest number of open cases went to internet banking at 17 percent, followed by mortgage finance cases at 12 percent.

In such a case, clarify to them that applying for a Home Equity Line of Credit (HELOC) as a second mortgage would be a better play.

In this case, you wrap a second deed of trust around the first mortgage.

Its tracking found $ 1.1 billion in active criminal and civil cases of mortgage fraud in the third quarter of the year, compared with $ 1.7 billion in the second quarter.

It won't work, however, if the second spouse is on the mortgage or deed of trust, because in that case the lender will require that spouse to sign the document.