Sentences with phrase «consider defaulting on their mortgage»

Not exact matches

If you don't pay the money back, your lender might consider you in default on your mortgage and foreclose.

Comments Off on In Florida, Homeowners Deciding Between Short Sale vs Foreclosure and When to Buy a Home Again — Things to Consider Tags: Bank of America Foreclosures, Deficiency Judgments, Florida Real Estate Foreclosures, Foreclosure defense attorney, foreclosure defenses, Foreclosure Settlement, Mortgage foreclosure, Short Sale Counseling, Short Sales, strategic default, Underwater Mortgage

Considering that the likelihood of default is at least 10 times higher on the first mortgage, this is insane.

@Ned Carey - while I agree in part that it doesn't make sense that they foreclose on a performing note, technically, it is likely not «performing» because of the deed transfer, it is likely, in fact, to be considered in default because the original borrower @Serge S. didn't live up to the obligations in the original contract, which is exactly what the note and mortgage are.

«One very significant improvement is that people who need to sell their home due to a distant employment transfer, a death or divorce in the family, or the onset of disability will no longer have to default on their mortgage simply to get considered for a short sale.»

Proposed comment 37 (c)(1)(i)(C)-1 would have stated that «mortgage insurance» means insurance against the nonpayment of, or default on, an individual mortgage, and that, for purposes of proposed § 1026.37 (c), «mortgage insurance or any functional equivalent» would have included any mortgage guarantee that provides coverage similar to mortgage insurance (such as a United States Department of Veterans Affairs or United States Department of Agriculture guarantee), even if not technically considered insurance under State or other applicable law.