Sentences with phrase «court against the borrower»

If there is a short fall to pay the petitioner in full the petitioner can seek a deficiency judgment form the court against the borrower.

A deficiency judgment is a judgment obtained by the lender in court against the borrower for the difference between the unpaid balance of the secured debt and the amount produced by sale or the fair market value of the security, whichever is greater, in a judicial foreclosure.

Not exact matches

For example, a government - backed loan in default can subject the borrower to an administrative wage garnishment (that is, a garnishment without the creditor first obtaining a court judgment) of 15 % of disposable income, and this would be in addition to any state law garnishment by another creditor (under New York law, of several creditors have judgments against a debtor, only one at a time can garnish 10 % of wages, but a government student loan can be imposed on top of a state law garnishment.A borrower can also lose tax refunds if in default on a government student loan.

National Consumer Law Center v. U.S. Department of Education, April 19, 2018, Complaint and Press Release The National Consumer Law Center filed a lawsuit in the U.S. District Court for Massachusetts against the U.S. Department of Education for records related to its purported justification for delaying implementation of a rule to protect student loan borrowers from school fraud and abuse, including records of communications between agency officials and representatives of the for - profit college industry.

Four borrowers and the American Bar Association have filed a suit in United States District Court in Washington against the department.

The complaints are echoed by borrowers across the country, according to a review of federal and state court lawsuits against reverse mortgage lenders.

When repeated court judgments are placed against the borrower for wage garnishment, the employer could potentially fire the employee because of concern that the lack of credit could translate into an issue of character.

The statute of limitations barred federal RICO and Massachusetts Consumer Protection Act (CPA) claims that two mortgage borrowers had brought against their lender and other companies that were associated with their mortgage loan, the federal district court in Boston has ruled.

However, the bank is entitled to take legal action against the borrower before any other competent court.

The trial court nevertheless entered judgment in favor of the servicer and against the borrower because she could not prove actual damages, as required by 12 U.S.C. s2605 (f)(1)(A).

In addition to his real estate practice, he also has significant experience representing lenders in contractual claims against borrowers and guarantors in courts throughout Michigan, as well as representing judgment creditors in post-judgment collection actions.

In Smith v. First Family Financial Services, the Supreme Court of Alabama addressed allegations by borrowers against a mortgage lender and correspondent lender alleging fraud, breach of fiduciary duty, and conspiracy.