Sentences with phrase «creditors of your change in circumstance»

Make sure you pay off any existing credit card debt and notify creditors of your change in circumstance.

Not exact matches

This is especially important when considering chapter 11, because under some circumstances chapter 11 can result in the change of ownership in a business or create an opportunity for creditors to take over a business.

In the proposal, the Bureau did not propose retaining this requirement because, under the proposed rule, the creditor would have been required to deliver the Closing Disclosure three business days before consummation, and redisclose with an additional three - business - day waiting period if any of the actual terms changed, except in very limited circumstances described in the section - by - section analysis of § 1026.19 (f)(2In the proposal, the Bureau did not propose retaining this requirement because, under the proposed rule, the creditor would have been required to deliver the Closing Disclosure three business days before consummation, and redisclose with an additional three - business - day waiting period if any of the actual terms changed, except in very limited circumstances described in the section - by - section analysis of § 1026.19 (f)(2in very limited circumstances described in the section - by - section analysis of § 1026.19 (f)(2in the section - by - section analysis of § 1026.19 (f)(2).

Further, the adoption of § 1026.19 (e)(3)(iv) in this final rule, as discussed below, offers a level of flexibility for the creditor to make adjustments to its estimate for transfer taxes similar to the current rule under Regulation X if the amount of transfer taxes increases because of a changed circumstance or borrower - requested change.

In these respects, the final rule reflects current Regulation X, because under current Regulation X, creditors are bound to the terms of the RESPA GFE provided to the consumer by the mortgage broker unless one of the six legitimate reasons for revisions apply (e.g., borrower - requested change, a changed circumstance).

Further, with respect to the argument that RESPA permits a creditor to provide consumers with an estimate of settlement costs, rather than requiring a creditor to disclose the exact amount of a settlement charge early in the loan origination process, the Bureau observes that the final rule incorporates the current tolerance rules» exceptions (i.e., the amount of settlement charges subject to the zero percent tolerance category, as well as the ten percent tolerance category, may change due to events such as changed circumstances and borrower - requested changes).