Sentences with phrase «current lien holder»

Not exact matches

Either way, the maximum amount owed is $ 500,000 and the Lien Holder can not come after the estate for the difference between the accrued balance and the current value of the property.

You also need to provide employer information and income figures regarding your gross monthly income, data from your existing loan, such as the original loan amount, current interest rate, monthly payment and lien holder, plus information on the vehicle itself such as year, make, model and style (i.e. 2004 Honda Accord EX).

If borrowers have gone through a modification where the payment wasn't brought current by the existing lien holder they can be eligible for this program if (1) the modification was made under the terms of the Making Home Affordable Modification Program (HAMP), the loan may close the month following the date the modification was permanent or (2) the modification was a non-HAMP modification, the borrower must have made three monthly payments on time and the modified mortgage must be current for the month due

The existing loan to be refinanced may not have been brought current by the existing first lien holder, except through an acceptable permanent loan modification

The 2nd lien holder will be able to foreclose on the property if they make loan payments to the 1st lien holder on behalf of the borrower in order to keep the 1st loan current.

You'll also need your current registration, the title or the information for your lien holder, and proof of identification and residency.

Also, current HAFA guidelines state that first lien holders will also provide $ 8500 from sale proceeds to junior lien.

• How to speed up your deals and streamline your short sale package for faster approval using the new «pre - determined» hardship categories • Which current HAFA documents are no longer mandatory and how this will affect your current deals • What new anti-fraud affidavit you must provide both the buyer and seller to verify the HUD1 Statement is at arm's length • The condensed approval timeline servicers, which are now required to use, and how this change benefits your business • How your ability to negotiate will change with the new increase in available incentives for subordinate lien holders • Why you might experience a surge in investor business when the «prohibition against resale» is reduced from 90 to 30 days.