Sentences with phrase «default against the property»

When a homeowner is late on three payments, the bank will record a notice of default against the property.

The lender will record a notice of default against the property.

When a homeowner falls behind on three payments, the bank will record a notice of default against the property.

Not exact matches

Crucially, UK banks prefer lending against existing assets — In particular property or land — which they can repossess in case of default.

But instead of suing the real estate company that owns the property (which defaulted on its $ 35 million mortgage last year), the group is filing against the bank that owns the building's mortgage.

In terms of the hazards of borrowing against property (i.e. you could lose your home or property if you default), our loan to value (including the 1st mortgage) would be less than 30 %, even if the HELOC were fully drawn, so I believe weâ $ ™ re being prudent.

The bank typically wants the mortgage debtor to have a significant interest in the house; that's a deterrent to default (the homeowner loses bookoo bux in equity) as well as a hedge against it (yes, the bank can repo the property, sell it, and get their money back).

It also protects lenders against loan default on mortgages for properties that include manufactured homes, single - family and multifamily properties, and some health - related facilities.

If a property is sold as the result of a mortgage default, but the sale does not generate enough money to pay the outstanding balance and all associated costs, fees and interest, the insurer will pay the shortfall to the bank and will then have the right to enforce against each borrower personally for the deficiency.

FHA mortgage insurance also encourages lenders to make loans to otherwise credit worthy projects and borrowers that might not be able to meet underwriting requirements that are conventional, protecting the lender against loan default on mortgages for properties that meet certain minimum requirements — including single - family, manufactured homes, and multifamily properties, and some health - related facilities.

FHA mortgage insurance also encourages lenders to make loans to otherwise credit worthy projects and borrowers that might not be able to meet underwriting requirements that are conventional, protecting the lender against loan default on mortgages for properties that meet certain minimum requirements — including single - family, manufactured homes, some health - related facilities, and multifamily properties.

CMHC got a judgment of $ 33,000 plus interest totalling approximately $ 51,000 against me because the value of my property went down and I defaulted!

Tax lien: The IRS or a local taxing authority may file a claim against a defaulting tax debtor's property or assets for overdue or delinquent federal income or real estate taxes.

The lender runs lower risks when lending against collateral because in the event of default the property securing the loan can be repossessed or subject to foreclosure.

Represented successful vendor in claim for damages against defaulting purchasers of real commercial property.

The Wells Fargo loan to RiverBay Corporation, which controls Co-op City, is the largest ever insured under HUD's 223 (f) program, which protects lenders against loss on mortgage defaults at multifamily rental properties.

High - ratio Mortgage - A mortgage that exceeds 75 percent of the loan - to - value ratio; must be insured by either the Canada Mortgage and Housing Corporation (CMHC) or a private insurer to protect the lender against default by the borrower who has less equity invested in the property.

Mortgage Insurer - In Canada, high - ratio mortgages (those representing greater than 75 % of the property value) must be insured against default by either CMHC or private insurers.

The second - priority claim against a property in the event that the borrower defaults on the loan.

Since the property itself is used as the only protection against default by the borrower, hard money loans have lower loan - to - value (LTV) ratios than traditional loans.

If the purchase money loan for any type of real property is financed by the seller and secured by that same property, the lender / seller may not obtain a deficiency judgment against the defaulting borrower / buyer..

Foreclosure A legal procedure in which the mortgage loan is in default and the property taken from the borrower and sold by the lender to pay off the loan against the property.

When the loan went into default, the plaintiffs, as mortgagees, issued a Power of Sale against property B.