Sentences with phrase «default on a mortgage on»

The owner was Kola Aluko, a Nigerian billionaire who's been charged with money laundering and was in default on a mortgage on the property.

Not exact matches

Abramowicz foresees another sort of ripple effect in the event of a market correction: As homeowners with those short - term private subprime mortgages struggle to figure out how to refinance in a much more constrained market, they may opt to default and cut back on consumer spending.

The lawsuit stems from losses the pension fund suffered after the collapse of the housing market and defaults on formerly AAA - rated securities that were backed by pools of residential mortgages, Calpers said in a statement.

«The only way you can make matters worse,» says Ballentine, «is by keeping the business loan and your home mortgage at the same bank, which might impose a «cross-default» mechanism on you — so that both loans automatically go into default if you run into problems with either one of them.»

Furthermore, banks rarely sold their mortgages to other institutions and never relied heavily on third - party mortgage brokers, thus reducing the chance they'd end up with income-less, asset-less debtors and keeping default rates low.

The chance a new borrower will default on a mortgage has dropped sharply.

If the homeowner defaults on his or her payments and the lender faces a loss following foreclosure, mortgage insurance covers the difference and turns a high - risk customer into a zero - risk customer.

That rate exceeds the default rate on U.S. mortgages at the peak of the housing crisis, the Journal notes.

«After five years, very few people default on their mortgages,» he observes.

Most agree that banks need to have more cash, or capital, available to ensure they do not default on their obligations when the value of their other assets plunge, as happened during the recent mortgage crisis.

The Treasury Department reported that 15 percent of homeowners who received modifications last summer have defaulted again on their mortgages.

Credit default swaps figured prominently in the financial crisis, notably in the near - collapse of American International Group, a giant insurer that sold protection to investors in home mortgages but couldn't pay out on the policies when the housing market crashed.

Not long after she took charge in June 2006, Bair began sounding the alarm about the dangers posed by the explosive growth of subprime mortgages, which she feared would not only ravage neighborhoods when homeowners began to default — as they inevitably did — but also wreak havoc on the banking system.

Mortgage insurance refers to any insurance policy that protects lenders against the risk of a borrower defaulting on a mortgaMortgage insurance refers to any insurance policy that protects lenders against the risk of a borrower defaulting on a mortgagemortgage loan.

Because its purpose is to reduce risk to lenders, mortgage insurance is priced to reflect the relative danger of the borrower defaulting on the loan.

Another is that many people in default will end up redefaulting on a modified mortgage.

Weakening currencies in the post-Soviet states threaten to raise default rates on foreign - currency mortgages as collapse of the Baltic real estate bubble drags down Swedish banks, while the Hungarian property plunge threatens Austrian banks.

The purpose of this insurance is to protect lenders in the event that you default on your mortgage loan.

Measures of negative equity have become a key component in crafting policies to address the foreclosure crisis, as these borrowers are twice as likely to be seriously delinquent or in default on their first - lien mortgage compared with positive equity borrowers.

They bought credit default swaps, which meant that they were betting that people would default on their mortgages.

The SEC complaint goes on: ``... after participating in the portfolio selection, Paulson & Co. effectively shorted the RMBS [Residential Mortgage Backed Securities] portfolio it helped select by entering into credit default swaps (CDS) with Goldman Sachs to buy protection on specific layers of the ABACUS capital structure.

This means you shouldn't default to choosing a PNC mortgage based on convenience alone.

Defaults on these no - money - down mortgages contributed to the Great Recession and left some families facing foreclosure.

For example, a relatively high percentage of first - time borrowers will default on their credit cards, mortgages, and other loans.

Default on your mortgage and every future lender will either deny you credit or charge you much higher rates... and rightly so.

Lenders set their mortgage rates in order to offset the risk of borrower default, and also to make some profit on the loan (it is a business after all).

Also of note about the Colorado mortgage market is that, if you default on your home loan and your lender forecloses on the home and sells it at auction, the lender can sue you for the difference between what you owe and the price the home commands at auction.

Missing, skipping or defaulting on a loan will impair your credit score and prevent a bank from granting a mortgage loan.

Canadian mortgage laws are much more strict than in the United States — mortgages are full recourse, for example, so Canadian homeowners have a lot more on the line in the case of default than Americans.

You, the borrower, pay mortgage insurance premiums, which cover the lender's losses if you default on your mortgage.

This insurance, which is known as private mortgage insurance (PMI) for a conventional loan and a mortgage insurance premium (MIP) for an FHA loan, protects the lender in the event that you default on your loan.

«Investors and originators alike tend to use the 2001 - 2003 mortgage origination vintages to establish underwriting standards and to benchmark base case default expectations on newly originated loans.

They are insured by the Federal Housing Administration, which will fully compensate a lender if a borrower defaults on his FHA mortgage.

After the media saturated homeowners with house crash hysteria, many started defaulting on their mortgages, mortgage security values collapsed, and that triggered bankruptcies.

The govt, thus the rest of us, is bailing out the idiots who are defaulting on their mortgages by taking control of F&F.

After all, AIG was already writing financial reinsurance through default swaps on such mortgages, why not add to a winning bet?

They may also be lumbered with a property that they can not afford to repay, and this will ultimately result in a default on the mortgage loan and the repossession of the property.

For one, states can allow judicial foreclosure, non-judicial foreclosure, or trustee sales when homeowners default on their mortgages.

Homeowners pay mortgage insurance to cover risks to Fannie Mae or Freddie Mac in the event that you default on your loan.

FHA MIP, or mortgage insurance premium, is a type of insurance policy that protects lenders if an FHA loan holder defaults on his or her mortgage.

Private mortgage insurance (PMI) is insurance which covers the mortgage lender in case the borrower defaults on repaying the mortgage.

When a mortgage default occurs, it's because the homeowner has stopped making payments on the home and at least 3 consecutive payments have been missed, which creates a loss for the lender.

For most homeowners, this means that defaulting on a mortgage will lead to foreclosure.

For example, if a borrower defaults on their mortgage, Fannie and Freddie are responsible for the losses on the loans they guarantee to investors, while Ginnie Mae is financially responsible for the bond payments to the holders of Ginnie Mae securities.

When the local economy is weak, more homeowners default on their mortgages.

That's why a bank can foreclose on a homeowner who has defaulted on a mortgage.

The Canada Mortgage and Housing Corporation (CMHC) insures the lender in case you default on your loan.

Private mortgage insurance (PMI) is basically an insurance that the lender uses as protection in the event that you default on your loan.

Ed DeMarco, acting head of the the government entity that overseas Fannie and Freddie, has refused to sign on to such a program, arguing that it would encourage so many folks to intentionally default on their mortgages that it would end up costing taxpayers more than it saves.

Private mortgage insurance (PMI): Insurance against default issued by a private company on conventional mortgage loans.