Sentences with phrase «default under the loan»

Borrowers may continue to defer repayment for the life of the loan, and the loan only becomes due and payable if the borrower moves away, passes away, sells the home or defaults under loan terms.

Not exact matches

These types of loans also carry other risks, such as demand provisions under which a bank can arbitrarily demand repayment, as well as high default rates, putting borrowers in a difficult spot.

Under the terms of the loan, his death represented a default.

According to the complaint, Navient told credit raters that disabled borrowers, including injured veterans, had defaulted on loans when they were entitled to discharges under federal law.

Loans that have been in default can be consolidated after three consecutive monthly payments have been made or if the borrower agrees to repay the consolidation loans under an income - driven repayment plan (where the payments are based on the income of the borroLoans that have been in default can be consolidated after three consecutive monthly payments have been made or if the borrower agrees to repay the consolidation loans under an income - driven repayment plan (where the payments are based on the income of the borroloans under an income - driven repayment plan (where the payments are based on the income of the borrower).

If the amount available under the Asset - Based Revolving Credit Facility is less than the greater of (i) 12.5 % of the lesser of (A) the aggregate revolving commitments and (B) the borrowing base and (ii) $ 60 million, NMG will be required to repay outstanding loans and, if an event of default has occurred, cash collateralize letters of credit.

If the amount available under the Asset - Based Revolving Credit Facility is less than the greater of 1) 12.5 % of the lesser of (a) the aggregate revolving commitments and (b) the borrowing base and 2) $ 60 million, we will be required to repay outstanding loans and, if an event of default has occurred, cash collateralize letters of credit.

And while federal loans come with their own set of challenges and risks, all 1.37 million private loan borrowers are often subject to fewer protections and less flexible repayment plans than those offered under federal loan agreements.Less accommodating repayment options and more rigid terms can quickly lead to private student loan defaults, which is a dangerous financial place to be.

If a loan is in default, the borrower can only consolidate the loan under two conditions: the borrower must agree to repay the loan under an income - driven repayment plan, or make payment arrangements with the current loan servicer.

You may reconsolidate a defaulted FFEL Consolidation Loan without including any additional loans in the consolidation, but only if you agree to repay the new Direct Consolidation Loan under an income - driven repayment plan.

Defaulted loans are not eligible for repayment under any of the income - driven repayment plans.

Under Illinois law, defaulting on student loan debt could jeopardize one's occupational license.

Without any response or acceptance into an IDR plan, they end up defaulting on their loans because they can not afford payments under the Standard Repayment Plan.

Many students default under the impression that the government will eventually discharge all student loans.

According to Prosper's data, just under 40 % of loans released in 2006 and 2007 defaulted.

This makes sense, since often times, high net worth individuals seek the safety and yield of munis, and the market infers a slight spread above Treasuries since a municipality is more likely to default on a loan than the US government, which can always just print more money under the US Fiat currency model.

Under the PAYE plan, interest is only capitalized if you leave the PAYE plan (either by switching plans, failing to renew the plan, defaulting on your loans, or going into a deferment or forbearance).

The company, whose best - known subsidiary is The University of Phoenix, has come under government scrutiny on grounds that it recruits under - qualified students who later default at a high rate on their government - subsidized loans.

Oct. 24: In a letter to Mei, Garry says the town's obligations under a proposed amendment to SRB's concession agreement «are irrevocable,» and that the town agrees it will repay a $ 7.8 million loan within 30 days if SRB defaults.

David Cameron had come under pressure in Europe to assist with Greece's next 12 billion euro bailout, in a bid to prevent the country defaulting on its loan payments.

One can imagine that in this state of the world policymakers would soon come under pressure to «do something» about elevated default rates caused by borrowers who can repay their loans.

Roughly ten percent of student borrowers default on their loans within two years of graduating, despite often being eligible for more favorable repayment terms under a variety of alternative repayment options such as income - driven repayment.

Under a loan guarantee, the DOT commits to pay to the guaranteed lender, upon the occurrence of a payment default by the borrower, the full amount of the defaulted payment, as specified in the loan guarantee agreement.

The TIFIA JPO was informed by Louisiana Transportation Authority that (i) the Project would not be able to meet the coverage ratios required under the Master Trust Indenture with respect to the senior lien bonds and the 2005 TIFIA Loan, and (ii) unless a restructure occurs, the Borrower will likely default on the senior bonds by 2018, and will default on the 2005 TIFIA Loan on December 1, 2013.

If a loan is in default, the borrower can only consolidate the loan under two conditions: the borrower must agree to repay the loan under an income - driven repayment plan, or make payment arrangements with the current loan servicer.

In Wisconsin, the lender can not repossess without a default in payments if the loan falls under the Wisconsin Consumer Act.

If the defaulted student loan is already under wage garnishment, rehabilitation program will lead to double payments.

If you've already got a mortgage and you're having trouble keeping up with payments, the FTC outlines various repayment strategies you can pursue, including applying for a loan modification under the Making Home Affordable Modification Program, as well as other alternatives to default and foreclosure, such as reinstatement and repayment plans.

Under the changed rules, loans that are not underwritten in accordance with FHA loan guidelines will not be insured by them — in other words, the lender that approves and funds the loan will have to eat its own losses in the event of a default.

Unless the loan amount is under $ 500 or the college has a low default rate, the disbursement will be made in at least two equal installments.

If you have defaulted, the government allows a collection agency to accept a lump - sum payment under three conditions: A) You pay the balance of the loan and interest, but not the collection agency charge; B) You pay the principal plus half the unpaid interest; or C) You pay 90 % of the remaining principal and interest.

A borrower enters default status under the federal student loan programs when such borrower's loan is more than 270 days delinquent.

Although FHA doesn't directly lend money for mortgage loans, it guarantees its approved lenders against losses stemming from defaults on mortgages approved under FHA guidelines; its lending programs assist first time, credit challenged, and moderate income buyers.

Under certain circumstances, loan repayment can be adjourned but not permitted to go into default.

High rates of default on FHA loans, as was seen among the Citibank loans, have been a drain on the agency's insurance reserves, which exist to compensate lenders who suffer defaults under the program.

Although missing a single payment is technically a default under the terms of most loan documents, lenders have neither the time nor the desire to foreclose on borrowers who have missed one payment.

Any type of student loan, regardless if federal or private, can result in garnishing your wages when under default of payments.

The fact that defaults have fallen on FHA home loans in California is a great sign in support of data suggesting the recovery is under way.

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.

The U.S. government sponsors these loans and will pay these loans back to the mortgage institution if the borrower defaults under certain conditions.

According to this data, less than a tenth of Georgian graduates are defaulting on student loan balances that are just under the national average.

In 2015, 29 % of loans by borrowers age 50 to 64 were in default, compared with just 17 % for those under 50.

If you are in default for a loan but wish to consolidate it, you must first make a repayment arrangement with your current loan provider, or agree to repay the new consolidated loan under one of the government's income - driven repayment programs (PAYE, REPAYE, IBR).

You may reconsolidate a defaulted FFEL Consolidation Loan without including any additional loans in the consolidation, but only if you agree to repay the new Direct Consolidation Loan under an income - driven repayment plan.

Proving undue hardship was my way out from under my debt to the Department of Education (DOE), where all of my loans had been consolidated and had fallen into default and my small incomes from Social Security and a even smaller civil service retirement that were both being garnished to the tune of nearly $ 300.00 a month.

After all, the default rate sits at 11.5 percent which accounts for anywhere from 4 to 5 million student loan borrowers.This situation has led many to research what they can do to get out from under their debt.

Whether you're buried under unpaid medical bills, burdened by credit card balances, or bothered by loan default,... read more»

Instead of waiting for ten months before you can get your loan out of default under student loan rehabilitation, student loan consolidation can help you achieve this within thirty to sixty days.

If you want to consolidate a defaulted loan, you must either make satisfactory repayment arrangements on the loan with your current loan servicer before you consolidate, or you must agree to repay your new Direct Consolidation Loan under loan, you must either make satisfactory repayment arrangements on the loan with your current loan servicer before you consolidate, or you must agree to repay your new Direct Consolidation Loan under loan with your current loan servicer before you consolidate, or you must agree to repay your new Direct Consolidation Loan under loan servicer before you consolidate, or you must agree to repay your new Direct Consolidation Loan under Loan under the:

Once nine full payments are made in the 10 - month period, your loan will no longer be under default status.