Sentences with phrase «event of a foreclosure»

With this type of insurance, your home loan is automatically paid off in the unfortunate event of foreclosure.

«Recourse» is the ability of the lender to recover money owed by the borrower in the event of foreclosure.

For borrowers who don't put 20 % down — which is not a requirement — and are viewed by lenders as higher credit risk, mortgage insurers reduce or eliminate losses by providing protection to the lender in the event of a foreclosure.

However, one advantage is that your other assets are protected in the event of a foreclosure, and only your home may be used to pay for the debt.

If a jombo loans means buying a home which is expensive relative to the neighborhood that property can be tough to sell in the event of a foreclosure — and that makes mortgage investors very uncomfortable.

The insurer will guarantee the lender against loss in the event of a foreclosure.

In the event of a foreclosure, they are generally past due taxes and a lapsed insurance policy, which add to the cost out of pocket for that lender when they foreclose.

Mortgage insurance premiums (MIP) are used to protect lenders against loss in the event of a foreclosure.

In the event of a foreclosure, the first mortgage must be satisfied before any payment can go to the second.

Partial claim means the mortgage servicer can collect part of what would be paid in the event of a foreclosure but it won't actually foreclose on you.

«Recourse» is the ability of the lender to recover money owed by the borrower in the event of foreclosure.

Lenders are willing to give better rates even with tighter credit norms since they are assured that the loan will be paid off by HUD in the event of a foreclosure.

It is paid by the borrower and insures the lender against certain losses in the event of a foreclosure, and is considered a «pre-paid» cost.

PMI covers their risk in the event of a foreclosure on your home.

Evidence that (a) the bankruptcy was discharged 12 or more months ago, (b) the date of closing on a short sale was 12 or more months ago and finally (c) that 12 months have lapsed since the date of title transfer to the foreclosing lender in the event of a foreclosure

They're often called second liens because in the event of foreclosure, they only get paid off after the primary mortgage has been satisfied - they're second in line in other words.

Selling an undivided half interest in property is a nightmare: nobody outside the family will buy a half - interest that's shared with C, so in the event of a foreclosure, the bank won't be able to sell their foreclosed half interest.

In the event of foreclosure or short sale, the borrower will not be held liable for any deficit balance.

Real estate requires to be evaluated previous to its sales, when refinancing, receiving insurance or home equity loan and in an event of the foreclosure or ruin.

So, lawyers have devised a few ways to protect the tenant in the event of a foreclosure.

In the event of foreclosure, this clause gives the lender the ability to get rid of tenants that are paying below - market rent or are otherwise «undesirable».

Savvy short sale sellers don't rely just on Realtors to get these negotiations finalized: many lenders aren't too willing to ante up any cash to pay these kinds of liens off in order to get the short sale done — even if they'll have to face these clouds on title in the event of a foreclosure.

Buying notes allows an investor to earn interest on the loan and gives control of the property to the investor in the event of foreclosure.

Some banks, although rare, may insist on title insurance of up to 125 % of the loan amount, just to cover some of its expenses in the event a title issue arises or in the event of a foreclosure.

However, one advantage is that your other assets are protected in the event of a foreclosure, and only your home may be used to pay for the debt.

I know (or believe) that there are laws in place to protect a tenant's lease in the event of foreclosure.

A tenant is rarely in a position simply to refuse to subordinate its lease to one or more mortgages; however, the savvy tenant can reduce the risk of an unpleasant surprise in the event of foreclosure.

However, the tenant that agrees to subordinate its leasehold interest without reviewing the lease language carefully — with an eye toward both the applicable law and the options available to it — may find its lease terminated in the event of a foreclosure without any fault on the tenant's part.

You can also record your lease on public record which would likely put you in a chain of notifications if the seller ever tried to sell or in the event of a foreclosure.

If you are worried about losing possession or being forced to move out of your home in the event of foreclosure, you might prefer a state that uses mortgages instead of a trust deed.