Sentences with phrase «first lien against»

«The bank partners with you,» Castellanos explains, «but they need to be protected and confident that they have a valid first lien against the property, so they require this insurance.»

Loan secured by a first lien against a single family home.

Not exact matches

But equity loan rates generally are one to two percentage points higher than rates on cash - out refinances because loans are a second lien — rather than a first — against your home.

Our revolving credit facilities provide our lenders with first - priority liens against substantially all of our assets, including our intellectual property, and contain financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition.

If a loans meets the following tests, it is covered under the law: 1) For a first - lien loan otherwise referred to as the original mortgage on the property - the Annual Percentage Rate (APR) exceeds by more than 8 percentage points compared against the rates on Treasury securities of comparable maturity; 2) For a second - lien loan otherwise referred to as a 2nd mortgage - the APR (Annual Percentage Rate) exceeds by more than 10 percentage points compared to the rates in Treasury securities of comparable maturity; or the total points and fees payable by the borrower at or before closing exceed the larger of $ 561 or 8 % of the total loan amount.

In other words, with a Home Equity Loan or HELOC, you will have two mortgages on your property; in all likelihood, it will have a higher interest rate than your first mortgage due to the fact that it will be held in a second lien position against the property.

Lenders will put a lien on your vehicle when you borrow against it, ensuring that they are paid first if the car is sold.

Successfully represented a design and engineering firm in a trial against the project owner and construction lender concerning the validity and priority of its mechanic's lien over encumbrance of mortgager; obtained judgment for full amount and first priority of the lien, plus a substantial award interest and attorney's fees.

«Costs / Section 998: $ 31,955.68 Costs Award, Many Predicated On Successful CCP 998 Offer, Affirmed On Appeal Main Liens For Attorney Fee / Quantum Meruit: Discharged Attorneys In Class Action Not Entitled To Pursue Conversion Or Common Counts Against Successor Attorneys Without First Proving Entitlement To Attorneys Lien Against Client»

In essence, the Solicitor Lien becomes a first charge against the file.

A collateral assignment is a legal document familiar to all lenders and in effect is a lien against the policy which guarantees insurance policy proceeds are first payable to the «assignee», in this case the lender, with the balance of proceeds going to the named beneficiary of the policy.

If you are buying on the secondary market, you have to buy from someone bid against competition to buy the liens in the first place.

You see, since the financing for the HERO program is a tax lien and it is paid with your property taxes, it takes first position over other liens against the property (i.e. mortgage lenders).

For example, if the lender is foreclosing its second mortgage, the first mortgage will still be a valid lien against the property.