Sentences with phrase «foreclose your house if»

This is similar to how a bank gives you a mortgage because they retain rights to foreclose your house if you fail to pay; the difference is that the broker can liquidate your account immediately with minimal hassle.

Not exact matches

If the bank, credit union or other mortgage provider is forced to foreclose on the house and loses money on the resulting sale, mortgage insurance covers the difference.

If you do not repay the full amount when due, the lender can foreclose and sell your house at auction.

They compare the property to nearby recent sales of similar houses — square footage, condition, site (nicer views are worth more), quality of construction, and both desirable and undesirable features that affect the property marketability if the lender has to foreclose and sell.

However, it also means that if you stop paying, the bank can foreclose on your house.

Two bidders on a house will have roughly equal chances to qualify for the exact same loan amount if they have the same rating, work history, DTI, and LTV ratios — and one happens to have foreclosed on a property in the past.

If you stop making payments, lenders can repossess your car or foreclose on your house.

If you default on a home equity loan or a home equity line of credit, the lender can foreclose on your house.

If you are living in the house and taking care of the place without making mortgage payments, the lender will be more likely to foreclose and take ownership.

But if you are responsible for paying the remaining balance, then the amount you realize is equal to the fair market value of the house when it's foreclosed on.

If your rental house is foreclosed on, the IRS views it as a sale.

The value of YOUR house will decline if a few homes in your neighborhood are foreclosed and if numerous distressed borrowers will sell at any price.

If you're shopping for a foreclosed house that you want to flip, hold your breath until the urge passes.

If you can't make the payments, the lender could foreclose on your house.

However, there is a huge risk — foreclosing on your house — if you can't repay the loan when it comes due.

House payments and vehicle loans often have higher late payment penalties, and the lenders can foreclose on your home or repossess your vehicle if you default, as compared to a potential lawsuit by a medical creditor.

If you can't keep up with the payments, you could have your house foreclosed on.

Of course, your bank can foreclose your house for mortgage nonpayment, and your car can be repossessed if you miss car loan payments, as these are not covered by Chapter 7.

If they knew that they could not foreclose and get a house free and clear, they may put more effort into arranging modifications that homeowners can afford.»

For example, if you have two mortgages on your house, and the first lender forecloses, the second lender will have to pay off the first lender or lose its security.

If you fall behind on your mortgage, your lender forecloses pursuant to your agreement and becomes the new owner of your house.

Mortgage Insurance; A policy that protects the lender by paying the costs of foreclosing on a house if the borrower stops paying the loan.

If you're behind on your mortgage or car loan, you're not going to be able to settle because a car can be repossessed and a house can be foreclosed on.

If a borrower defaults on a mortgage worth less than the house then the bank can foreclose and be made whole.

Remember that mortgage / lien you gave the bank, well if you don't pay the loan, the bank will foreclose and recover the house.

They may be using the reverse mortgage with no intention of paying down what is owed, but the loan will have to be repaid when the owner moves, dies or if the house is foreclosed on, she says.

I am not sure if this question have been asked before but Can a co-signer be removed from a house that have already been foreclosed on?

Your house will not be foreclosed if you don't assume the debt.

In other words, if he or she stops making the mortgage payments, the mortage lender will eventually foreclose and take possession of the house.

The house has been on the market for 326 days and I am afraid that if it forecloses we will lose it.

If a consumer is on the urge of having their house foreclosed on, and a chapter 13 bankruptcy may save their home, then bankruptcy may be the best option for that person.

Housing Reporter presents 10 Tips To Consider When Buying A Foreclosure posted at The Central Florida Real Estate Site, saying, «If you're shopping for a foreclosed house that you want to flip, hold your breath until the urge passes.

If you are being sued by a collector, your wages are being garnished, or your house is being foreclosed, the quickest way you can end all these actions and experience immediate relief is through the automatic stay.

For example, when you borrow to buy a house, the bank will use the house itself as collateral and if you aren't able to make your mortgage payments, the bank can foreclose on the home.

That the regs say if there's a BK, you only need to wait two years, even if the house hasn't been foreclosed.

(Remember that if the house was foreclosed and you were the owner, the following does not apply).

Even though the Trust's mission is to facilitate the transfer of foreclosed and abandoned residential properties to local housing groups, Nickerson recognizes that «a neighborhood won't be stabilized if you have to walk by vacant retail space or a deteriorating apartment building to get there.»

So while there is nothing stopping you from deeding the house to your daughter, if your lender finds out, it can sue you and your daughter to foreclose the home.

If you sold the house to the tenant and financed the purchase you may have to foreclose in order to remove the buyer.

If you default, the son would foreclose and either receive the mortgage's cash balance at the foreclosure auction or, if there are no bidders, get the house back to sell for a second profiIf you default, the son would foreclose and either receive the mortgage's cash balance at the foreclosure auction or, if there are no bidders, get the house back to sell for a second profiif there are no bidders, get the house back to sell for a second profit.

If not, its likely the house will be foreclosed on and you'll lose this amazing property that has been in your family.

Plus, as far as I know, if you are foreclosed on / file bankruptcy, assuming you get your financial house in order, you should be able to get another mortgage after a period of time.

If you take the Florida housing market as a whole, you'll see that the state is recovering from the recession that led to many foreclosed homes.