Sentences with phrase «hook if the loans default»

Rita Parise, director of programs for the Ohio Housing Finance Agency, says taxpayers won't be on the hook if the loans default.

Not exact matches

A lending officer who approved two of restaurateur Harendra Singh's Town of Oyster Bay - guaranteed loans testified Tuesday that Singh wouldn't have qualified without the town's willingness to «be on the hook» if he defaulted.

While the VA guaranty inspires confidence, lenders are still on the hook for 75 percent of that loan if the borrower defaults.

If you default on a loan with a cosigner, your cosigner will be on the hook for paying off the loan — and it will likely damage their credit.

But VA lenders can and do enact their own, stricter requirements beyond what the VA mandates, which makes sense considering lenders are on the hook for 75 percent of the loan if the borrower defaults.

If, however, the borrower you vouch for defaults you could be on the hook for the entirety of that loan.