Sentences with phrase «if loan balance»

If the loan balance will increase only because escrow items are being paid through the loan balance, the loan originator is not required to check the box indicating that the loan balance can rise.

For example, if the loan balance grows to $ 300,000 and your home value increases moderately over time to $ 220,000, the client (and potentially the estate) is not liable for any amount owed above the property value upon sale or death.

In addition, provided the home is sold to repay the loan, your heirs will not be personally liable if the loan balance exceeds the value of the home.

False: You or your heirs will not be required to repay more than the value of your home at the time of sale to repay the loan even if your loan balance exceeds the sales proceeds.

Due to the federal insurance protection offered by the FHA, you do not have to pay more than the value of the home when it is sold, even if your loan balance surpasses your home's value.

In fact, if the loan balance is less than the value of the home, then heirs inherit the remaining equity after the loan is paid off from the home's proceeds.

A HECM reverse mortgage ensures that borrowers are only responsible for the amount their home sells for, even if the loan balance surpasses this amount.

If the loan balance is larger than the home's sale price, borrowers who have the federally - insured version of a reverse mortgage, also known as a Home Equity Conversion Mortgage (HECM), are offered additional protections.

They are typically recourse loans, meaning you are personally liable for the loan, and you are not protected if the loan balance is higher than your home value.

As a non-recourse loan, lenders can only look to the value of the home for repayment; no other assets may be attached if the loan balance grows beyond the mortgaged home value.

You or your heirs will not be required to pay more than the value of your home at the time the loan is repaid; even if your loan balance exceeds the value of your home provided you or your heirs decide to sell the home.

With a tenure payment plan it doesn't matter if the loan balance exceeds the value of your home, you will still receive the same monthly payment.

If the loan balance increases the amount of the cash value, your policy could lapse and risk termination by the insurance company.

If your loan balance exceeds the policy's cash value, your policy could lapse; but insurers give you plenty of chances to pay more money to keep the policy in force.

In addition, if the loan balance and accrued interest exceed the cash value of the policy, it will be terminated.

However, if your loan balance is high enough, you can make graduated payments as part of an extended repayment plan.

Lenders can attach your assets and sue your estate if your loan balance remains unpaid and your family is unable to keep up with payments.

If the loan balance (including accrued interest) had grown beyond $ 10m, then it would have become a non-exempt connected transaction.

They are typically recourse loans, meaning you are personally liable for the loan, and you are not protected if the loan balance is higher than your home value.

This means that borrowers will never owe more than the value of the home, even if the loan balance ultimately exceeds the appraised value of the home.

This is if the loan balance is less than the amount of home equity.

With a tenure payment plan it doesn't matter if the loan balance exceeds the value of your home, you will still receive the same monthly payment.

If the loan balance grows and exceeds the home's present market value, the lender can not take title.

If the loan balance exceeds the value of the home, FHA reimburses the lender for the difference when the estate sells the home.

You or your heirs will not be required to pay more than the value of your home at the time the loan is repaid; even if your loan balance exceeds the value of your home provided you or your heirs decide to sell the home.

Eventually, either after a specified period of time or if the loan balance grows too big because the borrower is making minimum payments that don't cover all the interest due, the payment options end and the loan is recast, meaning that payments are adjusted to include principal and interest.

If the loan balance is more than the value of the home, FHA insurance covers the remainder.

If your loan balance increases on this program, your forgiveness amount increases along with the taxes you'll owe for that forgiveness.

This is true even if the loan balance eventually grows to exceed the value of the home.

Unlike regular «forward mortgages,» a reverse mortgage is essentially a huge negatively - amortizing loan — the loan balance increases because borrowers are not making monthly payments — it follows that if the loan balance increases and the value of the property declines then the FHA can be stuck with big insurance claims.

If the loan balance is less than the market value of the home when sold, you or your heirs keep the additional equity in the home.

Due to the federal insurance protection offered by the FHA, you do not have to pay more than the value of the home when it is sold, even if your loan balance surpasses your home's value.

If the loan balances on your high - interest debts are within your reach to pay, this can be a good strategy.

If the loan balances are $ 10,000, $ 7,000, $ 5,000 and $, 3,000 then a consolidation loan of $ 25,000 can wipe them out.

Not exact matches

If their companies weren't hamstrung by big loan balances during the downturn, owners saw plenty of other businesses falter when revenue fell and monthly payments became unmanageable.

But your social - media footprint can tip the balance for or against a loan if your business is on the margins of acceptable.

If there are multiple loans with the same interest rate, please apply the additional amount to the loan with the lowest outstanding principal balance.

If you racked up debt in college — whether student loans, personal loans or credit card balances — pay off those debts before trying to keep up with the Joneses.

Monthly payments are more manageable: All income - driven repayment plans for federal student loans can lower your monthly payments if you have low income compared to your student loan balance.

with what savings we have left but who knows if I'll qualify (even though I've got good credit)... but then I've got more loans out which just makes my credit / loan balances look bad when they run a credit check on me for the space.

If you're looking to consolidate debt, it's best to shop around and consider a variety of options, which include personal loans, balance transfer credit cards, and credit card hardship programs.

So if you just started making student loan payments, you could be paying hundreds of dollars a month only to see your balance decrease by a fraction of that amount.

If you're considering a larger mortgage, the company originates jumbo loans that accommodate mortgage balances exceeding the conforming loan limit set for conventional home loans.

In this case, if you have a $ 10,000 personal loan with a four percent origination fee, your final balance with the fee added in is $ 10,400.

Interest that accumulates is based on the loan's unpaid principal balance and accrues on a student loan every single day, even if the account is not in repayment.

You are a first - time borrower for interest subsidy purposes if you had no outstanding balance on a Direct or FFEL Program loan on July 1, 2013, or on the date you obtained a Direct Loan after July 1, 2loan on July 1, 2013, or on the date you obtained a Direct Loan after July 1, 2Loan after July 1, 2013.

If you already have a hefty student loan balance or other debts, such as credit cards or a car payment, your ratio of income - to - debt might exceed lender limits.

However, if you do have an excellent credit score, you may want to consider a 0 % balance transfer credit card instead of a personal loan, as you can save money on interest.

If you stayed on the standard 10 - year plan, you wouldn't have any remaining balance left on your loans to forgive.

If they do require insurance, your lender has the option to advance these payments to protect their collateral, and may add these costs onto your loan balance with interest.