Sentences with phrase «in second lien»

A: Your lender is in a first lien position and the Federal Housing Administration is in a second lien position.

Sample APR assumes a new $ 100,000 HELOC in second lien position with a combined loan - to - value (CLTV) ratio of up to 70 % on a 1 - to 4 - unit owner - occupied primary residence and a borrower with excellent credit.

Your APR will be between 4.99 % and 8.84 % for a loan in first lien position and between 4.99 % and 11.49 % for a loan in second lien position.

The investor obtains a gap loan, in a second lien position behind the bridge loan, and uses the funds from the gap loan to repair the property.

«Second mortgages are in second lien position, meaning they get paid after the first mortgage.

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.

Not exact matches

We invest in countries around the world at all levels of the capital structure — from debt (first lien bank debt, second lien loans and high yield bonds) to undervalued equity.

In addition to senior debt, we offer second lien loans as a subordinated financing solution to increase your leverage.

It can sometimes be sensible, then, to shift a portion of the balance from your first lien to your new second mortgage to exploit this quirk in pricing.

In general, interest rates on a second mortgage will several percentage points higher than for a comparable - sized first mortgage; and second liens can be fixed - rate or adjustable - rate mortgages (ARM).

iPayment Holdings, Inc. and iPayment, Inc. in the exchange of $ 509 million of iPayment Holdings» 15.00 % / 15.00 % senior notes due 2018 and iPayment Inc.'s 10.25 % senior notes due 2018 for a combination of $ 296 million 9.5 % second lien notes due 2019 and iPayment common stock and warrants.

Catalyst # 2: De-risking: Continual reduction in structured finance exposures, declining claim payments on second - lien RMBS Catalyst # 3: Reimbursement for claims paid: Fairholme expects MBIA to recover at least half of the gross claims paid to date in a 2012 settlement or all in a 2013 trial.

With this plan, we aim to help homeowners avoid foreclosure by reducing or eliminating the principal balance of those in need of relief from a second mortgage lien they can no longer afford.

IN: DFI First Lien Mortgage Lending License 21573; DFI Subordinate Lien Mortgage Lending License 21574 MI: First Mortgage Broker / Lender License FL0017723; Second Mortgage Broker / Lender Registrant License SR0017724.

1) The Piggy - Back (a.k.a.: Concurrent Lien, First and Second Combo) Borrowers purchasing a home, are able to use a «piggy - back» their first mortgage in with a second mortgage to give them additional flexibility in the formation of their repaymentSecond Combo) Borrowers purchasing a home, are able to use a «piggy - back» their first mortgage in with a second mortgage to give them additional flexibility in the formation of their repaymentsecond mortgage to give them additional flexibility in the formation of their repayment plan.

Unlike the Closed - End Second lien, the HELOC is a bit more flexible in its repayment.

The same case applies to the third mortgage holder if any, who must, in turn, wait for the first and second mortgage holders to be paid before they can claim a lien.

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.

A second mortgage is a mortgage lien on your home in addition to your primary mortgage lien (i.e. your first mortgage).

In general, interest rates on a second mortgage will several percentage points higher than for a comparable - sized first mortgage; and second liens can be fixed - rate or adjustable - rate mortgages (ARM).

Benefits of Cash - Out Refinances include possibly lower rates and simpler terms since the cash out is provided on the loan in the first lien position on the home, and a second mortgage is not applicable.

Mortgage lender (second lien and beyond)-- provides some money for the purchase, but in foreclosure gets paid after the first lien lender.

In the event of a short sale or foreclosure, the first position lien gets paid off first, and then the subordinate (second / third / fourth / etc) position one.

Add in the articles about unused HELOC capacity getting terminated (happened to two friends of mine recently), and you can see how second - lien lending is shrinking at just the point that many would want it.

E.D.N.Y: No Requirement That Debtor be Eligible for a Discharge in Order to Strip a Second Mortgage Lien

The down payment is in the form of a gift that you are not required to pay back and there will not be second liens or deed restrictions against your property.

We also do Deed's in Lieu, Short Sales, Second Mortgage Lien Stripping, and other various real estate needs.

According to Nationwide originators, bad credit second mortgage and refinance loans are in demand more than ever for borrowers with credit problems who seek money with a lower interest rate that is available by redoing your existing lien.

A cash out refinance loan may have a lien that is similar to a second mortgage and may need to be paid out in a certain order of value.

A second lien is held on your property in the amount of the advance.

Bankruptcy is another alternative, as judges are allowed to include second mortgage liens in bankruptcies now.

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.

Chapter 13 lien strip is only allowed in the following situation: Your second mortgage is unsecured.

McNeal, after filing for bankruptcy under a Chapter 7, reported that her mortgage was subject to two mortgage liens, $ 176,413 held by the primary lender and a second priority loan in the amount of $ 44,444.

As the housing prices continue to rise in San Francisco Bay Area, it will certainly become harder to lien strip since more second mortgages will be secured.

As with the example above, mortgage lenders, mortgage insurance companies, second lien holders, and in the case of short sales, the new buyers have to agree to the terms of the loss mitigation program.

When the home is sold or foreclosure upon (in the case of a default), the first mortgage lien holder is paid first and the second mortgage lien holder is paid later.

Whether banks can and will pursue deficiency judgments depends on many factors, including what state the borrower lives in and whether there's a second mortgage or other liens.

If you don't want a lien placed on your business, we would encourage you to consider our second - place winner in this category, SnapCap.

PS — I had one bond that was a high interest second - lien loan on one of the most valuable buildings in Baltimore.

If Countrywide is in a second position, ask that the first lien holder to get their attorney involved, this will speed up the process.

In these favorable states, your primary home (NOT a second home or investment property) is protection from creditor liens and a forced sale in a certain amount ranging up to 100 % of its equity from all creditors except for, of course, your home mortgage provideIn these favorable states, your primary home (NOT a second home or investment property) is protection from creditor liens and a forced sale in a certain amount ranging up to 100 % of its equity from all creditors except for, of course, your home mortgage providein a certain amount ranging up to 100 % of its equity from all creditors except for, of course, your home mortgage provider.

The home equity line of credit must be in first or second lien position.

Recall that the first lien in a piggyback loan is often a fixed - rate mortgage, for up to 80 % of the home's purchase price; and, that the second lien is often a home equity line of credit (HELOC).

Here is what should be accomplished in a short sale: Borrower is released from all liens on property in the sale, some payoff may have to be made to first of second lien holder.

Plus, there is a little known provision in chapter 13 that could potentially remove any junior liens that are on your house (e.g., second mortgage, etc.).

The Second Lien Modification Program, in conjunction with HAMP, enables borrowers to lower the payments on the home equity line of credit.

In order to take advantage of the government's Second Lien Modification Program, you had to have modified your first mortgage under the Home Affordable Mortgage Program or HAMP.

In addition, most lenders won't refinance a home if the total liens (first and second mortgages) exceed the value of the home — this program allows that.

NO, you can not combine a 1st and 2nd mortgage together in a HARP refinance, but they will allow you to subordinate your current second lien and refinance your underwater 1st mortgage.