Sentences with phrase «incurred by the foreclosure»

For this to occur, the mortgagor must pay off the whole current mortgage balance, plus all fees and penalties incurred by the foreclosure.

Not exact matches

By the time the home is eventually sold in foreclosure, then, it's likely that the lender has incurred a real loss in terms of missed payments; plus, other losses related to the home's condition.

Although FHA borrowers pay premiums for covering FHA mortgage insurance, the FHA has incurred dramatic losses in the past few years, and is attempting to rebuild its reserves by preventing future foreclosures.

By contrast, a foreclosure (also the prevailing law in the U.S.) is undertaken by a lender when the homeowner defaults on their mortgage, but in this case the borrower is not liable for any loss incurred by the lendeBy contrast, a foreclosure (also the prevailing law in the U.S.) is undertaken by a lender when the homeowner defaults on their mortgage, but in this case the borrower is not liable for any loss incurred by the lendeby a lender when the homeowner defaults on their mortgage, but in this case the borrower is not liable for any loss incurred by the lendeby the lender.

FHA guidelines encourage mortgage lenders to work with distressed homeowners to prevent foreclosure, but when mortgage lenders incur losses related to defaulted FHA loans, FHA reimburses lenders from funds generated by payment of FHA mortgage insurance premiums by FHA borrowers.

The Servicemembers Civil Relief Act (SCRA) is intended to help those men and women who have answered their nation's call by providing certain financial protections, including foreclosure protection, to members of the military that have incurred debt prior to their active service.