Sentences with phrase «incurred by the lender»

In addition to the loan payments due, you are liable for legal fees incurred by the lender.

What many people don't realize is that if your lender allows you to sell your home at a loss, you may be liable for taxes on the losses incurred by the lender.

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 lender.

A bankruptcy (or a consumer proposal) stops or prevents any legal action taken against a homeowner for the shortfall incurred by the lender.

Costs may include broker's fees, advertising costs, moving and / or storage costs and legal and other fees incurred by the lender.

The full expense of a dishonoured cheque or debit transaction incurred by a lender be recoverable, subject to proof of the actual cost incurred and disclosure by the lender to the borrower.

«Loan modifications and short sales help stabilize home values and neighborhoods, and limit the losses incurred by lenders, the federal government and taxpayers, which is good for everyone,» said Veissi.

In cases where the sale of the home is not enough to pay back the reverse mortgage, the insurance protects the borrower or estate from owing more than the sale price by covering losses incurred by the lender.

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.

A report into RBS» treatment of small businesses by Vince Cable's adviser Lawrence Tomlinson gives examples of some of the costs businesses say they incurred through the lender's restructuring group.

Some lenders will also let you to pay by check or another method without incurring a fee, which can be a good option for borrowers who don't or can't set up automatic withdrawal.

a uniform one - page worksheet prescribed in regulations promulgated by the commissioner, written in plain and simple language, and including relevant examples, where necessary, which would allow you to calculate easily through simple arithmetic all the charges and fees that you are likely to incur in securing such mortgage from the mortgage lender.

While profound credit verification performed by lenders after pre-approval will incur hard inquiry and cause slight personal credit score drop.

The Participating Lender's policy, including the additional charges you will incur are detailed in the loan documents provided to you by your Participating Lender before you are requested to e-sign the loan documents.

The Participating Lender's policy, including the additional charges you will incur, is detailed in the loan documents provided to you by your Participating Lender before you are requested to e-sign the loan.

The Participating Lender's policy, including the additional charges you will incur, are detailed in the loan documents provided to you by your Participating Lender before you are requested to e-sign for the cash advance.

The lender incurs in fewer risks by lending money when the money is guaranteed by an asset.

The notice will contain (i) the date and time after which your motor vehicle may be sold; and (ii) a written accounting of the outstanding balance on your motor vehicle title loan, the amount of interest accrued through the date the motor vehicle title lender took possession of your motor vehicle, and any reasonable costs incurred to date by the motor vehicle title lender in connection with repossessing, preparing for sale, and selling your motor vehicle.

Within 30 days of a motor vehicle title lender receiving funds from the sale of your motor vehicle, you are entitled to receive any surplus from the sale in excess of the sum of the following: (i) the outstanding balance on your motor vehicle title loan; (ii) the amount of interest accrued on your motor vehicle title loan through the date the motor vehicle title lender repossessed your motor vehicle; and (iii) any reasonable costs incurred by the motor vehicle title lender in repossessing, preparing for sale, and selling your motor vehicle.

Index A published interest rate against which lenders measure the difference between the current interest rate on an adjustable rate mortgage and that earned by other investments (such as one, three, and five year U.S. Treasury security yields, the monthly average interest rate on loans closed by savings and loan institutions, and the monthly average costs - of - funds incurred by savings and loans), which is then used to adjust the interest rate on an adjustable mortgage up or down.

At any time prior to such sale, the lender shall permit the borrower to redeem the titled personal property by tendering a money order or certified check for the principal amount of the title loan, interest accrued through the date the lender takes possession, and any reasonable expenses incurred to date by the lender in taking possession of, preparing for sale, and selling the titled personal property.

Some online lenders take the position that they're not bound by state laws, but with legal help, you may still be able to fight their claim for repayment, or at least for any extra interest and fees incurred by defaulting.

It is expressly agreed that notwithstanding any other provisions of this contract, the purchaser shall not be obligated to complete the purchase of the property described herein or to incur any penalty by forfeiture of earnest money deposits or otherwise unless the purchaser has been given in accordance with HUD / FHA or VA requirements a written statement issued by the Federal Housing Commissioner, Department of Veterans Affairs, or a Direct Endorsement Lender, setting forth the appraised value of the property of not less than $.

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.

Costs incurred by the Subscriber for refiling applications for loans, grants, or other credit that are rejected solely because the lender received from any source incorrect information as a result of the Identity Fraud;

Since auto title loans are secured by your vehicle, the lender incurs less risk and can then offer lower rates to these applicants (without a credit check).

She says there are risks for lawyers because the legal insurer providing coverage for lawyers in Ontario doesn't provide protection for claims or losses incurred by private lenders.

The second scenario allows the lender to cover the financial loss incurred by their mortgage investment in the event that interest rates decrease.

Realtors have commented to me on numerous occasions that after securing a vacant home and incurring costs for doing so, they are not being compensated by the asset management firm, lender or contracting party.

By incurring debt on an investment, the investor is using only a small portion of the equity investment to finance rental property loans, with the majority of the capital being provided by the lendeBy incurring debt on an investment, the investor is using only a small portion of the equity investment to finance rental property loans, with the majority of the capital being provided by the lendeby the lender.

Lenders are required by law to provide a written good faith estimate (GFE), which is an estimate of closing costs you will incur at closing, within three days of applying for a loan.

Settlement agents, including one submitting an ex parte submission, and trade associations representing settlement agents and the title insurance industry offered a number of other examples: closing costs unrelated to loan costs paid by or on behalf of the consumer; payments to discharge any defects, liens, encumbrances or other matters requiring curative action discovered during a title search or examination; any prorated or per diem amount where the underlying rate does not change; insurance fees; home warranties; lender reserves for taxes and insurance and amounts paid to a State or local government; recording costs and other fees incurred for the consumer's convenience, such as wire fees, notary fees, and endorsement fees; and changes due to consumer - seller negotiations or as a result of local custom or practice.

Section 5 (c) of RESPA states that lenders shall provide, within three days of receiving the consumer's application, a good faith estimate of the amount or range of charges for specific settlement services the borrower is likely to incur in connection with the settlement as prescribed by the Bureau.