Sentences with phrase «insured loan obligation»

Not exact matches

However, with FHA - insured loans, potential homeowners can use up to about 56 % of their income on their debt obligations.

Reverse mortgages are not a rip - off at all; they are a federally insured loan1 that allows homeowners 62 and older to convert a portion of their home equity into usable funds without having to repay the loan for as long as they continue to meet the loan obligations.2

(8) for an educational benefit overpayment or loan made, insured or guaranteed by a governmental unit, or made under any program funded in whole or in part by a governmental unit or nonprofit institution, or for an obligation to repay funds received as an educational benefit, scholarship or stipend, unless excepting such debt from discharge under this paragraph will impose an undue hardship on the debtor and the debtor's dependents;

FHA insures that borrowers can live in their home as long as basic loan obligations are met (homeowner's insurance in force, property tax payments current and the home is maintained in good condition).

This works well for insured people if the term ends after most of their obligations — mortgage, student loans, children's education and so on — are no longer an issue and they don't need that extra level of protection that life insurance offers.

Whatever type of policy the policyholder selects, he / she is obliged to pay a monthly premium to the insurer, while the insurer takes an obligation to arrange the loan payments of the insured at times he / she is unable to do it.

This works well for insured people if the term ends after most of their obligations — mortgage, student loans, children's education and so on — are no longer an issue and they don't need that extra level of protection that life insurance offers.