Sentences with phrase «judgment against the borrower»

They can also cover prepaid taxes and insurance; debts that have to be paid at closing; and liens or judgments against the borrower.

Banks who have made mortgages in North Carolina are allowed to seek deficiency judgments against borrowers.

While it's unconstitutional to be arrested for failing to pay a debt in the United States, lenders can still obtain judgments against borrowers who fail to pay with a loophole.

They also get a deficiency judgment against the borrower for the difference between the loan balance plus costs and interest and what the lender got for the property at the foreclosure sale.

Fannie also will seek deficiency judgments against borrowers if allowed by state law.

It is really a business decision for the lender to determine whether it would receive more money by accepting the Farmington Short Sale, or completing a foreclosure, reselling the property, and pursuing personal liability (i.e., deficiency judgment against the borrower and / or claims against guarantors, for loans on which those remedies are available.)

It is really a business decision for the lender to determine whether it would receive more money by accepting the St Paul Central Short Sale, or completing a foreclosure, reselling the property, and pursuing personal liability (i.e., deficiency judgment against the borrower and / or claims against guarantors, for loans on which those remedies are available.)

Ask them if they allow borrowers to use their contribution for paying off such things as bad debt or to settle judgments against the borrower.

It is really a business decision for the lender to determine whether it would receive more money by accepting the Minnesota Short Sale, or completing a foreclosure, reselling the property, and pursuing personal liability (i.e., deficiency judgment against the borrower and / or claims against guarantors, for loans on which those remedies are available.)

It is really a business decision for the lender to determine whether it would receive more money by accepting the St Louis Park Short Sale, or completing a foreclosure, reselling the property, and pursuing personal liability (i.e., deficiency judgment against the borrower and / or claims against guarantors, for loans on which those remedies are available.)

It is really a business decision for the lender to determine whether it would receive more money by accepting the St Paul Daytons Bluff Short Sale, or completing a foreclosure, reselling the property, and pursuing personal liability (i.e., deficiency judgment against the borrower and / or claims against guarantors, for loans on which those remedies are available.)

Not exact matches

So lenders file a statement of claim against a delinquent borrower, obtain a judgment, and then get an execution order to enforce the judgement to recover their losses.

Even those borrowers who have filed bankruptcy, have went through foreclosure, or have had judgments placed against them can borrow money through a payday loan.

Are there any judgment liens against the borrower's property?

The second mortgage holder can simply start a lawsuit against the borrower, with the idea that a judgment will be entered against the borrower and the second mortgage company can collect the money owed it without having to go through a foreclosure.

If there is a short fall to pay the petitioner in full the petitioner can seek a deficiency judgment form the court against the borrower.

For example, a government - backed loan in default can subject the borrower to an administrative wage garnishment (that is, a garnishment without the creditor first obtaining a court judgment) of 15 % of disposable income, and this would be in addition to any state law garnishment by another creditor (under New York law, of several creditors have judgments against a debtor, only one at a time can garnish 10 % of wages, but a government student loan can be imposed on top of a state law garnishment.A borrower can also lose tax refunds if in default on a government student loan.

Borrower can not be delinquent on any tax or non-tax debts and there can be no judgment liens against the borrower's property for a debt owed to the Federal GovBorrower can not be delinquent on any tax or non-tax debts and there can be no judgment liens against the borrower's property for a debt owed to the Federal Govborrower's property for a debt owed to the Federal Government.

A subordination agreement will be required for any judgment that is also a lien against the borrower and / or the subject property.

When repeated court judgments are placed against the borrower for wage garnishment, the employer could potentially fire the employee because of concern that the lack of credit could translate into an issue of character.

In spite of the fact that interest continues to build up, the automatic stay provisions of the bankruptcy law prevent collectors from harassing, suing and getting judgments against the people who have put their name and credit on the line for a borrower's loan.

NOTICE FOR FLORIDA RESIDENTS: You (borrower) agree that, should we obtain a judgment against you, a portion of your disposable earnings may be attached or garnished (paid to us by your employer), as provided by Florida and Federal law.

The trial court nevertheless entered judgment in favor of the servicer and against the borrower because she could not prove actual damages, as required by 12 U.S.C. s2605 (f)(1)(A).

In addition to his real estate practice, he also has significant experience representing lenders in contractual claims against borrowers and guarantors in courts throughout Michigan, as well as representing judgment creditors in post-judgment collection actions.

Are there any judgment liens against the borrower's property?

If the purchase money loan for any type of real property is financed by the seller and secured by that same property, the lender / seller may not obtain a deficiency judgment against the defaulting borrower / buyer..

A deficiency judgment is a judgment obtained by the lender in court against the borrower for the difference between the unpaid balance of the secured debt and the amount produced by sale or the fair market value of the security, whichever is greater, in a judicial foreclosure.

The property must be appraised, as well, so that the short sale offer can be evaluated by the lender against the pending mortgage, the possible foreclosure, and the probability of a deficiency judgment against the seller / borrower.

This in turn affects the amount of the deficiency judgment the lender may pursue against the borrower related to the unpaid balance of the note.

Some states limit the amount owed in a deficiency judgment to the fair value of the property at the time of sale, while other states will allow the full loan amount to be assessed against the borrower.