Sentences with phrase «junior mortgages»

If so, it may be possible to remove, avoid, or strip junior mortgages from your property and county records.

Where can I find a Movement Mortgage, LLC Junior Mortgage Loan Officer resume example in Allentown, Pennsylvania?

Co-signers on your loans are protected, tax interest and penalties stop, and you can also remove junior mortgages on real estate.

In addition to these government programs, there are additional procedures that may be available to you to reduce mortgage payments on junior mortgages (second, third and Home equity lines of credit) that are not covered under the MHA plan.

Keep in mind that holders of junior mortgages will usually sue for a deficiency, so it rarely makes sense to reaffirm a second or third mortgage.

In Wisconsin, debtors can not strip off junior mortgages in Chapter 7.

If you own a home with more than one mortgage, you may be able to completely remove, avoid, or «strip» the second and subsequent junior mortgages from your home and county records, thus leaving only the first original mortgage!

Bankruptcy may also allow you to cancel your unsecured junior mortgages (lien strip).

2002 - 2004: Junior mortgage loan officer for NRT Financial Group, Los Angeles, California Duties and responsibilities:

In chapter 13, if your first mortgage amount is more than the value of the home, then you may be able to strip your junior mortgage.

If this is the case, your junior mortgages are considered «under secured» and are vulnerable to the lien stripping process.

«Lien stripping» (elimination of mortgages) means that upon successful completion of your Chapter 13 the mortgage company will have to remove the junior mortgage (s) from your property and the arrears on the mortgage (s) don not have to be paid back.

Second, a junior mortgage does have closing costs that include credit checks, appraisal fees and origination fees.

Junior mortgages (second or third or home equity line of credit) are not considered and these loans are not modified as part of this program.

For most individuals and families, eliminating their junior mortgages and creating an affordable three to five year repayment plan on their debt is better than anything possibly achieved through a loan modification.

Consumers are able to get caught up on delinquent mortgage payments and eliminate their junior mortgages upon the completion of their Chapter 11 plan.

In Chapter 11 consumer bankruptcy, the clients typically are able to keep their homes, eliminate their junior mortgages (i.e. 2nd, 3rd, and 4th mortgages) entirely, and even reduce the amount owed on other secured debts.

In close situations, an appraisal will help to figure out if a junior mortgage can be stripped.

If you can show your house is worth less than the principal balance of the primary mortgage, any junior mortgage or home equity line can be stripped.

For most individuals and families, eliminating their junior mortgages and creating an affordable three - to - five year repayment plan on their debt is better than anything possibly achieved through a loan modification.

Third, do you have a junior mortgage or home equity line?

«Lien stripping» (elimination of mortgages) means that upon successful completion of your Chapter 13, the mortgage company will have to remove the junior mortgage (s) from your property and the arrears on the mortgage (s) do not have to be paid back.

This can be a great benefit for you as the junior mortgages can be removed and NOT paid according to your Chapter 13 Plan.

This is an actual resume example of a Junior Mortgage Loan Officer who works in the Call Center Industry.

Several times each year, we shockingly watch inexperienced real estate investors come to the foreclosure auction and bid on a junior mortgage which they mistakenly think is a senior mortgage.

However, some junior mortgages are indeed interest - only and require a balloon payment, consisting of the original loan balance at maturity.