Sentences with phrase «junior mortgages in»

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

Not exact matches

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.

The homeowner would be in debt for any senior balance left, and then the junior or second mortgage.

In many cases the bank will set one mortgage payment but in actuality there are two liens; one a senior for the bulk of the sale price and one a junior for the down payment and closinIn many cases the bank will set one mortgage payment but in actuality there are two liens; one a senior for the bulk of the sale price and one a junior for the down payment and closinin actuality there are two liens; one a senior for the bulk of the sale price and one a junior for the down payment and closing.

In my opinion, the client should never sign a reaffirmation agreement for a «junior» mortgage - either a second mortgage or a home equity line of credit.

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.

Chapter 13 is the only chapter that provides this; in order to «strip» a junior lien, the chapter 13 debtor must prove that the junior lien is completely unsecured - that is, that the value of the home is less than the balance of the existing first mortgage.

Plus, there is a little known provision in chapter 13 that could potentially remove any junior liens that are on your house (e.g., second mortgage, etc.).

The MyHome Assistance Program offers applicants a deferred - payment junior loan up to 3 % of the purchase price / appraised value of the mortgaged property in order to help make the down payment or pay the closing costs.

The agency helped more than 7,200 Californians buy their first home in 2016 with competitive interest rates on a first mortgage, and junior loans to help with down payment and closing costs.

If the total amount owed to your first mortgage is greater than fair market value of your property, you can eliminate the security interest to junior lienholders and treat them as general unsecured creditors in your bankruptcy plan (thereby possibly being able to pay them less than 100 %).

-- Lehman Commercial Mortgage Conduit Limited v Northern Rock (Asset Management) PLC Instructed by Ashurst LLP (as junior to David Foxton QC) to act on behalf of a Northern Rock entity in its defence of claims against it by a Lehman Brothers entity arising out of the sale by Northern Rock to Lehman brothers of a large portfolio of secured loans.

Transpacific Mortgage Group, Maui, HI 11/2003 — 07/2005 Junior Loan Processor, 02/2005 — 07/2005 Interfaced with external clients, consultants and business partners, and functioned as liaison in handling loan requests.

MAJOR ACCOMPLISHMENTS • Secured high volume mortgage loan business via self generated referral networks, that led to enhancement in revenues by 10 % • Assisted in designing of five new promotional mortgage packages to attract more potential borrowers • Trained a group of 20 junior mortgage loan officers regarding automated underwriting and state approved application processing protocols

Able to explain a complex variety of mortgage rules and program requirements to customers and junior staff in a clear and accessible manner.

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

A short sale — where homeowners sell their property for less than they owe on their mortgage — is often the last resort for people who can't pay their mortgage and are facing foreclosure, explains Rachel Ivers, a junior agent at The Blake Team at Keller Williams in Aurora, CO..

subordinated ground lease: A lease in which rights of the lessor of the ground are junior to the rights of the holder of the first mortgage.

Equity loans are second in position and junior to the existing first mortgage.