Sentences with phrase «larger than the value of the property»

An «underwater» borrower is someone with a loan balance that is larger than the value of the property.

Not exact matches

To compound this problem, mall owners are now starting to mail in the keys to financially troubled malls: More mall landlords are choosing to walk away from struggling properties, leaving creditors in the lurch and posing a threat to the values of nearby real estate... [as] some of the largest U.S. landlords are calculating it is more advantageous to hand over ownership to lenders than to attempt to restructure debts on properties with darkening outlooks (LINK).

There is a limitation to the model: the WAS data underpinning it does not capture the value of residential properties that are owned by entities other than private individuals and households, which HMRC statistics suggest are a relatively large share of high - value properties (for example, two - thirds of properties built for more than # 2 million in the UK were purchased by companies or trusts).

Foreclosure is not actually a problem for insurance programs IF the value of the property is larger than the outstanding mortgage balance and foreclosure costs.

So why don't lenders offer a true reverse mortage which would compute and lend a stream of payments (at interest of course, but hopefully a rate reflective of the low risk given the high property value / loan ratio) rather than a useless lump sum which has seniors paying pretty high mortgage interest rates on a large amount of loan, rather than a interest on the (rising) amount of loan as the stream of payments accumulated.

To get such high property values inside the city of Penticton you need a luxury house and larger - than - usual lot, and the average high - end price for residential housing is around $ 1 million (three listings).

If you requested the loan amount which is larger than 95 percent of the appraised property value, the chances are that loan will be denied.