Sentences with phrase «less than the amount owed»

If you only put 5 % down on a $ 450,000 home and prices dropped by 20 %, your home would be worth less than the amount you owed on the bank — and this could spell trouble when it came time to renew your mortgage.

Some commonly accepted reasons include the miscalculation of amounts sent as payment, or refusal of an «offer in compromise,» which is a petition to the IRS to accept less than the amount you owe to settle your tax arrears.

If the car sells for less than the amount you owed, you may be liable to make up the difference.

Their current home loan is «underwater» (their home is worth less than the amount they owe on their mortgage).

With a short sale you may have the option to sell your home for less than the amount owed on your mortgage.

Lenders can take legal action to recoup money from the homeowner if a foreclosed home is sold for less than the amount owing on the mortgage.»

A short sale is defined as selling a property for less than the amount owed on the mortgage.

If your car is stolen or totaled, the insurance company pays the market value of your car, which may be less than the amount you owe.

A short sale is accomplished when an offer is placed on your property that the lienholder (lender) agrees to accept, but is an amount less than the amount owed on the loan.

If the amount obtained is less than the amount owed the creditor, the difference is called a deficiency.

Even if she doesn't file for bankruptcy, she may be able to use it as a threat to persuade the company that they should reduce her interest rate to the previously agreed level or to settle for less than the amount owed.

Some Chapter 13 debtors are able to strip their second lien, or eliminate it entirely, if the value of the home is less than the amount owed on the first trust deed.

We will help you prepare a debt repayment schedule for your creditors that is less than the amount owed but is within your ability to pay.

Where the current fair market value of your property is less than the amount you owe on your loan, the lender may agree to a short sale allowing your property to be sold for less than the amount of the loan balance.

Usually they will state \ «settled for less than amount owed \», but I didn \» t let that affect my settling.

If the redemption amount is less than the amount owed, the unpaid balance of the loan is discharged.

Other than a consolidation program or loan, there are Pennsylvania debt settlement programs that allow you to get rid of debt by paying much less than the amount you owe.

If the fair market value of a property is less than the amount owed on a first - priority mortgage, a Chapter 13 debtor may be able to remove additional mortgage liens through a process known as «lien stripping.»

Many creditors are willing to settle for less than the amount owed because they realize they will get more of what they are owed this way than if they had to hire a collection agency or take you to court.

Debt settlement companies represent that they can substantially reduce consumer debt by negotiating directly with creditors, on behalf of their customers, to pay off outstanding balances at less than the amounts owed.

«Many current homeowners are effectively trapped in homes that are worth less than the amount owed on their mortgages,» the report determined.

We have years of negotiating experience, which enables us to often times get creditors to accept significantly less than the amount owed, which means we can get bigger savings for our clients.

Negotiating specialists: Accredited Debt Relief's team is trained to negotiate your settlements with your creditors for less than the amount you owe.

This means your assets and income are less than the amount you owe.

So if the bank sells your home and gets less than the amount owing on the mortgage, then the borrower still has to keep paying the balance to the bank until it is fully paid off.

It means that the lender agrees to accept less than the amount owed on the account.

A short sale is a technique through which the homeowner sells the home for less than the amount owed to the lender, in order to sell the home quickly.

If it is sold for less than the amount owing on it, then you will be liable to repay that deficit to the company.

Be advised that offering to pay less than the amount owed on a tax debt can extend the statute of limitations for reporting the debt.

All the lien holders must agree to accept less than the amount owed on the debt in order for a short sale to go through.

In order to do so the value of your home must be less than the amount you owe on your first mortgage.

Because the home is sold for less than the amount owed, the bank will agree in writing to take a loss on the sale.

Depending on interest rates and when you die, the amount of money paid may be more or less than the amount you owe on your mortgage or loan

Gap coverage kicks in if the insurer declares your car a total loss, and the payout from the insurance company for the vehicle's actual cash value is less than the amount you owe on the car loan.

The main difference between gap insurance and CRA is that CRA will pay 20 % more than the ACV of your car, whether this exceeds or is less than the amount you owe on a vehicle.

Sometimes it is possible to negotiate with bank (s) that hold the mortgage (s) to arrange a payment amount that is less than the amount owed to fully satisfy the debt.

A «short sale» is a home that sells for less than the amount owed on the property.

If you can't afford your mortgage payments and your property value is less than the amount you owe, we may be able to help you avoid foreclosure sale with a short sale.

Lenders might forgive some portion of mortgage debt in a short sale (when value at sale is less than the amount owed) or in a foreclosure where the debt is wiped out.

In a short sale, the lender accepts a price that's less than the amount you owe on the property.

This means if the house sells at auction for less than the amount owed on the loan, the lender can try to get the remainder from the borrower with a deficiency judgement.

And say your foreclosed home is now worth less than the amount you owed on your mortgage.

Not exact matches

The government only allows a student a certain amount per year, so that they don't end up owing more than $ 50k after four years... less if you're a dependent of your parents.

When you file your tax return, if the amount of taxes you owe (your tax liability) is less than the amount that was withheld from your paycheck during the course of the year, you will receive a refund for the difference.

If you withdraw less than the RMD amount, you may owe a 50 % penalty tax on the difference.

Federal laws now grant the IRS the authority to agree to settle your debt for less than the actual amount you owe, even if it's a significant amount.

Based on your financial situation you may be able to enter into 1) full pay installment agreement - where you will full pay the account over the life of the statute of limitations or a 2) a partial pay installment agreement - where you pay an amount less than what you owe the IRS over the life of the IRS» statute of limitations.

However, this may not be a viable option if you are behind on the payments on your existing car or your car is worth less than the amount that you owe.

You wouldn't owe any taxes if the life insurance policy's cash surrender value was less than the amount you had already paid in premiums.

Short sale real estate investing is when a developer purchases a property for less than the mortgage amount owed.