Sentences with phrase «lien gives the lender»

The lien gives the lender the ability to repossess the car should you stop making payments.

The lien gives the lender the right to reclaim or repossess the vehicle if such is necessary.

This type of lien gives the lender the right to sell the property in order to satisfy the outstanding loan balance.

Not exact matches

The VA gives lenders leeway in how they handle an applicant with «derogatory debt» (such as collections, judgments and liens).

For instance, if you want to take out a home equity loan to cover your tax bill, the lender will only give you the loan if that lien takes precedence over the IRS lien.

They give the lender a lien on the property and contribute $ 20,000 to complete the project.

Appraiser — gives an estimate of the value of the property so that the first lien lender does not lend too much.

Give the lawyer and agent information regarding the property, including mortgage papers, property taxes, notices from the lender, statement of claim and any liens.

By placing collateral against the value of a bad credit loan, you are giving the lender permission to place a lien against your home or other valuable property.

The Mortgage is a lien on the real property that gives the lender the right to take the property by foreclosure if you default on the loan.

Once they have the appropriate license, lenders have the power to enter into a contract with a borrower, stating that they will give them a certain amount of money in exchange for putting a lien against their car.

However, a motor vehicle title lender may seek a personal money judgment against you if you impair the motor vehicle title lender's security interest by (i) intentionally damaging or destroying your motor vehicle; (ii) intentionally hiding your motor vehicle; (iii) giving the motor vehicle title lender a lien on a motor vehicle that has an undisclosed prior lien; (iv) selling your motor vehicle without the motor vehicle title lender's written consent; or (v) securing another loan or obligation with a security interest in your motor vehicle without the motor vehicle title lender's written consent.

When the borrower pays off the loan, the lender gives the borrower a satisfaction of mortgage that removes the lien from the property.

The term «secured debt» applies when you give the lender a mortgage, deed of trust or lien on property as collateral for a loan.

When a chapter 11 debtor needs operating capital, it may be able to obtain it from a lender by giving the lender a court - approved «superpriority» over other unsecured creditors or a lien on property of the estate.

Loans for which the borrower gives the lender a lien on property such as an automobile, boat, other personal property or real estate that will serve as collateral for the loan.

So if you're an auto lender and you're considering giving this consumer a loan for a $ 35,000 automobile, it's important for the lender to be aware that the consumer also has this other lien obligation that they're also paying off.»

The store's loan agreement with the senior lender may contain some hoops that must be jumped through before a lien can be given to a junior lender.

The Mortgage is a lien on the real property that gives the lender the right to take the property by foreclosure if you default on the loan.

An escrow account for taxes gives the lender a backup if you do miss some tax payments and makes a property tax lien less likely to occur

In other words, the borrower (mortgagor) gives the lender (mortgagee) a lien on the property, which serves as collateral for the loan.

A mortgage is a lien on real property given by the Buyer to a lender as security for money borrowed.

Terrence — in that case you would most likely be giving your private lender a 2nd lien on the property and your bank would get the 1st lien.

Current law gives delinquent PACE assessments «super-priority» status, as part of the tax bill, over other recorded obligations; lenders require these «super liens» to be paid off before any new financing can be obtained.