Sentences with phrase «lien holder»
During the negotiation process the 2nd lien holder is offered $ 5000 in order to approve the short sale and allow the sale to take place.
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A deed in lieu of foreclosure does not protect your credit, nor will it cut off the rights of junior lien holders.
If there's a second mortgage on the property, it can take additional time to get both the first and second lien holders in agreement.
If there's any money remaining after the first lien holder gets paid, then the holder of the second lien gets paid.
There are tax advantages to the lender that far outweigh the offer of $ 5000 that they received from the 1st lien holder.
How will the other lien holders react to this situation?
Closing an auto claim with lien holder without collecting a claim check because of bankruptcy?
Especially, with lien holders in the 2nd position.
What does the first lien holder do when the 2nd mortgage is sold?
The reverse mortgage lien holder simply has a secured interest in your home as would be the case with a traditional mortgage or home equity line of credit.
If there's any money remaining after the first lien holder gets paid, then the holder of the second lien gets paid.
One big reason for this is that some vehicles are leased or financed, and lien holders generally require these types of car insurance protection on their vehicles until the liens are satisfied.
There can be many lien holders that must agree to basically give up their interest in the property.
This type of delayed payoff will take place until all prior lien holders are satisfied or the amount of available appreciation is exhausted.
How will the other lien holders react to this situation?
If the asset does not sell for more than what the primary loan can be satisfied, the secondary lien holder gets nothing.
Short sales that have more than one lien holder tend to be slightly more difficult to get done than ones where there is only one lender involved.
Then you are responsible to pay off the Senior lien holders.
Of course, this result was in harmony with common practice among plaintiffs and medical lien holders; plaintiff's counsel typically requested and received reductions in the liens of insurers and hospitals.
After we've obtained approval from the lender, what we call lien holder consent, it takes an additional 30 to 60 days to move to closing.
Usually, the first - position lien must be completely satisfied before the second - position lien holder can receive any remaining collateral.
Then the 3rd lien holder, since they did not receive the full amount that was owed, have the option of filing a deficiency judgment against the homeowner for the deficient amount.
It simply protects the lender from any other possible lien holders.
You can't sell your home without your lender and any other lien holders agreeing to the sale and releasing the lien so that the buyers can get clear title.
However, you are still responsible to pay those senior to you in this case the 1st and 2nd lien holders.
In some cases, multiple lenders might work out an arrangement that leaves more collateral for junior lien holders.
This is against the spirit of the program, but second lien holders are within their rights to deny the refinance.
And why buy 2nd mortgages if there is a 1st mortgage or can you negotiate with the 1st lien holder to accept a discount?
The reverse mortgage lender must be the first lien holder.
Secondary lien holders can effectively block any modification efforts.
Short sales that have more than one lien holder tend to be slightly more difficult to get done than ones where there is only one lender involved.
You can't sell short without your lender (and any other lien holders) agreeing to the sale and releasing the lien so that the buyers can get clear title.
Based on your Toyota Highlander's equity and your ability to repay the loan, LoanMart will add themselves to the vehicle title as lien holder as a form of collateral.
Investors can receive up to $ 2,000 when they allow short - sale proceeds to be distributed to subordinate lien holders on a one - for - three matching basis.
Known as «Part I» of non-judicial foreclosures, this was the method previously used most by lien holders as it proved to be the fastest and least expensive.
An auto title loan is a low - risk, short - term loan based around the equity of a person's drivable motor vehicle — in this case, your Dodge Charger — and their ability to repay the loan where LoanMart takes over the duties of lien holder of the vehicle title, so that a customer may retain full use of the vehicle over the duration of the loan payment period (pending punctual payments are consistently made).
As a matter of fact, collision and comprehensive are required by lien holders for drivers who have either a lease or a loan on a car they are insuring in New York.
The guarantee does not apply if events occur beyond the control of New American Funding, including but not limited to; appraised value, escrow or title delays, 2nd lien holder approval, short sale approval, or lender conditions that can not be met by any party.
Existing lien holders must agree to accept the proceeds of the H4H refinance as full payment, and to release their liens.
Based on the equity of your Nissan Frontier and your ability to repay the loan, an auto title loan with LoanMart places LoanMart as the sole lien holder on the title of your vehicle.
In my case, the MI company of the 2nd lien holder want a seller contribution yet the seller is flat broke.
These requirements come not from the state, but from lien holders with a financial stake in the cars.
Non-mortgage lien holders still must provide lien releases and waive borrower liability.
Getting automobile insurance rate quotes on leased or financed vehicles makes sense, for example, since lien holders typically require these modes of coverage while you are working to pay off any outstanding financial obligations.
After a period of time the 1st lien holder orders an appraisal to verify market value and after doing their due diligence determines that $ 290,000 is well within the acceptable limits of market value.
Registering a mortgage protects the current lien holder and any future owners of the property.
The buyer's agent and myself were going to pay it out of our commission but the 1st lien holder refuses to allow it on the HUD.