In my case, the MI company of the 2nd
lien holder want a seller contribution yet the seller is flat broke.
The reason for this is simple — if you are still making payments on your vehicle,
the lien holder wants to be sure that they receive as much money as possible in the event that you wreck the car.
Not exact matches
In this case do you think the
lien holders will just
want this money pit off their backs?
If you simply
want to refinance the first mortgage, your total housing debt shouldn't exceed 80 % of your home's market value, or else the
holders of the second
lien may refuse to resubordinate (agree to stand behind the first - mortgage
holder for repayment if you default).
An auto title loan is based on the equity of your Chrysler 300 and your ability to repay the loan, where LoanMart will take over the title to the vehicle as the
lien holder for the duration of your payment period; we do this so that you may have free reign of your car, unlike other lenders that
want to impound your car!
The insurance company will likely
want to get releases from your
lien holders before giving you any money, or they will try to make a check payable to you and the
lien holders as well.