Sentences with phrase «lien holders in»

-- Freddie Mac and Fannie Mae will offer up to $ 6,000 to second lien holders in order to quicken the pace of a short sale.

Especially, with lien holders in the 2nd position.

This will protect the lien holder in the event that you are in an accident and damage the vehicle.

Not exact matches

Using an extensive set of data on loan performance that we have developed with Equifax, we find that multiple first mortgage lien holders — that is, people owning more than one home — account for about 40 percent of the dollar volume of seriously delinquent mortgage balances, up from about 5 percent in 2004 (Chart 10).

In some states it can take up to a few weeks for the DMV to add us as a lien holder and send the car title back to us.

A common secured product in the US is a 2nd lien holder to a home (the first being the mortgage), called a HELOC (Home Equity Line Of Credit).

Existing subordinate lien holders, in particular, are highly unlikely to agree to release liens at a complete loss.»

The same case applies to the third mortgage holder if any, who must, in turn, wait for the first and second mortgage holders to be paid before they can claim a lien.

In some cases, multiple lenders might work out an arrangement that leaves more collateral for junior lien holders.

(This is when lawyers would step in, take a portion of the proceeds equal to the outstanding debt, and remit that to the lien - holder.)

There can be many lien holders that must agree to basically give up their interest in the property.

A deed in lieu of foreclosure does not protect your credit, nor will it cut off the rights of junior lien holders.

In other words, the lender would take the property back subject to the junior lien holders.

The debtor's property is protected from seizure from creditors, including mortgage and other lien holders, as long as the proposed payments are made and necessary insurance coverages remain in place.

In this case do you think the lien holders will just want this money pit off their backs?

If a modification isn't the right move for you, we can also assist you in getting a short sale approved by your lien holder.

In my case, the MI company of the 2nd lien holder want a seller contribution yet the seller is flat broke.

One of the key issues at play is what happens to junior lien - holders (JP Morgan Chase alone has over $ 130 billion worth of secondary loans in its portfolio) in the event of modifications.

Auto title loans are low - risk, short - term loans based around the equity of a vehicle (in this case, your Chevy Silverado 2500) and your ability to repay the loan where LoanMart takes over as the title's sole lien holder.

Of course there are times that it will be impossible to make the deal work but in many cases the skill of the negotiator can find a middle ground with the 2nd lien holder.

In the case of a vehicle with a lien, there is a specific place on the title to have a lien holder listed, and the holder of the lien will also hold the title until the lien is cleared.

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.

However, you are still responsible to pay those senior to you in this case the 1st and 2nd lien holders.

As with the example above, mortgage lenders, mortgage insurance companies, second lien holders, and in the case of short sales, the new buyers have to agree to the terms of the loss mitigation program.

A lender (such as LoanMart) will become the sole lien holder for the duration of your loan's payment period, as your vehicle now becomes a form of collateral, just in case something should happen where your payments begin to become tardy.

When the home is sold or foreclosure upon (in the case of a default), the first mortgage lien holder is paid first and the second mortgage lien holder is paid later.

Auto title loans are loans based around the equity of your Ford F - 150, where LoanMart will take over your free - and - clear title as the lien holder; taking over as lien holder is your collateral in this loan process, which means you keep your keys and keep driving for the duration!

That incentive payment could be applied towards settling junior liens - so, if a junior lien - holder was playing hardball, holding out for more money in order to release a lien, the seller might be forced to use their incentive money for that purpose, and never actually see any of the cash.

The 2nd lien holder will be able to foreclose on the property if they make loan payments to the 1st lien holder on behalf of the borrower in order to keep the 1st loan current.

If the borrower defaults on the 1st loan, the lien holder of the 1st will be able to foreclose on the property and wipe out the 2nd lien holder's interest in the property.

If Countrywide is in a second position, ask that the first lien holder to get their attorney involved, this will speed up the process.

Here is what should be accomplished in a short sale: Borrower is released from all liens on property in the sale, some payoff may have to be made to first of second lien holder.

An auto title loan is a loan that is secured with your drivable motor vehicle, in which your lender becomes the lien holder of the title.

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.

Similar to a mortgage, if you are late on auto loan payments, the lien holder can repossess your car and, in some states, do so without going to court.

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.

However, the lien holders would have to be worked hard to taker a reduction and the plaintiff's attorney might have to take a small reduction in fee.

As such, in our scenario, before you get paid, you are required to pay $ 40,000.00 to the lien holders.

The «Ruta» [2000] 1 Lloyd's Rep 359: Chris acted for the wages Claimants (not Defendants as stated in the report) in this action in which David Steel J. declined to follow a supposed rule set out in a number of text books and instead applied the Admiralty Court's wide equitable discretion so as to accord priority to the claims of unpaid crew members above the claims of the holders of damage maritime liens.

A court filing signed by Colorado Customware attorney Michael Pankow states that Colorado Customware «believes the other lien holders have consented by agreeing or acquiescing in the sale».

Resolving lien claims can be difficult because of the many complex laws that apply to them, and because holders of lien claims are often slow to respond in writing to questions about their liens.

In this first - impression case, the Court of Appeal harmonized some apparently conflicting laws and ruled that the holder of an attorney lien need not file a creditor's claim in the probate estate of the deceased clienIn this first - impression case, the Court of Appeal harmonized some apparently conflicting laws and ruled that the holder of an attorney lien need not file a creditor's claim in the probate estate of the deceased clienin the probate estate of the deceased client.

Unlike the situation of a resulting trust, the lien holder does not receive the benefit of any appreciation in the value of the property after it is sold.

In other words, if you have accepted what you consider to be a sufficient settlement but fail to account for the interests of lien holders, you could win the battle but lose the war.

In your example, the holder of the $ 100K lien could, following the foreclosure sale, pay the first lienholder $ 400K and become owner of the property, wiping out...

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.

arising from or attributable, in whole or in part, to: a) a debt, insolvency, commercial failure, the repossession of any property by any title holder or lien holder or any other financial cause; b) non-compliance by you with regard to any obligation specified in a contract or license;

Thus it is very important not to have any lapses in coverage, especially while you are working on paying off a car, because the policies typically chosen by these lien holders are very typically a lot more expensive than the prevailing market rates.

Gap insurances pay the remaining amount you have to pay to the lien - holder when you «total» your vehicle, after the insurer has paid the stipulated amount in the insurance package.

These requirements come not from the state, but from lien holders with a financial stake in the cars.