Sentences with phrase «lien on property as»

In other words, Grandpa purposely didn't deal with the mortgage lien on the property as grandpa was in fact the mortgagee which by causing a default benefits his personal interest as the mortgagee by creating a barrier to reinstatement for lack of debt service and the excessive accrued interest.

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

A» secured» creditor has taken a mortgage or other lien on property as collateral for the loan.

This secures title in the new borrower's name, and protects the new lender (s) from unknown liens on the property as well.

Not exact matches

The federal government (IRS), as well as state and local governments, can file liens on property.

A debenture is a claim, lien or charge, on asset or property, usually as a result of a loan.

The lender will require a lien on the property, which acts as collateral on the loan.

Instead, some conduit lenders require borrowers go through a process known as defeasance to release the lien on the property.

If you can't make payments on the mortgage, your lender has the right to keep or foreclose the property (this is what is known as a lien).

Business assets on the line for large loans: Lending Club requires a UCC - 1 lien on loans over $ 100,000, which includes your business's liquid assets such as inventory, cash and accounts receivable, but not real estate or your personal property, according to the company.

According to the 2015 30 - Day Lien Sale List as of April 7, 2015, the zip codes of the top five areas in Queens with the most properties on the 2015 Lien Sale list are (in order): 11434 (South Jamaica / Springfield Gardens), 11368 (Corona), 11691 (Far Rockaway), 11433 (Jamaica) and 11413 (Laurelton).

Once the statute of limitations expires, the agency loses the right to garnish your wages or place a lien on your personal property such as your home or bank account.

Medical debt collection agencies can garnish your wages or place a lien on your personal property such as your car, home, or bank account.

A title loan, also known as a title pawn, is a type of secure loan where a lender puts a lien on a borrower's property, their car in this case, in exchange for an amount to be loaned.

The deed of trust — also called a «mortgage» or «lien» — states that the home may be used as «collateral» for repayment of the loan; in the event of payment default, the lender is able to foreclose on the property, sell it, and retain the proceeds to satisfy the debt in question.

Now if your parents are listed on the mortgage or somehow have a lien on the house, you have a bigger issue as they technically own (or at least have an interest in) part of the property and when you decide to sell the house you would have to involve them.

Balance owed on all liens attached to the property including all mortgages as well as any home equity loans or lines of credit.

The property being financed by the loan acts as collateral, and the lender attaches a lien to the property that allows seizure if you fail to repay on time.

If a loans meets the following tests, it is covered under the law: 1) For a first - lien loan otherwise referred to as the original mortgage on the property - the Annual Percentage Rate (APR) exceeds by more than 8 percentage points compared against the rates on Treasury securities of comparable maturity; 2) For a second - lien loan otherwise referred to as a 2nd mortgage - the APR (Annual Percentage Rate) exceeds by more than 10 percentage points compared to the rates in Treasury securities of comparable maturity; or the total points and fees payable by the borrower at or before closing exceed the larger of $ 561 or 8 % of the total loan amount.

The IRS can also take your assets as a payment or they can put a lien on your properties.

A tax lien is defined as a state or federal claim against a company's assets or property due to their failure to satisfy a tax bill on time.

The lender will require a lien on the property, which acts as collateral on the loan.

Instead, some conduit lenders require borrowers go through a process known as defeasance to release the lien on the property.

If you can't make payments on the mortgage, your lender has the right to keep or foreclose the property (this is what is known as a lien).

The lender may also take into account any debts belonging to the loan applicant as part of the financial assessment, including any liens that are on the applicant's property.

For instance, lenders view builders liens and property tax liens as an additional mortgage on the property.

A lien is any official claim or charge on a piece of property, known as collateral, for payment of a debt owed or for some agreed upon service.

After the loan is closed, the title company will prepare an ALTA (American Land Title Association) title policy that reflects the new mortgage loan as a lien on the property.

(1) The following shall be exempt from the Credit Services Organization Act: (a) A person authorized to make loans or extensions of credit under the laws of this state or the United States who is subject to regulation and supervision by this state or the United States or a lender approved by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act, 12 U.S.C. 1701 et seq.; (b) A bank or savings and loan association whose deposit or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or a subsidiary of such a bank or savings and loan association; (c) A credit union doing business in this state; (d) A nonprofit organization exempt from taxation under section 501 (c)(3) of the Internal Revenue Code; (e) A person licensed as a real estate broker or salesperson under the Nebraska Real Estate License Act acting within the course and scope of that license; (f) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney; (g) A broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (h) A consumer reporting agency; (i) A person whose primary business is making loans secured by liens on real property; (j) A person, firm, corporation, or association licensed as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69 - 1217.

Examples include fraud and forgery and title defects (such as unpaid liens on the property, encroachments, etc.).

A deed which conveys not only all the grantor's interests in and title to the property to the grantee, but also warrants that if the title is defective or has a «cloud» on it (such as mortgage claims, tax liens, title claims, judgments, or mechanic's liens against it) the grantee may hold the grantor liable.

A Lien puts a hold on real or personal property and allows the property to be held as collateral for debt payments or services which are owed to another lender.

The Borrower must be reflected as the owner of the subject property on the preliminary title report and there must be no liens on the subject property.

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.»

Having equity means the market value of your home is greater than the outstanding balance of all liens on the property — that is, your mortgage loan, any second mortgage or home equity loans, plus other liens, such as tax liens or Homeowners Association dues.

The rate featured is based on a loan - to - value ratio up to 80 % for loans of $ 50,000 and above, a maximum loan to value of up to 80 %, terms between 121 - 180 months, and ESL listed as the first lien holder on the property.

Tax liens may be imposed for delinquent taxes owed on real property or personal property, or as a result of failure to pay income taxes or other taxes.

The lender would have a lien on the property, the same as a traditional mortgage.

Some may refer to a mortgage as a «lien,» which represents a security interest by a lender on a piece of property.

The loan - to - value ratio (LTV) is calculated as the amount of all mortgage and equity liens on your property divided by the appraised value of the property, expressed as a percentage.

If there is an existing second mortgage on the property, such as a Home Equity Credit Line, the entire lien must be subordinated at refinance.

Even when a property is resold quickly, or refinanced within a short period of time from the original purchase or most recent refinance, a new title search and title policy are needed because the owner could have taken actions that had an impact on his claim to the title, such as taking out a second mortgage or incurred a lien from unpaid taxes.

If you have a lien on property, such as a home mortgage, you can not have the mortgage discharged in bankruptcy.

Having a tax lien applied to your property is going to destroy your credit score, and the lien will remain on your score for as long as you owe back taxes, so the best way to deal with the lien and repair your credit is to repay the outstanding debt.

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.

Mortgage interest must be due to a secured property loan, which is a loan that uses a financial instrument to secure the property by placing a lien on it such as a mortgage, deed of trust or land contract.

I drove to a gun buyback on Saturday in St. Roch organized as a Prospect satellite event by Kirsha Kaechele, a controversial figure in this city, who championed the New Orleans arts scene directly after Katrina by buying houses around the Bywater district and using them for art installations, only to retreat to Tasmania, «leaving thousands in unpaid property tax bills and liens behind,» in the words of the Times - Picayune.

Robert Barrack dedicates his practice to complex construction and commercial litigation and appeals, including contractual disputes, professional negligence, surety bond claims, subrogation claims, mechanics» liens, business torts, unfair trade practices, bad faith claims, product liability, and real property disputes, as well as construction transactions, on behalf of businesses, public entities, educational institutions, and individuals.

While the application of the RPLA is relatively straightforward with respect to the enforcement of certain registered interests (such as condominium liens), it is not as straightforward when dealing with liens arising under certain agreements registered on title, for default in payments owing under such agreements (which liens are not specifically registered on title to the affected property).

Typically, the notes were issued by a Woodbridge affiliate and were described as being ultimately secured by a first - priority lien on valuable real property.