Sentences with phrase «lien position if»

There is an early termination fee of 1 % or 2 % (up to $ 250) of the principal balance depending on lien position if your HELOC is closed before the third anniversary.

Not exact matches

If you close your Credit Line before the third anniversary you may be charged 1 % or 2 % of the principle balance depending on lien position, up to $ 250.

However, if your house is completely paid for and you have no mortgage, some lenders allow you to open a home equity line of credit in the first lien position, meaning the HELOC will be your first mortgage.

Therefore, if a person defaults on their mortgage and home equity loans, the lender listed in the 1st lien position on the mortgage would get paid the balance, and whatever dollar amount is leftover would go to the home equity lender.

If any liens are placed on the home, this fee ensures the FHA loan will remain in first position on title.

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

If the unit owner failed to pay a costs award then the corporation would be in a position to file a lien against the owner's unit.

The Court stated that if each unit owner paid the unit's proportionate interest toward the security, then the lien claimant would be in no different position than if the lands were not registered as a condominium.

However, be aware, their initial position is likely to be that if you were responsible for the taxes (especially if you had paid previous assessments) you are presumed to be aware a lien was issued.

Another example is if a more superior lien forecloses and there is no equity to protect your lien's position.

The way they do that is bidding up to the dollar value of their lien plus all senior liens — they would only do that if they felt the value was higher than their position.

If this were a second lien position you would most often find the answer is no at any price (rate).

«Few, if any lenders are going to accept this secondary lien position,» real estate agent Then said, so the tax - lien associated with the HERO improvements will have to be paid off, in most cases, at the time a sale closes or the mortgage is refinanced.

If I do the exact same thing with a $ 100K HELOC in 1st lien position for the same house, the same monthly expenses, and instead of 5 % interest rate I assume 6 % interest rate, I will be done paying in 7 years.

If you have access to 4 - 5 % HELOC money and your first lien position is north of 10 %, then I could see it possibly working.

and generally speaking if you have looked at chain of title and you KNOW that your bidding on a first position lien then yes all the other liens are removed from the property as it relates to your purchase.