Sentences with phrase «lien position of»

Not exact matches

Eligibility for the Offer depends on the specific characteristics of your credit transaction, including credit line amount, your credit score and history, lien position, collateral location, and term.

Newsday has reported that Mehta secured the position, which paid $ 79,000 a year, despite a checkered financial past that includes a home foreclosure, two bankruptcy filings, a tax lien and lawsuits against him by creditors who allege that he owes thousands of dollars in unpaid bills.

For lenders, a mortgagee title insurance policy protects the lender from a loss incurred, up to the loan amount, in financing a piece of real estate resulting from an invalid or inferior lien position.

Benefits of Cash - Out Refinances include possibly lower rates and simpler terms since the cash out is provided on the loan in the first lien position on the home, and a second mortgage is not applicable.

In the event of a short sale or foreclosure, the first position lien gets paid off first, and then the subordinate (second / third / fourth / etc) position one.

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.

Junior position notes are not advisable unless you keep a large cash reserve in your IRA account to cover possibility of advancing funds to a senior lien.

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.

The lender who pays the pax in exchange for the lien would be in a senior position on the btitle (senior to the first mortgage) and would enter into an agreement with the property owner to pay back the loan, at interest of up to 18 %.

Realtors have raised concerns about these loans because they often take a first - lien position, creating problems for backers of the primary mortgage when there's a default.

First Lien Position — Primary claim by a lender for satisfaction of outstanding debt.

The home equity line of credit must be in first or second lien position.

A type of debt that places the investor in a lien position behind or subordinated to a company's primary creditors.

Sample APR assumes a new $ 100,000 HELOC in second lien position with a combined loan - to - value (CLTV) ratio of up to 70 % on a 1 - to 4 - unit owner - occupied primary residence and a borrower with excellent credit.

However, before the real estate sale document is executed, the lawyer must verify the position of the existing registration including liens, mortgages, etc, and make sure all back taxes and government fees are paid up to date.

First of all, the attorney's lien dispute could be raised in the probate proceeding (unlike the situation where a separate action is necessary in a civil litigation context) because of the lower court's unique position to approve a settlement entered into by a guardian or a conservator (the situation here).

It meets all of your criteria, it's in the right lien position, and it has the right Loan to Value (LTV) and Fair Market Value (FMV).

NAR noted that most PACE loans are in the primary lien position, which means that in the event of a default, these loans get repaid first, even before the mortgage.

So, for a house that is worth ~ $ 50,000, I now hold a first - lien position on that house, and he is paying off the $ 10,000 I «lent» him over the course of 5 years.

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.

NAR signed on to a joint letter, along with the Mortgage Bankers Association, the Financial Services Roundtable and several other financial services and real estate groups, that raised several concerns about PACE loans, especially the provision that places any PACE loans in a first lien position ahead of the primary mortgage.

This reversal of HUD policy is a victory for the National Association of REALTORS ® whose members sounded concern that PACE liens would take a first - lien position over FHA in instances of default or foreclosure, undermining the government's collateral position and disrupting the secured lending process.

A mechanic's lien may work very well since your lien would possibly take a superior position to any other liens regardless of when you filed the lien.

Rates & fees may vary due to position of lien, LTV & term.

Wingspan Portfolio Advisors is a Dallas area - based specialty and component mortgage servicer that applies advanced and highly specialized servicing techniques to turn non-performing mortgage loans into re-performing assets, regardless of lien position.

A conventional lender provides up to 50 percent of the total project cost and holds the first lien position.

The Rule applies to any closed - end consumer loan secured by a dwelling that is subject to TILA, regardless of owner occupancy (e.g., first and second homes) or lien position, including closed - end reverse mortgages.

Loan approval is not guaranteed and all loan applications are subject to verification of acceptable credit, income, employment, lien position and value of collateral in the sole discretion of Hanover Mortgage Company.

3) That the first position is so important that the Federal Housing Finance Agency prohibits Fannie Mae and Freddie Mac (conventional loans) and FHA from purchasing mortgages or notes with these types of liens on the property - either as refinances or purchases.

Junior position notes are not advisable unless you keep a large cash reserve in your IRA account to cover possibility of advancing funds to a senior lien.

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.

The hard money loan is for Redmond real estate only, and must be in first lien position secured with a Deed of Trust and insured with a Lender's Title policy.

The bridge loan is for Burien real estate only, and must be in first lien position secured with a Deed of Trust and insured with a Lender's Title policy.

The bridge loan is for Littleton real estate only, and must be in first lien position secured with a Deed of Trust and insured with a Lender's Title policy.

The hard money loan is for Renton real estate only, and must be in first lien position secured with a Deed of Trust and insured with a Lender's Title policy.

The bridge loan is for Mercer Island real estate only, and must be in first lien position secured with a Deed of Trust and insured with a Lender's Title policy.

The hard money loan is for Kirkland real estate only, and must be in first lien position secured with a Deed of Trust and insured with a Lender's Title policy.

The bridge loan is for Boulder real estate only, and must be in first lien position secured with a Deed of Trust and insured with a Lender's Title policy.

The bridge loan is for Issaquah real estate only, and must be in first lien position secured with a Deed of Trust and insured with a Lender's Title policy.

Collection accounts or charged - off accounts that exceed the above limits do not have to be paid off at or prior to closing, provided all of the following are documented: a strong credit profile, meaningful financial reserves, evidence that the accounts pose no threat to Fannie Mae's first mortgage lien and evidence that the outstanding accounts are not likely to affect the borrower's equity position.»