Sentences with phrase «loans after the primary»

They are only available to homeowners aged 62 and older (spouses can be under 62 and have the option to maintain the loan after the primary borrower dies).

«Widowed spouses are being consumed by a labyrinth of processes in an attempt to assume or modify existing home loans after the primary mortgage holder passes away.

Not exact matches

After the housing bubble popped a decade ago, Congress outlawed BPOs as the primary way to value a home for the purpose of getting a loan.

In the meantime, HUD has issued a ruling essentially saying that for reverse mortgages closed after August 4th of this year, a non-borrowing spouse can remain in the house after the borrowing spouse dies, assuming the couple was married at the time of the loan closing, occupied and continues to occupy the house as a primary residence and the non-borrowing spouse is listed on the loan documents.

A cosigner is someone who signs the loan after there has already been an application submission and agrees to pay what the primary loan holder is unable to, but does not have ownership of the property.

If you are refinancing your primary residence, the loan won't be finalized until three business days after you sign the loan documents.

In addition, for student borrowers who utilize a cosigner, the cosigner can be released from the student loan obligation after the primary borrower makes 24 consecutive on - time principal and interest payments during the repayment period.

Students who receive loans must agree to enter and complete residency training in primary care within four years after graduation, and practice primary care for ten years or until the loan is paid in full, whichever occurs first.

The primary mortgage still must be paid off after the home equity loan / HELOC.

McNeal, after filing for bankruptcy under a Chapter 7, reported that her mortgage was subject to two mortgage liens, $ 176,413 held by the primary lender and a second priority loan in the amount of $ 44,444.

The tax effect One of the primary advantages of homeownership is the savings you receive on your income taxes — all that interest (up to a million dollars for the first loan, and $ 100,00 for the second) is tax deductible, after all.

Many lenders do offer cosigner release programs, however, where the primary borrower can have the cosigner released from the loan by making a certain number of on - time payments after graduation.

Other times you should update your beneficiary include getting married (add your spouse), getting divorced (subtract your spouse), when buying a new home or car (to make sure your wife is the primary beneficiary in case she needs to make loan payments), or after having a child (same, but for paying for college).

If the loan principal amount is lower than the policy's death benefit at the time that a payout is made, your secondary beneficiary (for example, business partner or spouse) will receive the difference after the primary beneficiary (the lender) receives its payout.

For a project over $ 35K, you can look at the FHA 203 (k) which does not have a renovation budget limit, but up to 110 % of the value, or the HomeStyle Renovation loan for investors / Primary Residences which is a max budget of 50 % of the After Repairs Value.