Sentences with phrase «lost on the defaulted loan»

Not exact matches

The lending standards on equipment financing can be less strict because your equipment will be used as collateral for the loan — in other words, if you default, the bank has the right to seize your equipment to cover the cost of their lost money.

Both equity options carry interest, and if you default on the loan, you could lose your home.

And if you default on an equity - financed auto loan, you could lose your home as well as your car.

When you default on a federal student loan, you lose eligibility to receive additional federal student aid.

In 2012, she dismissed a suit brought by Bank of America against troubled developer Kent Swig who had lost a fortune in the financial crisis, after Swig defaulted on $ 17.6 million in loans tied to his Upper East Side apartment.

You do run the risk someone may default on a loan and you lose all your money.

If your business hits a rough patch and you has trouble making payments, or default on the loan, there's no collateral to lose.

A secured loan backed by a car or house typically is cheaper, but you can lose the asset if you default on paying it back.

Let's pretend you defaulted on a VA loan and lost $ 65,000 in entitlement.

If a borrower defaults on his or her car loan, then the lender will repossess the car to try to recover the money it lost on the car loan.

Similarly, if they aren't aware that student loan deferment exists — they might believe that defaulting on their loans is their only option when they lose their job or encounter financial difficulties.

When the loan against a home is greater than 80 % of the home's resale value, the lender is very likely to lose money in the event the borrower defaults on the mortgage.

The upshot of providing no collateral is that there is nothing for the borrower to lose should they default on the personal loan.

Also, if you use your house as collateral for the loan and then default on the loan, you could lose your home.

Remember if you default on your home equity loan, you can lose your house, so you should make sure you can afford the payments before signing the loan documents.

If you got a loan with 0 % down, you can still lose your job and just default on the entire balance.

This safeguards the lender for monies lost in the event you default on the home loan.

Defaulting on a home equity loan could cause you to lose your home.

If you fall behind, or worse, enter default on the loan, you will lose whatever property you put up for collateral.

If you default on a federal student loan, you lose eligibility to receive federal student aid and you may experience serious legal consequences.

Vice Versa; as the number of students in default on their student loan payments increases, investors lose money.

If you default on the big loan, you lose all the properties.

Otherwise, if someone assumes your loan and later defaults, you would lose the VA loan entitlement you used on that property.

The lender is relying on your promise to make the payments — and stands a high chance of losing money if you default on the loan.

Your home secures a home equity loan, and if you default on it you can lose your home.

CON (reasons for not signing) • If you default on the loan, you'll lose the collateral PLUS you can be sued for a deficiency if the collateral is worth less than the balance on the loan.

The bad news is that if your government loans are in default, you lose a number of governmentally - provided rights on those loans.

That said, they often come with high closing costs, and if you default on the loan, you could lose your house.

Combining unsecured debt with secured debt means that if you default on the loan you could lose your home to foreclosure or your car to repossession.

If you default on home equity loans, you could be in danger of losing your home, just like on your first mortgage agreement.

If you default on your home equity loan payments, you risk losing your home.

Borrowers might default on a loan in which case, you would lose your total investment in that particular loan.

For example, a government - backed loan in default can subject the borrower to an administrative wage garnishment (that is, a garnishment without the creditor first obtaining a court judgment) of 15 % of disposable income, and this would be in addition to any state law garnishment by another creditor (under New York law, of several creditors have judgments against a debtor, only one at a time can garnish 10 % of wages, but a government student loan can be imposed on top of a state law garnishment.A borrower can also lose tax refunds if in default on a government student loan.

Of course, your lender would prefer that you just continue to pay your mortgage as agreed, but they stand to lose money if you default on your loan.

By allowing the bank to «reset» the rate, it avoids the chance that the borrower may default on the loan, which causes the bank to lose money.

If you default on a home equity loan, you could lose your home.

Created by the Federal Housing Administration, these loans are insured by this government agency, so that guarantees that lenders won't lose their money if borrowers default on their mortgage.

Defaulting on your loans and continuing to not make payments can lead to wage garnishment, collections, losing your ability to receive future federal aid, and more.

Any interest payments should be sheltered inside the RRSP (substantial benefit), but if the person defaults on the second mortgage (which you should expect to be a significant possibility), you've lost your entire $ 100,000 contribution room (as well as, obviously, the $ 100,000 that you loaned out).

If you default on loan repayment, you may lose your asset.

The main risk is defaulting on the loan and losing your home, as these are secured loans with your home as collateral.

However, if you default on the payments for the secured loan, you can lose the collateral.

You definitely do not want to default on a loan, as you will not only lose your collateral, but also damage your credit severely.

Mr. Gimein continues to use his flawed methodology to state that 54 % of loans with an interest rate of 18 % or greater have defaulted, leaving the impression that lenders on these loans have lost over half of the funds that they lent, and that losses ran roughly three times the interest rate on loans.

Bear Stearns averted a meltdown this time, but if delinquencies and defaults on subprime loans surge, Wall Street firms, hedge funds and pension funds could be left holding billions of dollars in bonds and securities backed by loans that are quickly losing their value.

If you neglect to make the payments, and ultimately default on your loan, you are likely going to lose whatever you used as collateral, which will likely have been your home.

Simply put, if you default on the loan, you can lose your house.

Good credit borrowers will be less likely to lose their job or find themselves in a dire financial situation where they would default on a loan.

Readers are encouraged to take action steps such as finding long lost student loans that may have gone into default, discovering payment plans they can afford, consolidating loans when it makes sense to do so, saving money on eating out and groceries, improving credit scores, tweaking their debt - to - income ratios that's needed to buy a home, discussing their student loan and non-student loan debt with their significant others.

You'll risk facing the same problem down the road and, the worst case, you might lose your home if you default on the loan.