Sentences with phrase «more than the value of your home»
In chapter 13, if your first mortgage amount is more than the value of the home, then you may be able to strip your junior mortgage.
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Due to the federal insurance protection offered by the FHA, you do not have to pay more than the value of the home when it is sold, even if your loan balance surpasses your home's value.
Fact: With a HECM loan, you do not owe more than the value of your home when sold.
With an FHA reverse mortgage you will never owe more than the value of your home, and your home is the only asset that can be used as collateral for the loan.
Even then, neither the senior or the senior's estate can be required to pay more than the value of the home.
You may even be able to borrow more than the value of your home.
You are never required to repay more than the value of the home at the time the reverse mortgage is paid off.
Further, a «non-recourse clause» is available for most reverse mortgages, which ensures you can't owe more than the value of your home when the loan is due.
Unlike a traditional loan, reverse mortgages are non-recourse, meaning that a borrower will never owe more than the value of their home — a comforting aspect of the loan in times when home values have declined.
If the loan balance is more than the value of the home, FHA insurance covers the remainder.
Additionally, all reverse mortgages are insured by the Federal Housing Administration (FHA) 4 and non-recourse, meaning the homeowner will never owe more than the value of the home loan.
But the borrower can never owe more than the value of the home because the lender and mortgage insurance, private or governmental, would have to absorb the difference.
You or your heirs will not be required to pay more than the value of your home at the time the loan is repaid; even if your loan balance exceeds the value of your home provided you or your heirs decide to sell the home.
Even if the amount you borrowed eventually exceeds the value of your home, you or your heirs will never owe more than the value of your home.
Furthermore, even though the borrower will never owe more than the value of that home, interest accrues throughout the life of the loan.
This means that the mortgage holders will never owe more than the value of the home, as that value is appraised as part of the reverse mortgage process.
This means that borrowers will never owe more than the value of the home, even if the loan balance ultimately exceeds the appraised value of the home.
In the case of the reverse home mortgage, a borrower would not be responsible for paying more than the value of the home.
Insurance for HECM reverse mortgages guarantees borrower funds if the lender goes out of business and ensures the borrower will never owe more than the value of the home when sold.
And even though you will never owe more than the value of your home when the loan becomes due (upon your death or when you no longer live in it), keep in mind that home values have the potential to increase over time.
WE ARE WORTH SO MUCH MORE than the value of our homes and our financial accounts.
Mortgage insurance guarantees the homeowner will continue to receive benefits no matter what happens to the lender, and it guarantees they will never owe more than the value of the home.
Lenders industrywide have said many borrowers who owe more than the value of their homes are abandoning the properties because they don't expect to recoup their losses.
While a traditional mortgage could result in the loss of the home for lack of payment, with a reverse mortgage the borrower can not borrow more than the value of the home, meaning Florida senior citizens can not lose their homes.
If the home sells for less than the owed balance, the estate is not required to pay more than the value of the home at the time the loan is repaid.
You or your heirs will not be required to pay more than the value of your home at the time the loan is repaid; even if your loan balance exceeds the value of your home provided you or your heirs decide to sell the home.
Unlike a traditional loan, reverse mortgages are non-recourse, meaning that a borrower will never owe more than the value of their home — a comforting aspect of the loan in times when home values have declined.
Fact: With a HECM loan, you do not owe more than the value of your home when sold.
Insurance for HECM reverse mortgages guarantees borrower funds if the lender goes out of business and ensures the borrower will never owe more than the value of the home when sold.
If the loan ends up amounting to more than the value of the home when sold, government insurance will cover the difference.
Due to the federal insurance protection offered by the FHA, you do not have to pay more than the value of the home when it is sold, even if your loan balance surpasses your home's value.
Furthermore, the MIP guarantees that you will never owe more than the value of your home when the HECM must be repaid.
This means that you can never owe more than the value of your home at the time you or your heirs sell your home to repay your reverse mortgage.
False: You or your heirs will not be required to repay more than the value of your home at the time of sale to repay the loan even if your loan balance exceeds the sales proceeds.
The reason is that when home prices dropped, the value of the mortgage may be more than the value of the home.
With an FHA reverse mortgage you will never owe more than the value of your home, and your home is the only asset that can be used as collateral for the loan.
Mortgage insurance guarantees the homeowner will continue to receive benefits no matter what happens to the lender, and it guarantees they will never owe more than the value of the home.
NRMLA explains to consumers that borrowers never lose ownership of the home, that HECM closing costs are comparable to other FHA mortgages, that borrowers never owe more than the value of the home, that having a conventional mortgage doesn't automatically disqualify them from getting a reverse mortgage, and that reverse mortgages are not a loan of last resort.
And the FHA insurance guarantees borrowers that they will never owe more than the value of their home.
Look at what homes in the area are selling for and then realize that you won't get more than the value of the home so you should consider all offers that are reasonable.
Not exact matches
The region is home to about 450 public companies with a market value of more than $ 500 million by Goldman Sachs» estimates.
«When the housing market crashed, owners of the least valuable homes were especially hard hit, and lost more home value than homeowners at the upper end of the market,» Zillow senior economist Aaron Terrazas said in the report.
Since five years ago when it started, the Great Recession has hit the United States like a hurricane, erasing trillions of dollars of wealth, destroying more than 8 million jobs and eroding value from tens of thousands of homes.
The social giant collects much more information than that, which results in at least 600 targeting options including household income, level of education, home type, home value, home ownership status, household composition, parents of children with specific ages, newly engaged couples, new vehicle buyers, expats, a variety of buyer profiles, people who frequently buy online, frequent travelers, and much more.
«I've earned more from the increase in the value of my home than I have in my entire professional career as a writer,» Ricci says.
Whether it's the stability of our banks, the vastness of Alberta's oil sands, or the gravity - defying march of home values, Canadian markets and businesses have more international appeal — and demand more attention domestically — than ever before.
It reports $ 110 million of net income on $ 3 billion in revenue for the nine months ending Nov. 2, 2013, compared to $ 95 million in net income on $ 2.88 billion in revenue for the year - earlier period. www.michaels.com National Mentor Holdings, a Boston - based provider of home and community - based health services to children and adults with disabilities, is preparing to file for an IPO that could value the company at more than $ 1 billion, according to the Wall Street Journal.
The Kelleys say AmSouth Bank, which later merged with Regions, relied on an inflated appraisal of their home and knowingly assumed the risk that property values would fall, leaving the Kelleys» mortgage worth more than their home.
Property taxes paid also are relatively high because the median home value and tax rate are higher than in more than half of the states.
OSFI also proposed tightening some of the rules around conventional mortgages (i.e. where the buyer puts down more than 20 per cent of the home value).