Sentences with phrase «mortgage liens on the property»

A home loan results in a mortgage lien on your property's title, which secures the debt's repayment to the lender.

She and her husband / co-debtor borrowed $ 125,000, secured by a first - mortgage lien on the property, in 2004.

This calculation includes the balance of all mortgage liens on the property rather than the balance of a single loan.

In other words, Grandpa purposely didn't deal with the mortgage lien on the property as grandpa was in fact the mortgagee which by causing a default benefits his personal interest as the mortgagee by creating a barrier to reinstatement for lack of debt service and the excessive accrued interest.

If, however, the title examiner overlooked a judgment, tax, or mortgage lien on the property or failed to note it in the title exam, the buyer would be liable to pay the lien incurred by the previous owner.

Not exact matches

The bank will typically need to pay off any primary lien on the property, like a mortgage or home equity loan, before they can foreclose.

A HELOC is a second lien or mortgage on your property.

An equity loan is a second lien or mortgage on your property.

For a traditional mortgage, the lien on the property will be released once the mortgage is repaid.

If you can't make payments on the mortgage, your lender has the right to keep or foreclose the property (this is what is known as a lien).

(Bankruptcy does not, however, automatically eliminate mortgages and other liens on your property without payment.)

A» secured» creditor has taken a mortgage or other lien on property as collateral for the loan.

Bankruptcy will not normally wipe out: (1) money owed for child support or alimony, fines, and some taxes; (2) debts not listed on your bankruptcy petition; (3) loans you got by knowingly giving false information to a creditor, who reasonably relied on it in making you the loan; (4) debts resulting from «willful and malicious» harm; (5) student loans owed to a school or government body, except if the court decides that payment would be an undue hardship; (6) mortgages and other liens which are not paid in the bankruptcy case (but bankruptcy will wipe out your obligation to pay any additional money if the property is taken back by the creditor).

This means that you count your exemptions against the full value of the property minus any money that you owe on mortgages or liens.

And, unless you have an acceptable plan to catch up on your debt under Chapter 13, bankruptcy usually does not allow you to keep property when your creditor has an unpaid mortgage or security lien on it.

Lenders first use reverse mortgage loan proceeds to pay off existing mortgages and liens on the property, after which borrowers may use the rest of the funds in almost any way they wish.

The deed of trust — also called a «mortgage» or «lien» — states that the home may be used as «collateral» for repayment of the loan; in the event of payment default, the lender is able to foreclose on the property, sell it, and retain the proceeds to satisfy the debt in question.

This might sound nuts, but there are cases where taxes and liens on a property, combined with the outstanding mortgage and taxes, mean there isn't enough money in the deceased's life insurance policy or savings and investments to cover the difference.

Months or even years after a reno is complete, «the homeowner will try to renegotiate his mortgage and the bank will inform him there's a lien on his property.»

The mortgage will be a lien on the subject property, so adding additional collateral does not help unless the mortgage is underwater.

Now if your parents are listed on the mortgage or somehow have a lien on the house, you have a bigger issue as they technically own (or at least have an interest in) part of the property and when you decide to sell the house you would have to involve them.

ninety LTV Refinance Analyzed top rated list of Refinance Loan companies from Evaluations If you wish to determine how much lendable collateral you have in your house based on a loan to worth all you have to get it done take your property value, multiply this by the personal loan to worth (the percentage you need to borrow) then subtract any kind of mortgages owing against the property and also residence tax or some other liens / encumbrances.

Balance owed on all liens attached to the property including all mortgages as well as any home equity loans or lines of credit.

You can also ask the seller if they will write up a mortgage on the property for you if the property has no liens, judgments or current mortgage on that particular piece of real estate.

If a loans meets the following tests, it is covered under the law: 1) For a first - lien loan otherwise referred to as the original mortgage on the property - the Annual Percentage Rate (APR) exceeds by more than 8 percentage points compared against the rates on Treasury securities of comparable maturity; 2) For a second - lien loan otherwise referred to as a 2nd mortgage - the APR (Annual Percentage Rate) exceeds by more than 10 percentage points compared to the rates in Treasury securities of comparable maturity; or the total points and fees payable by the borrower at or before closing exceed the larger of $ 561 or 8 % of the total loan amount.

Also you know that unless you have a plan that is approved to catch up on your debt under a Chapter Thirteen, then the bankruptcy will not usually allow you to keep property when your creditor has an unpaid security lien or mortgage on it.

If you can't make payments on the mortgage, your lender has the right to keep or foreclose the property (this is what is known as a lien).

In other words, with a Home Equity Loan or HELOC, you will have two mortgages on your property; in all likelihood, it will have a higher interest rate than your first mortgage due to the fact that it will be held in a second lien position against the property.

The bonds are mortgage - backed so if CSI reneges on its commitments, the property will be sold with bondholders getting a cut of the proceeds after all other lien - holders (like the bank and city) are paid off.

The Mortgage is a lien on the real property that gives the lender the right to take the property by foreclosure if you default on the loan.

For instance, lenders view builders liens and property tax liens as an additional mortgage on the property.

A lien is filed on the property; however the note carries no interest and is due when you pay off the mortgage or when you sell the house.

After the loan is closed, the title company will prepare an ALTA (American Land Title Association) title policy that reflects the new mortgage loan as a lien on the property.

Secured creditors are creditors who have taken some measure to protect themselves and hold a mortgage, pledge, lien or similar instrument on, or against, your property.

«Lien stripping» (elimination of mortgages) means that upon successful completion of your Chapter 13 the mortgage company will have to remove the junior mortgage (s) from your property and the arrears on the mortgage (s) don not have to be paid back.

If there is a creditor who holds a second mortgage on a property and has not filed a lien, there is the likelihood that a bankruptcy court will require the creditor to file a proof of claim, and the debt will be treated like an unsecured claim.

(1) The following shall be exempt from the Credit Services Organization Act: (a) A person authorized to make loans or extensions of credit under the laws of this state or the United States who is subject to regulation and supervision by this state or the United States or a lender approved by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act, 12 U.S.C. 1701 et seq.; (b) A bank or savings and loan association whose deposit or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or a subsidiary of such a bank or savings and loan association; (c) A credit union doing business in this state; (d) A nonprofit organization exempt from taxation under section 501 (c)(3) of the Internal Revenue Code; (e) A person licensed as a real estate broker or salesperson under the Nebraska Real Estate License Act acting within the course and scope of that license; (f) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney; (g) A broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (h) A consumer reporting agency; (i) A person whose primary business is making loans secured by liens on real property; (j) A person, firm, corporation, or association licensed as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69 - 1217.

Liens — in some cases a creditor may have placed a lien on your property which may prevent you from renewing your present mortgage, some common types of liens are from builders or unpaid property tLiens — in some cases a creditor may have placed a lien on your property which may prevent you from renewing your present mortgage, some common types of liens are from builders or unpaid property tliens are from builders or unpaid property taxes.

Court - ordered judgments do have to be repaid before you can get an FHA mortgage in most cases, because in many states a successful plaintiff can place a lien on your property if you fail to make good on a judgment.

Refinancing just the primary mortgage automatically makes the home equity loan a lien on the property.

Liens against collateral used to secure debt, like car loans and home mortgages, will not be discharged, and that property can be repossessed or foreclosed on unless you continue to make payments or are able to reach a new agreement with your lender.

A deed which conveys not only all the grantor's interests in and title to the property to the grantee, but also warrants that if the title is defective or has a «cloud» on it (such as mortgage claims, tax liens, title claims, judgments, or mechanic's liens against it) the grantee may hold the grantor liable.

Once a tax lien is registered on your property is works like a mortgage.

The bank will typically need to pay off any primary lien on the property, like a mortgage or home equity loan, before they can foreclose.

Fixed - rate reverse mortgages give borrowers a one - time, «lump - sum» payment at closing of all of their loan proceeds, after the payoff of any mortgages or liens on their property.

If the fair market value of a property is less than the amount owed on a first - priority mortgage, a Chapter 13 debtor may be able to remove additional mortgage liens through a process known as «lien stripping.»

A refinance is a first lien or mortgage on your property.

An equity loan is a second lien or mortgage on your property.

Having equity means the market value of your home is greater than the outstanding balance of all liens on the property — that is, your mortgage loan, any second mortgage or home equity loans, plus other liens, such as tax liens or Homeowners Association dues.

Social Security number verification A copy of the deed to the property Information on any existing mortgages and / or liens Counseling certificate