Sentences with phrase «obligations as a borrower»

For instance, increasing the amount you offer as a down payment can help demonstrate to mortgage lenders that you intend to follow through on your monthly obligations as a borrower.

Remember, a cosigner agrees to all the same obligations as a borrower, so cosigning a loan is a huge responsibility.

For instance, increasing the amount you offer as a down payment can help demonstrate to mortgage lenders that you intend to follow through on your monthly obligations as a borrower.

You should discuss all features of the loan program with your lender to make sure you fully understand your obligations as a borrower.

Not exact matches

As much as two - thirds of online lending portfolios that have been sold to the market in recent months contain consolidation loans, Pratt says, which essentially are loans desperate borrowers take out to get out of other loan obligationAs much as two - thirds of online lending portfolios that have been sold to the market in recent months contain consolidation loans, Pratt says, which essentially are loans desperate borrowers take out to get out of other loan obligationas two - thirds of online lending portfolios that have been sold to the market in recent months contain consolidation loans, Pratt says, which essentially are loans desperate borrowers take out to get out of other loan obligations.

As with other debt obligations, defaulting on a student loan will send a borrower's credit score plummeting, from which it can take years to recover.

Mortgage lenders must weigh the borrower's income and assets against (A) the expected mortgage payments; (B) other expenses relating to the mortgage, such as home insurance and property taxes; (C) payments for other loans associated with the property, such as a second mortgage; and (D) all other recurring debt obligations.

By acting as a partial guarantor or «co-signer» for the school's lease or loan payment obligations, IBBF is used to induce, leverage and partially secure funding from private capital investors and traditional banking sources (landlords and lenders) to provide a 100 percent financed facility at an affordable cost to the charter school borrower.

A direct loan [26] is a debt obligation involving the DOT as the lender and a non-Federal entity as the borrower.

Accordingly, borrowers will be required to covenant in the credit agreement to provide ongoing financial and project information not only during construction, but so long as any Bureau credit instrument is outstanding and / or until any debt obligation to the Federal Government is fully repaid.

Each borrower under a direct loan agreement executes a bond or note, as applicable, evidencing the obligation to repay the loan.

As with other debt obligations, defaulting on a student loan will send a borrower's credit score plummeting, from which it can take years to recover.

• Further explain a reverse mortgage • Tell you about reverse mortgage product options • Go over reverse mortgage costs, such as the total annual cost • Help you determine your borrower eligibility • Help you determine if you can afford a reverse mortgage • Help you determine if you can meet all financial obligations such as maintaining your taxes and insurance • Expose you to alternative options like tax deferral programs, grant money, financial assistance, etc. • Explain how your choice can impact your heirs and estate • Go over loan comparisons

Mortgage lenders require borrower escrow accounts in order to minimize the risk that you fall short of your financial obligations as a homeowner.

The FHA, says HUD, «does not have minimum credit score requirements, although past credit performance serves as the most useful guide in determining a borrower's attitude toward credit obligations and predicting a borrower's future actions.

Reasonableness of the income is a critical factor in the approval of the loan as is the borrower's ability to service the loan and all other obligations.

The purpose of this rule is to ensure that borrowers have the financial capability to fulfill their loan obligations, such as continuing to pay property taxes and home insurance.

As a consequence, the creditor will be able to stay in business and make profits from other borrowers with better credit scores since there is no obligation to charge more for the loan.

A reverse mortgage allows homeowners 62 and older to convert a portion of their home equity into usable funds without having to repay the loan for as long as the loan obligations are met.1 The fact that reverse mortgages do not require monthly mortgage payments2 often leaves potential borrowers with questions about when the loan -LSB-...]

The borrowers fail to abide by all loan terms, including remaining current on all property obligations such as paying real estate taxes and insurance and keeping up with home repairs.

By using your vehicle as collateral, borrowers must consent that their title can have a lien placed against it by the lender or have their vehicle repossessed for nonpayment and or failing to meet the lender's obligations.

As long as the borrowers continue living in the home as their primary residence and remain current on all loan obligations (including paying the taxes and insurance and keeping up home maintenance), the loan balance will not become due and payablAs long as the borrowers continue living in the home as their primary residence and remain current on all loan obligations (including paying the taxes and insurance and keeping up home maintenance), the loan balance will not become due and payablas the borrowers continue living in the home as their primary residence and remain current on all loan obligations (including paying the taxes and insurance and keeping up home maintenance), the loan balance will not become due and payablas their primary residence and remain current on all loan obligations (including paying the taxes and insurance and keeping up home maintenance), the loan balance will not become due and payable.

Reverse mortgages do not require monthly payments and do not become due until the last borrower no longer occupies the home as their primary residence or fails to meet the loan obligations.5 Retirees may be able to improve their monthly cash flow and live a more comfortable lifestyle, by using a reverse mortgage to pay off their home or simply access their home equity to supplement their retirement income.

As with any home - secured loan, the borrower must meet their loan obligations: keeping current with property - related taxes, insurance, maintenance and any homeowners association fees; failure to pay these amounts may cause the loan to come due, may subject the property to a tax lien or other encumbrances, or may result in the loss of the home; 4.

This type of mortgage allows homeowners 62 + years old to convert a portion of their home equity into usable funds without having to repay the loan for as long as the borrower continues to meet the loan obligations.1 As you evaluate this financing option consider -LSB-..as long as the borrower continues to meet the loan obligations.1 As you evaluate this financing option consider -LSB-..as the borrower continues to meet the loan obligations.1 As you evaluate this financing option consider -LSB-..As you evaluate this financing option consider -LSB-...]

The loan typically does not become due, as long as the borrower meets the loan obligations.

A reverse mortgage allows homeowners 62 and older to convert a portion of their home equity into usable funds without having to repay the loan for as long as the loan obligations are met.1 The fact that reverse mortgages do not require monthly mortgage payments2 often leaves potential borrowers with questions about when the loan needs to be repaid.

If you as a borrower would like to request help setting aside the funds for these obligations, your lender can withhold funds to cover these necessary responsibilities.

The loan obligations require the borrower to pay for their own homeowners» insurance, property taxes, and maintain their home in accordance with guidelines mandated by the Department of Housing and Urban Development.1 As long as these terms are met; monthly mortgage payments are not requireAs long as these terms are met; monthly mortgage payments are not requireas these terms are met; monthly mortgage payments are not required.

An account set up by a lender to which the borrower makes monthly payments for such obligations as real estate taxes, homeowners insurance, and private mortgage insurance.

While defaulted low - income borrowers may face EITC seizures of thousands of dollars in a single year, borrowers in good standing with the same amount of debt have notably lower payment obligations, potentially as low as $ 0 a month.

FHA does not have minimum credit score requirements, although past credit performance serves as the most useful guide in determining a borrower's attitude toward credit obligations and predicting a borrower's future actions.»

All monthly payment obligations of the borrowers, such as loans, credit card balances, line of credit, child support payments (not including mortgage loan payments).

It is critical... that borrowers who pursue rehabilitation understand that it can only be successfully completed once and, as such, may not be the most suitable option for borrowers who may not be able to continue to meet their monthly payment obligations once they return to current status.

A reverse mortgage becomes due when the borrower fails to meet the loan obligations or no longer occupies the home as their primary residence.

FHA insures that borrowers can live in their home as long as basic loan obligations are met (homeowner's insurance in force, property tax payments current and the home is maintained in good condition).

Borrowers must continue to meet ongoing property obligations such as homeowner's insurance and property tax payments.

The remainder comprises of CBLO or the collateralized borrowing and lending obligation that is a money market instrument that represents an obligation between a borrower and a lender as to the terms and conditions of the loan.

As far as Fannie Mae and Freddie Mac are concerned, extenuating circumstances are «nonrecurring events that are beyond the borrower's control that result in a sudden, significant, and prolonged reduction in income or a catastrophic increase in financial obligations.&raquAs far as Fannie Mae and Freddie Mac are concerned, extenuating circumstances are «nonrecurring events that are beyond the borrower's control that result in a sudden, significant, and prolonged reduction in income or a catastrophic increase in financial obligations.&raquas Fannie Mae and Freddie Mac are concerned, extenuating circumstances are «nonrecurring events that are beyond the borrower's control that result in a sudden, significant, and prolonged reduction in income or a catastrophic increase in financial obligations.»

An inability to meet obligations, hold a job, attend class, or pay basic bills on time can all act as signs that a borrower is irresponsible and may struggle to repay their refinanced student debt — leaving you liable.

A co-borrower's obligation on a loan are the same as all other borrowers.

But before you co-sign for anybody, 1) do understand the risks, 2) make sure the borrower knows what happens to your credit as a co-signer if she doesn't pay, and 3) ask whether there's a way for your obligation as co-signer to be removed after a certain portion of the debt has been repaid and maybe your friend builds a bit of a — stellar, right?

As rates rise, these borrowers, many of whom have adjustable - rate mortgages, find themselves unable to meet their debt obligations.

It shows specifically that as a borrower you take the terms of the agreement seriously and pay on an obligation according to those terms.

The law, which has attracted co-sponsors from both parties, would require private student lenders — among the biggest are Sallie Mae, Citigroup Inc. and Wells Fargo & Co. — to explain to students the co-signer obligations in the event a borrower dies, as well as insurance options for loans and the circumstances under which loans can be discharged — though it wouldn't require lenders to forgive loans.

- Have you considered what you will offer as collateral (the asset or assets that will be transferred to your lender if you can not meet your loan obligations) should your lender want loan security - Have you lined up a cosigner (someone who agrees to be liable for the debt if the borrower can not repay) should your lender request one?

Consolidating student loans allows borrowers to extend the length of loan repayment (in some cases), reduce monthly obligations to a single payment, and retain all the benefits of Federal loans (such as income - driven repayment plans).

Freddie Mac considers an extenuating circumstance to be a nonrecurring or isolated circumstance, or set of circumstances, that was beyond the borrower's control and that significantly reduced income and / or increased expenses and rendered the borrower unable to repay obligations as agreed, resulting in significant adverse or derogatory credit information.

The letter must support the claims of extenuating circumstances; confirm the nature of the event that led to the bankruptcy or «foreclosure - related action» (also known as a short sale in Fannie Mae terminology), and illustrate the borrower had no reasonable options other than to default on his or her financial obligations.

Mortgage lenders view a lower monthly payment as a good thing for borrowers because it means they are less likely to get in over their head when a mortgage payment is added to the list of financial obligations.