Sentences with phrase «of second liens»

With no principal reduction, the banks would have to write off many of those second liens.

You can pretty much guess that a lot of lenders will not be thrilled with this notion, especially holders of second liens who are likely to lose much or all of their investment.

If there's any money remaining after the first lien holder gets paid, then the holder of the second lien gets paid.

There are two distinct types of loans that can be taken out as part of a second lien: the Home Equity Line of Credit, and the Closed - End second.

If you simply want to refinance the first mortgage, your total housing debt shouldn't exceed 80 % of your home's market value, or else the holders of the second lien may refuse to resubordinate (agree to stand behind the first - mortgage holder for repayment if you default).

Here is what should be accomplished in a short sale: Borrower is released from all liens on property in the sale, some payoff may have to be made to first of second lien holder.

Experience with different lenders will tell you, for example, whether the process will extend beyond your buyers» time frame or the holder of a second lien will stand in the way of the sale.

CHF 3 % ACCESS Down Payment Assistance — CHF ACCESS offers 3 % down payment assistance in the form of a second lien.

Not exact matches

A joint venture of the holders of Bon - Ton's 8.0 percent second lien secured notes due 2021, Great American Group LLC and Tiger Capital Group LLC will...

We invest in countries around the world at all levels of the capital structure — from debt (first lien bank debt, second lien loans and high yield bonds) to undervalued equity.

It can sometimes be sensible, then, to shift a portion of the balance from your first lien to your new second mortgage to exploit this quirk in pricing.

PNC Business Credit is a leading provider of cash flow lending and second lien financing.

iPayment Holdings, Inc. and iPayment, Inc. in the exchange of $ 509 million of iPayment Holdings» 15.00 % / 15.00 % senior notes due 2018 and iPayment Inc.'s 10.25 % senior notes due 2018 for a combination of $ 296 million 9.5 % second lien notes due 2019 and iPayment common stock and warrants.

Shares of Energy XXI Ltd (NASDAQ: EXXI) plummeted more than 75 percent early Thursday morning after the company announced that it and some of its subsidiaries have entered into a Restructuring Support Agreement (RSA) with holders of more than 63 percent of its secured second lien 11.0 percent notes...

Catalyst # 2: De-risking: Continual reduction in structured finance exposures, declining claim payments on second - lien RMBS Catalyst # 3: Reimbursement for claims paid: Fairholme expects MBIA to recover at least half of the gross claims paid to date in a 2012 settlement or all in a 2013 trial.

Asked whether he would consider converting some of his second - lien notes to equity to lessen the company's debt burden, Conru said he is «currently investigating all options.»

With this plan, we aim to help homeowners avoid foreclosure by reducing or eliminating the principal balance of those in need of relief from a second mortgage lien they can no longer afford.

b) The sum of the existing first lien, any purchase money second mortgage and / or any junior liens over 12 months old, closing costs, prepaid expenses, accrued late charges, escrow shortages, borrower paid repairs required by the appraisal, discount points, prepaid penalties charged on a conventional loan and FHA Title 1 loans as determined by the appropriate HOC subtract any refund of refund of upfront MIP.

At the end of the plan, the unpaid balance would be discharged and the second mortgage lien would be released.

There are many other solutions offered, that are frequently adjusted to keep up with rapidly changing economy, such as financial incentives for people with good track of mortgage payments, foreclosure alternatives, second lien modifications, and so forth.

1) The Piggy - Back (a.k.a.: Concurrent Lien, First and Second Combo) Borrowers purchasing a home, are able to use a «piggy - back» their first mortgage in with a second mortgage to give them additional flexibility in the formation of their repaymentSecond Combo) Borrowers purchasing a home, are able to use a «piggy - back» their first mortgage in with a second mortgage to give them additional flexibility in the formation of their repaymentsecond mortgage to give them additional flexibility in the formation of their repayment plan.

FHA will permit the inclusion of the existing first lien, any purchase money second mortgage, closing costs, prepaid expenses, discount points, prepayment penalties, and late charges.

* Under certain conditions explained below, FHA will insure first mortgages where (1) the existing note holder writes off the amount of indebtedness that can not be refinanced into the FHA insured mortgage; or (2) either the FHA approved lender making the new mortgage or the existing note holder may take back a second lien that includes closing costs, arrearages or previous secondary financing if the indebtedness exceeds FHA prescribed LTV and maximum mortgage amount limits.

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.

While credit scores of borrowers are generally better than subprime, certain attributes are similar, such as the inclusion of stated income loans, reduced - documentation loans and second - lien mortgages, creating a layering of risks similar to subprime securities.

Benefits of Cash - Out Refinances include possibly lower rates and simpler terms since the cash out is provided on the loan in the first lien position on the home, and a second mortgage is not applicable.

In the event of a short sale or foreclosure, the first position lien gets paid off first, and then the subordinate (second / third / fourth / etc) position one.

Add in the articles about unused HELOC capacity getting terminated (happened to two friends of mine recently), and you can see how second - lien lending is shrinking at just the point that many would want it.

The subsequent chapter 13 bankruptcy eliminated the second mortgage lien, effectively wiping out any liability the debtor may have had on the second mortgage outside of his chapter 13 plan payments.

The down payment is in the form of a gift that you are not required to pay back and there will not be second liens or deed restrictions against your property.

For example - first lien + second lien / appraised value = LTV, or loan amount / purchase price of property = LTV.

Second and all subsequent lien holders must also approve a short sale, so even though it can still happen, it's a lot of extra work with more opportunities for a last - minute fall - through.

Its investment portfolio consists of senior secured first lien loans and senior secured second lien loans.

Just as second and third mortgage liens can be stripped from your home, the balance of a car loan can be reduced or «crammed down» to match the current market value of your car.

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.

Some Chapter 13 debtors are able to strip their second lien, or eliminate it entirely, if the value of the home is less than the amount owed on the first trust deed.

A cash out refinance loan may have a lien that is similar to a second mortgage and may need to be paid out in a certain order of value.

The holder of the second mortgage must agree to «subordinate» its lien to that of the new first mortgage lender.

With a second mortgage you can eliminate all of your debts including credit cards, car loans, student loans, liens, and other bills.

Regardless of the name, the loan is characterized by a second lien on your home.

A second lien is held on your property in the amount of the advance.

Your account is immediately brought current upon approval of Partial Claim (also called Second Lien Advance).

They're often called second liens because in the event of foreclosure, they only get paid off after the primary mortgage has been satisfied - they're second in line in other words.

Chapter 13 may also allow you to get rid of your second mortgage once and for all through a process known as «lien strip.»

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.

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.

FHA allows cash out refinancing with scores as low as 500, so if you may want to consider this type of loan if you were denied for a second mortgage lien recently.

As long as the title on your second vehicle is clear - and - free of any liens or holds, you should be able to use it for a car title loan.

Second lien debt is making up a larger portion of the borrowing base.

As with the example above, mortgage lenders, mortgage insurance companies, second lien holders, and in the case of short sales, the new buyers have to agree to the terms of the loss mitigation program.