Sentences with phrase «on junior mortgages»

Several times each year, we shockingly watch inexperienced real estate investors come to the foreclosure auction and bid on a junior mortgage which they mistakenly think is a senior mortgage.

Not exact matches

Madison is a Junior Research Analyst at ValuePenguin and focuses on mortgages.

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.

«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.

Consumers are able to get caught up on delinquent mortgage payments and eliminate their junior mortgages upon the completion of their Chapter 11 plan.

In Chapter 11 consumer bankruptcy, the clients typically are able to keep their homes, eliminate their junior mortgages (i.e. 2nd, 3rd, and 4th mortgages) entirely, and even reduce the amount owed on other secured debts.

Your lender may require you to certify that there are no junior liens (such as a second mortgage) on your home.

For most individuals and families, eliminating their junior mortgages and creating an affordable three - to - five year repayment plan on their debt is better than anything possibly achieved through a loan modification.

Co-signers on your loans are protected, tax interest and penalties stop, and you can also remove junior mortgages on real estate.

Plus, there is a little known provision in chapter 13 that could potentially remove any junior liens that are on your house (e.g., second mortgage, etc.).

«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) do not have to be paid back.

The agency helped more than 7,200 Californians buy their first home in 2016 with competitive interest rates on a first mortgage, and junior loans to help with down payment and closing costs.

-- Lehman Commercial Mortgage Conduit Limited v Northern Rock (Asset Management) PLC Instructed by Ashurst LLP (as junior to David Foxton QC) to act on behalf of a Northern Rock entity in its defence of claims against it by a Lehman Brothers entity arising out of the sale by Northern Rock to Lehman brothers of a large portfolio of secured loans.

A short sale — where homeowners sell their property for less than they owe on their mortgage — is often the last resort for people who can't pay their mortgage and are facing foreclosure, explains Rachel Ivers, a junior agent at The Blake Team at Keller Williams in Aurora, CO..

There is an IRS lien on the property that is junior to the mortgage.