Sentences with phrase «other liens on the property»

(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.

There are also 2 other liens on the property so they are under water too.

But there can also be other liens on the property in addition to the VA loan.

Research You should have a preliminary title search done to determine if there is a second mortgage or any other liens on the property.

Home equity is the difference between your home's fair market value and the outstanding balances of all the loans and other liens on your property.

Say you have a home that appraises at $ 300,000, you still owe $ 100,000 and don't have any other liens on your property.

Home equity is the difference between the current market (appraised) value of your home and the outstanding balance of your mortgage and all other liens on the property.

You may be able to strip second mortgages, nonconsensual judgments and other liens on your property through bankruptcy.

There are also 2 other liens on the property so they are under water too.

Another key is the loan's position compared with other liens on the property.

There are no other liens on the property.

Not exact matches

Our revolving credit facilities provide our lenders with first - priority liens against substantially all of our assets, including our intellectual property, and contain financial covenants and other restrictions on our actions, which could limit our operational flexibility and otherwise adversely affect our financial condition.

The City's Department of Finance has been sending lien sale letters to many property owners who are behind on their property taxes, water and sewer bills or other property charges.

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).

After all, new liens on the property or other issues may have come into the picture since the first time this search was conducted.

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.

This situation is sometimes also called lien priming, because there is usually a lien or other restriction placed on the property or collateral that is used to secure the loan or debt.

The difference between the IRS and other creditors is that the IRS doesn't have to go through the courts to garnish your wages, attach your bank account, or put a lien on your property.

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.

With a judgment against you in hand, whether it is the original creditor or a collection agency, they can potentially garnish your wages, place liens on your property, or take other legal steps to obtain the money you own to them.

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.

Tax liens may be imposed for delinquent taxes owed on real property or personal property, or as a result of failure to pay income taxes or other taxes.

When a chapter 11 debtor needs operating capital, it may be able to obtain it from a lender by giving the lender a court - approved «superpriority» over other unsecured creditors or a lien on property of the estate.

Loans for which the borrower gives the lender a lien on property such as an automobile, boat, other personal property or real estate that will serve as collateral for the loan.

It also certifies that the property is free of any easements, liens, or other encumbrances on ownership.

For example, they can garnish wages, garnish money which is due the payor from the government of Canada, suspend a driver's licence or other licence, place a lien on property, and other things can be done to enforce payment.

When the noncustodial parent refuses to pay, states can also place liens on the noncustodial parent's real estate or other property, suspend or revoke his driver's, professional or recreational licenses, seize his tax refund and bank account or intercept his government benefit payments.

The way that the proceeds of the sale of the home are divided depends on the mortgage debt, any other liens on the home (e.g. for unpaid property taxes), and the terms of divorce.

The Buyer must receive, on or before this deadline, true copies of all existing surveys in the Seller's possession pertaining to the Property and must disclose to Buyer all easements, liens or other title matters not shown by public records, of which the Seller has actual knowledge.

Then some of the other letters I did not mention anything about the liens or pre-foreclosures I saw on their property.

To help address solar panel financing issues, some states and state REALTOR ® associations have begun adding questions to their property condition disclosure forms to require sellers to disclose the presence of solar panels as well as other information, such as liens on the property or whether the panels were financed through a PACE - type program.

As I began preparing my listing presentation, I went into autopilot doing my due diligence as I would with any other listing presentation: inquiring about the sellers» financial situation and motivation for selling, researching for liens on the property, getting a general condition of the home and what is necessary to get it into «show shape,» and securing relevant comps for the market analysis, to name a few.

Here is a clause to assist you in making sure the seller does not remove anything that the buyer is expecting to receive on closing: «The seller represents and warrants that all existing flooring and floor coverings, drapery tracks, ceiling fans and fixtures, built - in appliances, bathroom mirror (s), heating - ventilating - air conditioning equipment, central vac and accessories and all other items secured by means of nails, screws, plumbing, wiring, ducting and related accessories that are now on the property are to be included in the purchase price except items which are leased or rented and those specifically listed herein and all shall be in working order and free from all liens and encumbrances on completion.»

In other words, if the Seller owned a $ 50,000 property free and clear and then sold it to the Purchaser who made a $ 10,000 down payment, the Seller initially has the right to collect $ 40,000 (his or her remaining equity in the property) and he or she may borrow money by allowing a lender to put a senior lien on the property (ahead of the Purchaser's interest in the property) for up to $ 40,000.

City records show that one in five of these liens on properties is for unpaid taxes or other municipal bills amounting to $ 1,000 or less!

Title Search - A detailed examination of the ownership documents to identify the owner and any liens or other encumbrances on the property.

The loan also becomes due and payable (and the property may be subject to a tax lien, other encumbrance, or foreclosure) when the last borrower dies, sells the home, permanently moves out, defaults on taxes, insurance payments, or maintenance, or does not otherwise comply with the loan terms.

This means they will be searching the property's title history to make sure it's clear of any defects, such as other claims or liens on the property.

To ensure there are no other rights of ownership, claims or liens on the home you're purchasing, a title company will perform a title search to determine that the seller has the legal right to be selling the property.

The loan also becomes due and payable (and the property may be subject to a tax lien, other encumbrance, or foreclosure) when the last borrower, or eligible non-borrowing surviving spouse, dies, sells the home, permanently moves out, defaults on taxes, insurance payments, or maintenance, or does not otherwise comply with the loan terms.

The data would then be posted on the Portland Maps system, a searchable city database that also lists property tax, sales price, liens, building improvements and other data on all properties within the city.

Responsibilities: • Negotiating, writing and executing real estate investment agreements as well as contracts on behalf of the company • Offering counsel on a variety of legal issues • Advising executives within the company • Working alongside other departments within the company • Advising on contract status, business risks and risk mitigation strategies, and the legal liabilities associated with different real estate related deals including but not limited to: the evaluation of existing property special assessments, restrictions, zoning issues, building codes, lien releases, ADA, etc.) • Conduct title and survey review and perform due diligence on prospective loan deals; prepare and review contracts, and coordinate closings • Researching and anticipating unique legal issues that could impact the company • Reviewing advertising and marketing materials to ensure that they are in compliance with legal requirements • Manage real estate disputes including litigation • Providing training to the company on legal topics • Performing other duties as required or assigned

But before that can happen, the lender needs to make sure there are no other previous liens on the property that would take priority over the lender's filing.

In other words, the borrower (mortgagor) gives the lender (mortgagee) a lien on the property, which serves as collateral for the loan.

If you do not intend to keep the property and your title is clear of other liens, we may (based on requirements set by the owner of your loan) be able to accept the deed to the property and forgive your debt, even if the property is worth less than the balance that you owe.

False: A reverse mortgage loan functions like any other mortgage with a lien placed on the property.

Funds that can be verified as the borrower's own, the source of which can be: (a) monies from borrower's checking or savings account, or other similar time deposit account, which have been on deposit in the account for at least 2 months prior to loan application, (b) cash up to $ 1,000, (c) cash deposit towards property purchase, and (d) the market value of the lot owned by borrower, exclusive of any liens, on which the SONYMA financed home was or will be constructed, or the purchase price of the lot if it was purchased in the past 2 years, whichever is less.

-- including a lien on the stock of a cooperative housing corporation (a «co-op»)-- no lender can enforce its due - on - sale clause due to any of the following prevalent circumstances: (1) The creation of a lien (or other encumbrance subordinate to the lender's security instrument) that does not relate to a transfer of rights of occupancy in the property; (2) The creation of a purchase money security interest for household appliances; (3) A transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety; (4) The granting of a leasehold interest of three years or less * not containing an option to purchase (5) A transfer to a relative resulting from the death of a borrower; (6) A transfer where the spouse or children of the borrower would become owners of the property; (7) A transfer resulting from a decree of dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property (8) A transfer of the borrower's property into an inter vivos trust in which the borrower is and remains a beneficiary and which [trust agreement] does not relate to a transfer of rights of occupancy in the property; or (9) Any other transfer or disposition described in regulations prescribed by the Federal Home Loan Bank Board.