Sentences with phrase «placed on the borrower»

This comment was made in an effort to justify recent increased restrictions placed on borrowers taking out insured mortgages Read More

In addition, a breach or default of court judgment can be placed on the borrower's credit record.

Double - wide mobile home units placed on the borrower's land are treated like a conventional residential mortgage loan.

And these days, more emphasis is placed on the borrower's ability to bring in a significant down payment.

Not exact matches

Many borrowers place minimum loan payments on auto - pay.

This raises the initial cost of a mortgage — a potential problem for borrowers whose smaller down payments are forcing them to take on mortgage insurance in the first place.

There is no prediction that can be made as to what will take place with any of the student loan forgiveness programs, but borrowers should be aware that any or all of these benefits may disappear in the future, leaving the responsibility to repay student loans fully on their shoulders.

Lenders may also place liens on the borrower's assets, meaning that the borrower can not sell the assets without paying the lender first.

The exception is for borrowers who enroll at an eligible college or career school, as their loans are typically placed on automatic deferment.

However, borrowers do have a few more protections in place in case of default on a federal student loan:

The agency is mainly focusing on metro areas with the highest numbers of eligible borrowers — places like Atlanta, Detroit and Miami.

Since lenders tend to charge higher interest rates to borrowers who break the 36 % rule, you'll probably end up spending more on interest if you go for a house that places you beyond that limit.

The problem for the roughly 2 million borrowers the bank forcibly placed insurance on since 2005, is that hundreds of thousands were unnecessary, according to the bank's own audits.

«The risk is quite high that you're facing because you are dealing with depositors» funds but you don't know who they (borrowers) are, and you don't know where they live, so we (government) basically said you need to at least put these fundamentals in place before you can really expect a sustainable decline in interest rates that can be driven by proper risk assessment through credit rating agencies and so on.

We base our loan approvals on the equity in the property in question, without placing too much emphasis on low credit or experiences in a borrower's past.

The borrower should be a member of the credit union to qualify for this program and still depends on the borrower's location of their home, company where you work, and place of worship.

The agency is mainly focusing on metro areas with the highest numbers of eligible borrowers — places like Atlanta, Detroit and Miami.

When a borrower takes out any type of home equity or mortgage loan, a lien is placed on the home as collateral.

If you would like for your federal student loans to be placed in forbearance and for collections on your loan to stop until your application is reviewed and processed, please select that option within your borrower defense application.

In the event that the borrower defaults on the loan, the co-signer will basically be taking the place of the borrower by making the monthly payments or by paying off the loan completely.

As used in this paragraph, a «Covered Borrower» means any person who, at the time such person becomes obligated on a loan transaction or establishes an account for consumer credit, satisfies the requirements under any one or more of the following classifications, or is otherwise under applicable laws deemed to be a «Covered Borrower» under the Military Lending Act, 10 U.S. Code Section 987: (a) An active duty member of the Army, Navy, Marine Corps, Air Force or Coast Guard, or a person serving on active Guard and Reserve duty (a person described in this clause (a) of the definition of «Covered Borrower» is hereinafter referred to as a «Service Member»); or (b) Any of the following persons, relative to a Service Member: (1) The spouse; (2) A child under the age of 21; or (3) If dependent on the Service Member for more than one half of such person's support, any one or more of the following persons: (i) A child under the age of 23 enrolled in a full time course of study at an institution of higher learning; (ii) A child of any age incapable of self support due to a mental or physical incapacity that occurred before attaining age 23 while such person was dependent on the Service Member; (iii) Any unmarried person placed in legal custody of the Service Member who resides with such Service Member unless separated by military service or to receive institutional care or under other circumstances covered by Regulation; or (iv) A parent or parent - in - law residing in the Service Member's household.

And given that repayment in full is between 30 days and 90 days, and comes directly from their paycheck, that places a lot of pressure on the borrower to meet normal monthly expenses too.

That co-signer is placing a lot of trust in the borrower to make the payments on time, because the borrower's financial actions will directly affect the co-signer's credit as well as their own.

Borrowers who catch the problem on time still end up in most cases placed in forbearances which can lead to capitalization of interest or delays in public service forgiveness time periods.

All borrowers listed on an application must visit a local branch to apply, and approval can take place in as little as one business day.

Our clients frequently find that the consolidation servicer does not consolidate the loans listed on the application, repeatedly asks borrowers to submit information they have already supplied, and places borrowers in the wrong payment plans.

Of course, loans that are unsecured carry with them a greater risk than their secured alternative, but they are generally the only form of financing on offer since, for the borrower, the previous debt would probably have been repaid had they anything to use as collateral in the first place.

From private student loans to mortgages, the cost of the debt doesn't place a financial strain on the borrower, which helps them pay off the debt quickly.

The borrowing limits that are placed on unsecured loans vary greatly from borrower to borrower.

There are no IRS rules in place for this situation and in a sense, the borrower may be paying for the same amount on the 10 - year plan.

However, today all HECM reverse mortgages are heavily regulated and there are many protections in place to help prevent borrowers from defaulting on their reverse mortgage.

In fact, a disturbing trend of older borrowers having an offset placed on their Social Security payments for old student debt is on the rise, according to the US Government Accountability Office.

More weight is placed on educational background or future endeavors, experience at work, current and future income, and other ancillary financial behaviors to evaluate the credit risk a borrower poses to Stilt.

By completing and submitting a borrower defense application, you may have all of your federal student loans in repayment placed into forbearance status and have debt collections on any federal student loans in default stopped («stopped collections status») while ED reviews your application.

Loan - level credit enhancement can facilitate low down payment lending to creditworthy borrowers, especially when placed on mortgage loans before they are guaranteed by the federal government.

Today, large balance borrowers are increasingly likely to be parents and independent undergraduate borrowers — the government places lower limits on the loans that undergraduate borrowers who are dependents can take — whose economic outlook tends to be riskier and whose rising debts consume a larger share of their income.

Offers a less expensive way for borrowers who don't plan on living in one place for very long to buy a house.

Matthew Chingos recently published a Brookings paper proposing to significantly lower interest rates on student loans while assessing student borrowers a fee that would be placed in a «guarantee fund» to cover student loan defaults.

Here are five of the top places to get a personal loan online that are listed on Credible, where borrowers» information will never be shared with lenders until they select an offer:

If they don't have a good loan department, or their rates don't seem competitive based on what other places are advertising, some borrowers move on to other lenders or even a broker.

«The only anomaly we found was that higher TPR levels actually resulted in higher auto and mortgage delinquencies for subprime and near - prime mortgage borrowers, but we attribute this performance to the mortgage crisis and its impact on the payment hierarchy — many consumers facing foreclosure placed a higher emphasis on paying off their credit cards,» added Becker.

The lender requests that the borrower agrees to allow it to place a lien on the vehicle.

WaMu pressed sales agents to approve loans while placing less emphasis on borrowers» incomes and assets.

Poor credit can mean few to no chances of getting approved for a loan, and fair credit can place prospective borrowers on the cusp of approval and rejection.

The bidding is done online, with the borrower placing a proposal on a dedicated website.

Unlike loans for a car or house, personal loans are unsecured and not backed by collateral, so lenders place a lot of emphasis on credit scores for determining who they approve and the interest rate a borrower may receive.

BND places primary emphasis on a borrower's ability to repay a loan rather than upon the collateral pledged as security.

It also put guidelines in place that would make banks and lending institutions more transparent about their risk assessment of borrowers and encouraged new mechanisms to monitor and cut down on cases of identity fraud.

«There hasn't been anything communicated from the secretary that would change our ability to go forward,» he said, adding that his goal is «to make sure that we have the best contract in place that's focused on high - quality outcomes for students and borrowers.»

Cosigners should consider their relationship with the borrower; can it weather the potential stress that a binding financial contract may place on it?