Sentences with phrase «prior mortgage»

In some cases, a private lender can lose money if all the proceeds from the home sale go to prior mortgage holders.

This decision bears in mind the fact that after selling property prior mortgages must be cleared before the private bad credit mortgage lender can be compensated.

Bad credit mortgage lenders in North Bay make their profits from selling real estate so before giving out loans, they must make sure that a borrower has enough equity to guarantee them compensation after prior mortgages have been repaid in the event that you are unable to cover the debt.

LTV can be found by dividing the value of prior mortgages secured to a property by the selling price of the property.

The owner's title policy insures against loss or damages sustained by the owner by reason of historical discrepancies such as forgery, undisclosed but recorded prior mortgages, bankruptcies, liens or divorces, deeds not properly recorded, missing wills or heirs, and inadequate property descriptions.

Recognition of prior coverage — if your medical interview (where required) is not approved, Secure Start will provide life coverage as long as you've had mortgage life insurance on a prior mortgage.

The Ontario Mortgage Act dictates that prior mortgages on the property must be cleared before the private lender can make their claim.

If a lender sells a property they may reclaim their money after paying off the prior mortgages registered on the property.

Once the sale is complete, prior mortgages must be repaid before the private lenders can recoup their funds.

During the refinancing process, the existing mortgage is paid off by the opening of the new mortgage refinance loan, and the prior mortgage balance is carried over to the new loan.

And we have good FICO scores (and a prior mortgage in good standing, no less).

Which lenders offer new loans to those who've made this deal on a prior mortgage?

By selling a property, a private lender can reclaim their investment after all prior mortgages are paid.

After a property has been sold, the lender may take back their money once the prior mortgage holders are paid off.

On the other hand, failing to disclose a prior mortgage would obviously materially impair the very work entrusted to the solicitor namely ensuring that the expected mortgage is conveyed to the mortgage lender.

Such information may include arrears in a prior mortgage or tax arrears on the property.

Was the first member of July training class to graduate from pre-quality assurance despite being the only new hire with no prior mortgage experience

Buyers should be very careful with buying these properties because of various issues including, but not limited to, prior mortgages, HOA and Condo liens, municipal code violations, repair and structural issues, etc..

If the contract calls for a prior mortgage to be paid off, the coordinator will order payoff figures from the existing lender.

-- Borrower current at the time of short sale: A borrower is considered eligible for a new FHA - insured mortgage if, from the date of loan application for the new mortgage, all mortgage payments on the prior mortgage were made within the month due for the 12 - month period preceding the short sale, and installment debt payments for the same time period were also made within the month due.

«As a result of the changes in consumer behavior, lenders can not revert back to their prior mortgage underwriting policies.

As a result of the transaction, Sunrise has been released from its obligation to the prior mortgage lender to fund operating deficits.

Typical claims covered under the standard policy arise from undisclosed (but recorded) prior mortgages or liens; undisclosed (but recorded) easements or use restrictions; erroneous or inadequate legal descriptions; lack of a right of access; and deeds not properly recorded.