Sentences with phrase «receive if the borrower defaults»

A secured loan is simply a loan with some collateral behind it that the lender will receive if the borrower defaults.

Not exact matches

«Those who have criticized low - down payment lending as excessively risky should know that if the past is a guide, only a narrow group of borrowers will receive these loans, and the overall impact on default rates is likely to be negligible.

Lenders will send the borrower a notice of default when the loan is at least 15 days in default, if the default is not corrected the borrower will then receive a statement of claim outlining the terms required to bring the mortgage into good standing.

If the borrower defaults, the assignment of the land contract gives the lender the right to receive payments from the buyer and to transfer the land contract to another buyer.

If the borrower defaults, the assignment of lease and rentals gives the lender the right to receive rents from the tenants and to transfer the leases to a subsequent purchaser of the property.

If the payment is not received within the specified time, send your buyer - borrower a letter informing him that he is in default and that you will commence foreclosure proceedings if the payment is not received within, say, five more dayIf the payment is not received within the specified time, send your buyer - borrower a letter informing him that he is in default and that you will commence foreclosure proceedings if the payment is not received within, say, five more dayif the payment is not received within, say, five more days.