Sentences with phrase «repossession occurs»

Property repossession occurs for a variety of reasons such as homeowner downsizing due to loss of job, unexpected medical emergencies that drain their funds or inability to pay a mortgage with variable monthly payments.

It is in the best interests of all parties for a borrower to take immediate action to cure a loan default before repossession occurs.

Borrowers with late or outstanding payments will be notified before repossession occurs.

A wrongful repossession occurs is when the creditor either does not follow the proper procedures to repossess the property or if the creditor has no right to repossess the property in the first case.

However, possession orders do not inevitably lead to repossession occurring and can be abandoned at any time.

Not exact matches

Repossession Repossession occurs when a lender takes physical control of the collateral for a loan.

Reflects the previous history of the account, including any delinquencies or derogatory conditions occurring during the previous seven years (i.e., current account, delinquent 30, current was 60, redeemed repossession, charge - off — now paying, etc..)

Instead of allowing a repossession to occur, you can voluntarily surrender your car.

The facts upon which Judge Bates relied was committed outside the presence of the court, as it involves actions in the repossession and sale of marital assets which occurred in 2009, after the separation of the parties.