Sentences with phrase «requires timely mortgage payments»
This arrangement requires timely mortgage payments on schedule, with an extra amount to rectify the delinquency in about 12 to 24 months.
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As long as your mortgage payment is not more than 30 days late, Section 6 of RESPA requires the lender to make escrow payments, for taxes, insurance, etc., in a timely manner.
Investors, or groups of them, that buy Fannie and Freddie mortgage - backed securities receive a guarantee that «we will supplement amounts received by the trust as required to permit timely payment of principal and interest,» according to Fannie Mae.