Sentences with phrase «second lien holders»

► Fannie Mae and Freddie Mac will offer up to $ 6,000 to second lien holders to expedite a short sale: Previously, second lien holders could slow down the short sale process by negotiating for higher amounts.

The hang - up for many short sellers has been second liens, but the new government program gives first lien holders incentives to share and offers second lien holders and investors a $ 6,000 cash incentive.

-- Freddie Mac and Fannie Mae will offer up to $ 6,000 to second lien holders in order to quicken the pace of a short sale.

«Previously, second lien holders could slow down the short sale process by negotiating for higher amounts,» according to the FHFA.

As with the example above, mortgage lenders, mortgage insurance companies, second lien holders, and in the case of short sales, the new buyers have to agree to the terms of the loss mitigation program.

Until the conflict between first and second lien holders is resolved, loan modification efforts and mortgage write - down programs will likely be met with very limited success.

Many second lien holders were left with nothing.

I knew the second lien holder was holding out.

Here is what should be accomplished in a short sale: Borrower is released from all liens on property in the sale, some payoff may have to be made to first of second lien holder.

Guarantee does not apply to events beyond the control of Xceed, including appraised value, borrower / seller / third - party delays, outside second lien holder approval, short sale approval, lender conditions that can not be met by any party, or acts of God, i.e. inclement weather.

Not exact matches

A joint venture of the holders of Bon - Ton's 8.0 percent second lien secured notes due 2021, Great American Group LLC and Tiger Capital Group LLC will...

If there's any money remaining after the first lien holder gets paid, then the holder of the second lien gets paid.

Shares of Energy XXI Ltd (NASDAQ: EXXI) plummeted more than 75 percent early Thursday morning after the company announced that it and some of its subsidiaries have entered into a Restructuring Support Agreement (RSA) with holders of more than 63 percent of its secured second lien 11.0 percent notes...

The same case applies to the third mortgage holder if any, who must, in turn, wait for the first and second mortgage holders to be paid before they can claim a lien.

* Under certain conditions explained below, FHA will insure first mortgages where (1) the existing note holder writes off the amount of indebtedness that can not be refinanced into the FHA insured mortgage; or (2) either the FHA approved lender making the new mortgage or the existing note holder may take back a second lien that includes closing costs, arrearages or previous secondary financing if the indebtedness exceeds FHA prescribed LTV and maximum mortgage amount limits.

You can pretty much guess that a lot of lenders will not be thrilled with this notion, especially holders of second liens who are likely to lose much or all of their investment.

Usually, the first - position lien must be completely satisfied before the second - position lien holder can receive any remaining collateral.

Even the second lien - holder can initiate foreclosure.

Second and all subsequent lien holders must also approve a short sale, so even though it can still happen, it's a lot of extra work with more opportunities for a last - minute fall - through.

The holder of the second mortgage must agree to «subordinate» its lien to that of the new first mortgage lender.

If you simply want to refinance the first mortgage, your total housing debt shouldn't exceed 80 % of your home's market value, or else the holders of the second lien may refuse to resubordinate (agree to stand behind the first - mortgage holder for repayment if you default).

When the home is sold or foreclosure upon (in the case of a default), the first mortgage lien holder is paid first and the second mortgage lien holder is paid later.

If Countrywide is in a second position, ask that the first lien holder to get their attorney involved, this will speed up the process.

A second resident e-temp (valid for 30 days) may be issued if the permanent registration of the vehicle is delayed because the original tile is lost or because the lien holder has delayed in providing the original title.

Experience with different lenders will tell you, for example, whether the process will extend beyond your buyers» time frame or the holder of a second lien will stand in the way of the sale.

Holders of a junior deed of trust (second, third, etc.) should note that if the «wiped - out» junior lien is not purchase money or seller carryback, then the junior lien holder may sue on the note and the borrower on the junior loan may be personally liable.