Sentences with phrase «second liens because»

They're often called second liens because in the event of foreclosure, they only get paid off after the primary mortgage has been satisfied - they're second in line in other words.

Not exact matches

But equity loan rates generally are one to two percentage points higher than rates on cash - out refinances because loans are a second lien — rather than a first — against your home.

Second Lien Modification (2MP) Program - Some homeowners struggle to make their monthly mortgage payments because they have a secondSecond Lien Modification (2MP) Program - Some homeowners struggle to make their monthly mortgage payments because they have a second lLien Modification (2MP) Program - Some homeowners struggle to make their monthly mortgage payments because they have a secondsecond lienlien.

HELOCs and HELOANs are also called «second mortgages» because their liens are «junior» to the lien held by the lender with the first mortgage.

If your current car still has a title loan with a remaining balance, you won't be able to get a second title loan because the lender, whether it be LoanMart or another company, has a lien on the title.

A refinance with cash out is an alternative to a home equity loan, also known as a «second mortgage,» because it's a lien on your home like your existing mortgage.

They are also referred to as second mortgages, because they are used once you actually own the house, and also because the HEL will occupy a second - lien position behind the first mortgage.

Even when a property is resold quickly, or refinanced within a short period of time from the original purchase or most recent refinance, a new title search and title policy are needed because the owner could have taken actions that had an impact on his claim to the title, such as taking out a second mortgage or incurred a lien from unpaid taxes.

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.

I have represented many whose second lien positions evaporated because they couldn't cure the first, and foreclosure sales are often not for FMV.

Fortunately, we were able to build and eventually thrive as a second - lien business in a down market because of that.