Sentences with phrase «second loan holder»

Not exact matches

The holder of the second loan will have to agree to sign what is called a subordination agreement.

As a syndicated mortgage holder you are second in line, behind any bank loan against the project.

Banks are the primary holders of second loans, and understandably do not want to take massive losses by writing them down.

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.

Mortgage relief programs are primarily designed to assist homeowners who can not afford to make their mortgage payments due to financial hardship; FHA guidelines for a proposed «short refinance» program may allow borrowers to qualify for an FHA refinance to a lower mortgage amount but only if the mortgage lender and any second mortgage holders agree to write down their loan balances, So far, mortgage servicing companies and mortgage investors (the owners of mortgage loans) are reluctant to agree.

Can a policy holder avail a second loan on a policy (of course subject to 90 % of SV) before the earlier loan is fully repaid?

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.