Sentences with phrase «stopped paying back the mortgage»

A Foreclosure is a action from a money lender when the borrower has stopped paying back the mortgage.

Not exact matches

«Eliot Spitzer has been our friend, standing up to the same powerful interests and backroom politicians supporting Stringer, fighting to get low - wage workers their back pay, fighting against fraudulent mortgage workers targeting our community, and investigating stop and frisk before anyone else,» according to Spitzer's spot.

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The mortgage provides security for the loan, meaning the lender can take back the home if you stop paying on the loan.

Annaly and American Capital Agency, for instance, invest in agency mortgage - backed securities, which come with an implicit guarantee against default — meaning if the borrowers stop paying, they are reimbursed for the difference.

If your house is over mortgaged, you can stop paying the mortgage and hand back the home to the secured lender for sale.

Also, this is not the most ethical thing, but I do know of one couple who stopped paying their mortgage for several months, knowing they were going to give the house back at the end.

The government agency that guarantees securities backed by FHA mortgage loans has responded to an NAR request saying it won't stop requiring borrowers to pay a month's worth of interest no matter when during the month the loan is paid off.

The mortgage provides security for the loan, meaning the lender can take back the home if you stop paying on the loan.

The downsides: It's a mortgage that can be foreclosed if you stop paying, and after the initial term runs out, you will have to pay back all of the outstanding money — with amortized interest within a shorter period than a traditional mortgage.

Also because they've stopped paying their mortgage they probably have back taxes and other liens as well.

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