Sentences with phrase «than borrowers owe»

A recent analysis from DataQuick shows that more than one - quarter of all homes in the San Diego region are worth less than the borrowers owe on their home loans.

Alternatively, some lenders may agree to short selling properties, meaning lenders accept less money than borrowers owe them to allow current owners to sell to new owners who can afford payments.

With a short sale, the borrower benefits because the bank takes less than the borrower owes on the mortgage.

Then the borrower accepts an offer to sell the property to a third - party buyer for less than the borrower owes to the bank.

Having to try to sell a house that is worth less than the borrower owes on it, especially in a market with declining values and longer market times could spell huge losses for the lender.

Not exact matches

(Borrowers typically end up paying a lower rate than is indicated here, owing to discounts and special offers, but it serves as a useful gauge.)

Nearly 44 million Americans owe more than $ 1.4 trillion in federal student loans and more than 4.2 million borrowers defaulted in 2016.

Many student borrowers have more than one loan, and many are unaware just what they owe to whom and what interest rates they're paying.

Seeing so many graduates overloaded with student loan debt, with 19 % of borrowers owing more than $ 50,000 upon graduation, can be pretty scary for parents and students alike.

But nearly one in four (24 percent) owed $ 50,000 or more, and close to one in 10 borrowers (8 percent) had more than $ 100,000 in student loans.

In 2016, the average student graduated from college with an outstanding balance of more than $ 37,000, but a staggering 2 million borrowers owe more than $ 100,000 in student loan debt.

Also, few private student loan borrowers provide an option to extend repayment to more than 15 years, regardless of the total amount owed.

The borrower must owe more than the home is worth but be current on mortgage payments and have sufficient income to make the refinance loan payments.

Rising home values have lifted more borrowers out of the hole of owing more than their properties are worth, an encouraging sign for an economy still closely tied to the health of the housing market.

But many borrowers can't afford the lump sum payment, so they roll over the original loan, plus the original fee plus a new fee, which is higher than the initial fee because the borrower owes both the principal plus that fee at this point.

The majority of this debt is in the form of federal student loans, offered by the Department of Education to borrowers in need.However, the amount owed in private student loans is growing as students are in more need of financing for their education than in years past.

No wonder the CFPB reports that more than 40 percent of student loan borrowers leave school owing $ 20,000 or more.

According to a recent report from the Consumer Financial Protection Bureau (CFPB), the percentage of student loan borrowers owing $ 20,000 or more at the start of repayment has more than doubled since 2002.

For that matter, how could a short sale, in which a borrower settles a debt for less than what was owed, not damage credit?

Also, it's good to note that while it was popular just prior to the financial crisis, the fact that borrowers sometimes owed more than their homes were worth and that default rates for piggyback loans were high after the housing bubble burst, nowadays it is more challenging to locate one.

About one - quarter of borrowers owe more than $ 28,000; about 10 percent of borrowers owe more than $ 54,000.

Being «upside down» on an auto loan means the borrower owes more money on the vehicle than its worth.

A short sale is an agreement between a lender and a borrower to accept less than what is owed on the mortgage as «paid in full.»

For an older used car, it's quite easy for borrowers to find themselves «upside - down» — meaning that they owe more on their loan than their car is currently worth.

17 groups, or 50 % of those reporting, cited «short sales» — where servicers minimize their losses by allowing homeowners to sell their property for less than the amount of money owed — as a «very common» outcome for borrowers.

Disadvantages: Borrowers who make extensive use of the minimum payment option could rapidly erode the equity of their homes and even end up owing more than the house is worth.

-- Sure this option let lenders just tack - on the late fees, financial charges and call it a modification loan — NOW the borrower owes more than what they started and their payments are higher.

If the loan debt surpasses the value of the home, the borrower will not owe more than the amount the home sells for.

About 167,000 people, or about one - half of one percent of all student - loan borrowers, owe more than $ 200,000, the New York Fed said in its report, which drew from Equifax credit data.

Unlike a traditional loan, reverse mortgages are non-recourse, meaning that a borrower will never owe more than the value of their home — a comforting aspect of the loan in times when home values have declined.

The student loan debt totals $ 1.4 trillion with the average borrower owing more than $ 34,000 in loans.

Today, more and more attention is being paid to the $ 1.1 trillion in outstanding student loans owed by more than 38 million American borrowers.

Brunner involved a $ 9,000 student loan, but today the average balance owed on student loans is $ 25,000, and twelve percent of borrowers now owe more than $ 50,000.

Borrowers from the Class of 2015 who attended a college or university in New York owe an average of $ 31,139, much higher than the national average of $ 28,400.

Professor Andrew Caplin of NYU and a co-author of the study, asserts that the FHA audit failed to consider the risks created by FHA borrowers who owed more on their mortgages than their homes were worth, and who were allowed to refinance to new FHA loans.

The income - driven repayment plans are based on your income rather than the amount you owe, thereby lowering payment requirements for low - income borrowers.

A qualified mortgage is one that is free from terms that can prove risky to borrowers, like loans that span more than 30 years or payment structures that allow the borrower to pay less interest than is actually owed (which causes the loan to be more expensive over the long run).

With the nation collectively owing more than $ 1.3 trillion in student loan debt, tons of cash strapped borrowers are having a tough time paying their loans.

This protects the borrower from owing on a loan that costs more than the house is worth when sold.

As the borrower doesn't make monthly payments, the owed amount gets larger over time, which can be larger than the money from the sale proceeds of the home to pay back the loan.

Fact: All of our products are non-recourse loans that are insured by the FHA, which means the borrower will never owe more than the home is worth.

But the borrower can never owe more than the value of the home because the lender and mortgage insurance, private or governmental, would have to absorb the difference.

These types of loans often leave borrowers underwater and owing more on their loan than their car is actually worth.

HARP is unique in that it is the only refinance program that enables borrowers who owe more than their home is worth to take advantage of low interest rates and other refinancing benefits.

As a result, over time the borrower would owe more than on the loan than what was originally borrowed.

Borrowers who owe more on their house than the house is worth will be able to reduce the balance owed much faster if they take advantage of today's low interest rates by shortening the term of their mortgage.

Essentially, Navient tells borrowers with delinquent accounts they needed to pay more than the outstanding amount owed by adding in next month's payment and calling it «present amount due.»

A cash - out refinance is when a borrower refinances their current mortgage for more than they owe in order to pull out the built up equity that has accrued in the home.

HUD will release the Federal Housing Administration's new Short Refinance program, which is designed to help facilitate mortgage refinancing by borrowers who are underwater, meaning they owe more on their mortgage than the home is worth.

The thinking is that borrowers with little home equity are only a job loss, illness or other unpredictable financial disaster away from not making a house payment and will abandon their home to foreclosure if they owe more than the home is worth.