Sentences with phrase «than the amount owed on»

If you only put 5 % down on a $ 450,000 home and prices dropped by 20 %, your home would be worth less than the amount you owed on the bank — and this could spell trouble when it came time to renew your mortgage.

Their current home loan is «underwater» (their home is worth less than the amount they owe on their mortgage).

With a short sale you may have the option to sell your home for less than the amount owed on your mortgage.

Lenders can take legal action to recoup money from the homeowner if a foreclosed home is sold for less than the amount owing on the mortgage.»

A short sale is defined as selling a property for less than the amount owed on the mortgage.

A short sale is accomplished when an offer is placed on your property that the lienholder (lender) agrees to accept, but is an amount less than the amount owed on the loan.

Some Chapter 13 debtors are able to strip their second lien, or eliminate it entirely, if the value of the home is less than the amount owed on the first trust deed.

You can lower your mortgage payment or you can obtain a «cash out» refinance which replaces your mortgage with a new home loan that is greater than the amount you owe on the house.

Where the current fair market value of your property is less than the amount you owe on your loan, the lender may agree to a short sale allowing your property to be sold for less than the amount of the loan balance.

If the fair market value of a property is less than the amount owed on a first - priority mortgage, a Chapter 13 debtor may be able to remove additional mortgage liens through a process known as «lien stripping.»

«Many current homeowners are effectively trapped in homes that are worth less than the amount owed on their mortgages,» the report determined.

So if the bank sells your home and gets less than the amount owing on the mortgage, then the borrower still has to keep paying the balance to the bank until it is fully paid off.

It means that the lender agrees to accept less than the amount owed on the account.

If it is sold for less than the amount owing on it, then you will be liable to repay that deficit to the company.

Be advised that offering to pay less than the amount owed on a tax debt can extend the statute of limitations for reporting the debt.

All the lien holders must agree to accept less than the amount owed on the debt in order for a short sale to go through.

In order to do so the value of your home must be less than the amount you owe on your first mortgage.

Depending on interest rates and when you die, the amount of money paid may be more or less than the amount you owe on your mortgage or loan

Gap coverage kicks in if the insurer declares your car a total loss, and the payout from the insurance company for the vehicle's actual cash value is less than the amount you owe on the car loan.

The main difference between gap insurance and CRA is that CRA will pay 20 % more than the ACV of your car, whether this exceeds or is less than the amount you owe on a vehicle.

A «short sale» is a home that sells for less than the amount owed on the property.

Traditional Short Sale A short sale occurs when your property is sold at a price lower than the amount you owe on the mortgage, and your lender agrees to the «short» payoff.

In a short sale, the lender accepts a price that's less than the amount you owe on the property.

This means if the house sells at auction for less than the amount owed on the loan, the lender can try to get the remainder from the borrower with a deficiency judgement.

And say your foreclosed home is now worth less than the amount you owed on your mortgage.

Not exact matches

If you withdraw less than the RMD amount, you may owe a 50 % penalty tax on the difference.

But the amount of the new loan will be higher than the balance you owe on the old mortgage, and you'll receive the difference in cash.

For homeowners who owe more on their mortgage than their house is worth, or whose mortgage amount is more than 80 % of their home value, HARP provides a way to switch into a more affordable loan.

Based on your financial situation you may be able to enter into 1) full pay installment agreement - where you will full pay the account over the life of the statute of limitations or a 2) a partial pay installment agreement - where you pay an amount less than what you owe the IRS over the life of the IRS» statute of limitations.

However, this may not be a viable option if you are behind on the payments on your existing car or your car is worth less than the amount that you owe.

In other words, you owe the 3.8 % tax on the amount by which your investment income exceeds the income thresholds, or, if your wages alone already are higher than the income thresholds, you'll owe tax on the lesser of net investment income or MAGI that exceeds the thresholds.

You may want to consider other options if you owe more than your annual income in the form of «bad» debt (e.g., high - interest credit cards or payday loans), you simply can not make minimum payments on time, or a debt management plan can't reduce your monthly debt payment to a manageable amount.

The amount of outstanding student indebtedness is stunning — $ 830 billion, slightly more than Americans owe in credit card debt, according to Mark Kantrowitz, publisher of FinAid.org, an information site on student finance issues.

They are in business and will not GIVE you a car, or pay off some huge amount YOU owe on a car which you probably shouldn't have bought to begin with, and I really never heard of ANY Dealership giving you MORE than your TRADE IN is worth according to Kelly Blue Book, so get over it.

The IRS owes you a refund if the amount on line 74 is larger than the amount on line 63.

«Your credit score is based on six factors, but two of them account for more than half of your score: amount owed at 30 percent, and payment history at 35 percent.»

If fact, settling for an amount less than owed can be more detrimental to your credit score than if you hadn't paid on the debt at all.

The additional money taken out of your paycheck to cover it probably won't be any more than a federal garnishment would be, and you'll stop accruing the higher interest amounts on the amount owed.

The good news is; there are other programs available to help you pay less than the full amount owed on each of your debts, and some programs even come with credit repair (Bad Credit & Good Credit OK).

The allowed amount is often significantly higher than the «patient owes» amount on your explanation of benefits.

For homeowners who owe more on their mortgage than their house is worth, or whose mortgage amount is more than 80 % of their home value, HARP provides a way to switch into a more affordable loan.

A cash - out refinance home loan is a refinance home loan with a higher loan amount than the money owed on the mortgage loan being refinanced.

If there is dispute over the amount of debt that was legitimately owed, is there any clean way to record the fact that one is willing to offer the amount that one agrees is owed if any when the agency commits in writing to agreeing that the debt was in fact paid in full [e.g. if a company mishandles a customer change of address such that the customer never receives a bill for $ 5.47 for the last few days of service, and only finds out about that last bill when a collection agency demands $ 95.47, a payment of $ 5.47 should show up as payment in full, rather than pennies on the dollar.]

When you sell investments at a higher price than what you paid for them, the capital gains are «realized» and you'll owe taxes on the amount of the profit.

Most financial institutions have no interest in sitting on foreclosures longer than necessary so they will often take an amount as close to the principle owed as possible.

Installment — have paid down on average 35 % of the original amount of the loan, in addition the average they usually owe less than $ 1200 on their non-mortgage accounts

Remember, when you settle a debt for less than you owe, you are usually required to pay regular income taxes on the forgiven amount.

Even if home prices stay the same, if you have a loan that includes negative amortization (when your monthly payment is less than the interest you owe, the unpaid interest is added to the amount you owe), you may owe more on your mortgage than you originally borrowed.

You can sometimes negotiate a lower payment or interest rate on the debt you owe, since creditors may be happier to be repaid in a stream of smaller payments than to wait for the full amount and worry it might never arrive.

Of course, these longer loans make financing an attractive proposition since the payments are so low, but what many buyers fail to realize is that the amount of interest paid on the loan coupled with the amount of time the buyer spends being upside down in their loans (owing more than the car is worth) makes these loans a costly option.