Sentences with phrase «than the value of the house»

What that means is that the lender legally can not collect from you or your heirs more than the value of the house at the time the loan is due and payable.

This means that the amount of money a couple owes on the house is greater than the value of the house itself.

Likewise, some 13 million homeowners are under water — meaning that their mortgages are larger than the value of their houses or condos.

Personally I think the size of your mortgage is a lot more relevant for retirement planning than the value of the house.

However, as stated above, with a reverse mortgage, you will never owe more than the value of your house.

Your heirs and spouse are also protected by the FHA against owing more than the value of the house when it comes due.

The amount that can be borrowed is less than the value of the house, meaning that homeowners won't be able to access the full equity in their homes, despite having homes with higher appraised values.

Therefore, the replacement cost can be much lower than the value of your house in the current market if the prices are high in the region where u would like to buy your home.

The debt increases each month with interest on the loan, and in many cases fees to the servicer and an insurance payment to HUD, which guarantees to take over the debt from the lender when it grows bigger than the value of the house.

Your heirs and spouse are also protected by the FHA against owing more than the value of the house when it comes due.

I'd be curious to understand what would happen if one were to inherit a house with a mortgage greater than the value of the house.

People are not being loaned more than the value of a house and that's the thing that really made things drop in the States.

This determines the property's worth, and it's important because lenders won't lend more than the value of the house.

The mortgage product comes with a loan - to - value ratio of 120 % which means consumers can borrower 20 % more than the value of the house being purchased.

God forbid, if that doesn't happen, they owe more than the value of the house, and they've become «upside down» on their loan.

BurkeyLoan, the Miami - based mortgage lender, announced a new mortgage product that enables a borrower to purchase a home and at the same time pay off their student loans.The mortgage product comes with a loan - to - value ratio of 120 % which means consumers can borrower 20 % more than the value of the house being purchased.

First, the house needs to be underwater, that is, the mortgage balance must be more than the value of the house.

I would be concerned about buying an expensive house at a low mortgage rate and then having prices fall and rates rise, because you will owe the bank more than the value of the house: a serious problem if you lose your job.

And more than 30 % of U.S. home owners held mortgages that were underwater, or greater than the value of their houses, the highest level in 75 years.

In another case recently — a distressing case of a widow in her nineties, whose husband borrowed a modest amount on the security of their home on terms that interest would roll up, being told she now has to repay the loan which has grown to be more than the value of the house; but the solicitor had built his case on the interest rate being higher than the Bank of England base rate and I had to tell him that this was permissible (and any lender would need to charge a margin).

if its already more than the value of the house, then your decision might be different.