Sentences with phrase «to default on the mortgage»

Some — although by no means all — short sellers may also be in default on their mortgage loans and be headed for foreclosure.

Is your job to provide lenders with private mortgage insurance to protect them against great loss should their borrowers default on a mortgage?

Then, in 2010 the father fell into default on his mortgage payments, and his home was seized and sold by the bank.

The family is in default on their mortgage and we want to do a short sale to obtain their property.

First, I want to talk about the process that takes place when a homeowner defaults on a mortgage loan.

Private mortgage insurance protects the lender against any loss in the event of default on the mortgage loan.

It also protects lenders against loan default on mortgages for properties that include manufactured homes, single - family and multifamily properties, and some health - related facilities.

«After five years, very few people default on their mortgages,» he observes.

This insurance is required by law to insure lenders against default on mortgages with a loan to value ratio greater than 75 %.

Many people with poor credit end up going into default on their mortgage loans when they get money from their home by refinancing.

This insurance is required by law to insure lenders against default on mortgages with a High Ratio.

The lender can agree to honor the terms of the lease even if the landlord defaults on the mortgage, so long as the tenant remains current on their rental payments.

At the time, gigantic defaults on mortgage securities threatened to sink the B of A.

When the housing market began to crash, a startling number of people entered default on their mortgages.

It's understandable; defaults on mortgages hit a peak of 11 % in 2011.

Private mortgage insurance protects lenders in the case that borrowers default on their mortgage.

When the local economy is weak, more homeowners default on their mortgages.

This program provides mortgage insurance to protect lenders against the risk of default on mortgages to qualified buyers.

People stop making payments to banks when they are in default on their mortgage.

This could last for seven years from the date of default on the mortgage loan.

And now even so - called prime borrowers, the ones who were properly vetted, are being sucked into defaults on their mortgages.

So, it protects them against default on the mortgage.

«Borrowers in default on their mortgage at the time of the short sale (or pre-foreclosure sale) are not eligible for a new FHA - insured mortgage for three years from the date of the pre-foreclosure sale.

Prior to the housing crisis, homeowners who defaulted on their mortgages faced tax consequences if their lender had to write off or write down any part of the outstanding balance.

Even as new housing sales rise, there are many defaulting on their mortgages because they can't afford their mortgages, or think that they are stuck with too much payment for too little house.

Also, NAR has a newly adopted Enhanced Subprime Lending Policy, which proposes solutions to avoid repeating mistakes that led to the increases in home owners defaulting on their mortgages.

In our crazy world (in which many have already defaulted on their mortgage payments) our credit scores go DOWN when we pay off our home loans?

Bank foreclosure: claims that landlord defaulted on her mortgage by leasing to an illegal marijuana business;

Those millions of dollars being spent on fancier homes that don't make people happier could have produced a lot more social benefit if they had been transferred to poor, working - class, and middle - class people who have been evicted from their homes after defaulting on their mortgages.

Although FHA doesn't directly lend money for mortgage loans, it guarantees its approved lenders against losses stemming from defaults on mortgages approved under FHA guidelines; its lending programs assist first time, credit challenged, and moderate income buyers.

A Nevada Association of Realtors (NVAR) Report found that 23 percent of homeowners strategically defaulted on mortgage loans.

Officials representing major players in the mortgage industry said they believed the plan would withstand any legal challenges and would help at - risk homeowners avoid defaulting on their mortgages.

Explaining the Funding Fee While VA loans continue to have the lowest rate of foreclosure of any major loan product, the reality is thousands of veterans default on their mortgages each year.

«That flipped in 2009, when people started defaulting on their mortgages first,» he says.

Strategic default: The property owner intentionally defaults on mortgage payments rather than continue to make payments on a property with a greatly reduced value.

It is very difficult to default on a mortgage once it is already paid off.

Assuming you did not default on your mortgage payments, you may be eligible for a refund on part of your insurance premium.

If a clients signs a first mortgage reaffirmation agreement and later defaults on the mortgage loan, the lender will still foreclose, but assuming that the lender forecloses by advertisement (and almost all mortgages are foreclosed this way in Minnesota), the debtor need not worry about having to pay a deficiency if the home sells for less than the mortgage balance.

What happens if someone defaults on their mortgage while the home is worth more than...

The rub, of course, is that underwater consumers are significantly more likely to consider defaulting on their mortgage.

HUD acquires many homes as a result of people taking FHA approved loans and then defaulting on their mortgages and then HUD takes the home, pays the existing mortgage loan off, and resells the homes.

If the Fed goes crazy with rises, it makes sense that homeowners would begin defaulting on their mortgages leading to finance company failures again.

The owner was Kola Aluko, a Nigerian billionaire who's been charged with money laundering and was in default on a mortgage on the property.

Foreclosure A legal procedure in which defaulting on mortgage payments or breaking the terms of the agreement cause a borrower to lose a property's title, or cause the property to be sold.

And, he added that the program could actually help some troubled borrowers avert defaulting on their mortgages.

Here's how mortgage insurance works: you pay monthly premiums for the coverage, and if you ever default on your mortgage the insurance company will pay out a claim to the lender that helps recoup what they otherwise would have lost.

Riding home, I think about one thing I was told: «In almost three years at Nehemiah, there has not been one single default on a mortgage.»