Sentences with phrase «unemployed borrowers»
The phrase "unemployed borrowers" refers to people who don't have a job and are also borrowing money from someone or a financial institution. They are individuals who are without employment but still have a need for financial assistance. Full definition
Lenders will be more willing to give unemployed borrowers a mortgage loan if they have a strong credit score.
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The Department of Housing and Urban Development will offer interest - free loans to aid unemployed borrowers with their mortgage payments in 32 states through its Emergency Homeowners» Loan Program.
This sort of innovation must be working, because CommonBond has introduced a similar program, called «CommonBridge,» which matches unemployed borrowers to consulting opportunities at the company and aims to help them find new jobs.
The Department of Housing and Urban Development is offering interest - free loans to assist unemployed borrowers with their mortgage payments in 32 states.
«The current unemployment forbearance programs have mandatory periods that are inadequate for the majority of unemployed borrowers,» U.S. Housing and Urban Development Secretary Shaun Donovan said in a statement.
«And second, we're launching an emergency homeowners» loan program for unemployed borrowers to be able to stay in their homes.»
It does nothing for low - wage workers at firms without educational benefits or unemployed borrowers, who are most likely to struggle to repay their student loans.
These include deferments for unemployed borrowers and for certain borrowers facing economic hardship.
$ 7 billion for other kinds of assistance, including forbearance of principal for unemployed borrowers, anti-blight programs and short sales.
The Obama administration also said it will remove hurdles to make it easier for unemployed borrowers to qualify for FHA's Special Forbearance Program.