Sentences with phrase «unpaid loan balance»

Lenders are only recovering an average 51 percent of unpaid loan balances in 2017 as compared to 65 percent for 2011 auto loans.

If you don't, your loved ones will have a reduced death benefit if you die since unpaid loan balances are deducted from death proceeds.

(Remaining unpaid loan balance, if any, will be due and payable upon maturity of the certificate)

Any amount of unpaid loan balance, however, will go against the amount of the death benefit that is paid out at the senior's passing.

After making 20 years of qualifying monthly payments, the remaining unpaid loan balance will be forgiven by the federal government (although the borrower may have to pay income tax on the forgiven amount).

You may also be required to hold in reserve between 2 - 6 % of any unpaid loan balances on any property beside the subject property and your primary residence.

And, if you leave the company before the loan is paid back, it is considered a withdrawal and taxes and penalties will be due on the unpaid loan balance.

Loan to Value (LTV): The loan to value is calculated by dividing the unpaid loan balance by the current value of the property.

First - Time Borrower A first - year undergraduate student who has no unpaid loan balances outstanding on the date he or she signs a promissory note for an educational loan.

If you enjoy student loans forgiveness, the unpaid loan balance becomes more or less government grants as you will not need to repay the loan.

Any unpaid loan balance, plus interest, is subtracted from the death benefit.

You may also be required to hold in reserve between 2 - 6 % of any unpaid loan balances on any property beside the subject property and your primary residence.

The Drinker Biddle attorneys observe, that when an offset occurs, the unpaid loan balance is deducted from the participant's plan account — the loan is «offset» — and the amount of the loan offset is reported to the participant on a Form 1099 - R as an actual distribution.

In addition, should the policy holder pass away while there is still an unpaid loan balance, this amount will be deducted from the total amount of death benefit proceeds that are received by the policy's beneficiary.

In most cases, cars are the primary asset involved in a repossession, but it could be real estate, jewelry, artwork or any tangible asset that can be sold to recoup money for the unpaid loan balance.

Since Ogden Auto Group wasn't incorporated, it was legally a non-entity and the individual defendant was properly found liable for the unpaid loan balances.

Rather, the primary insurance deductible is taken from the payout of your totaled vehicle and covered as part of your unpaid loan balance, which gap insurance pays.

In the event that your car is totaled in an accident, the gap insurance policy will kick in to cover the unpaid loan balance after you receive the insurance company's fair market value price for the car.

(It is important to note, though, that any unpaid loan balance at the time of the insured's death will go against the amount of the death benefit that is paid out to the policy's beneficiary).

Instead, the amount of the insurance deductible is applied to the amount of the insured's unpaid loan balance.

In addition, should the policy holder pass away while there is still an unpaid loan balance, this amount will be deducted from the total amount of death benefit proceeds that are received by the policy's beneficiary.

Should, however, the insured pass away prior to the time that the full amount of the policy loan has been repaid, there will be a reduction in the death benefit, based on the amount of the unpaid loan balance.

However, it is important to note that any unpaid loan balance at the time of the insured's passing will be charged against some death benefit proceeds that are paid out to the beneficiary.

Any unpaid loan balances against the cash value account are withheld from the final death benefit paid out to beneficiaries.

Eventually, when you die, any unpaid loan balances are subtracted from the death benefit that is paid to your beneficiary.

Shomari Hearn, a Certified Financial Planner and vice president with Palisades Hudson Financial Group in Fort Lauderdale, Fla., pointed out that you don't have to repay the loan, though you will have to pay interest each year, and any unpaid loan balance will reduce the death benefit your beneficiaries receive.

Take an unpaid loan balance of $ 200,000 and multiply it by the interest rate.

If that law expires as scheduled, homeowners who agree to a short sale could see their income tax jump significantly because the portion of the unpaid loan balance not covered by the short sale proceeds will be considered taxable income in many cases.

FannieMae's Ohio sales of properties in the first quarter of 2013 recovered 55.5 percent of the unpaid loan balance, up from a 46.2 percent loan recovery in the first quarter of 2009.