Sentences with phrase «with second liens»

Most lenders have stopped offering second mortgage programs but our second mortgage lenders continue to extend credit to people with second liens that meet the program parameters.

Tranches with a higher claim on underlying assets are safer than and senior to junior tranches with a second lien.

Not exact matches

Shares of Energy XXI Ltd (NASDAQ: EXXI) plummeted more than 75 percent early Thursday morning after the company announced that it and some of its subsidiaries have entered into a Restructuring Support Agreement (RSA) with holders of more than 63 percent of its secured second lien 11.0 percent notes...

With this plan, we aim to help homeowners avoid foreclosure by reducing or eliminating the principal balance of those in need of relief from a second mortgage lien they can no longer afford.

Many second lien holders were left with nothing.

There are many other solutions offered, that are frequently adjusted to keep up with rapidly changing economy, such as financial incentives for people with good track of mortgage payments, foreclosure alternatives, second lien modifications, and so forth.

1) The Piggy - Back (a.k.a.: Concurrent Lien, First and Second Combo) Borrowers purchasing a home, are able to use a «piggy - back» their first mortgage in with a second mortgage to give them additional flexibility in the formation of their repaymentSecond Combo) Borrowers purchasing a home, are able to use a «piggy - back» their first mortgage in with a second mortgage to give them additional flexibility in the formation of their repaymentsecond mortgage to give them additional flexibility in the formation of their repayment plan.

It is possible to help your profiles through paying off the lien, however we have noticed that after liens are paid businesses end up with two listings on their reports one for the date filed and the second for the date released, depending on the bureau.

The piggy - back allows buyers to take a conventional first mortgage with favorable terms, while concurrently giving them a second lien that provides them with cash ready for use.

You can pretty much guess that a lot of lenders will not be thrilled with this notion, especially holders of second liens who are likely to lose much or all of their investment.

One alternative is to refinance with another lender by paying off the first lenders, terminating the original lien, and getting a larger secured loan from the second lender.

In other words, with a Home Equity Loan or HELOC, you will have two mortgages on your property; in all likelihood, it will have a higher interest rate than your first mortgage due to the fact that it will be held in a second lien position against the property.

Second and all subsequent lien holders must also approve a short sale, so even though it can still happen, it's a lot of extra work with more opportunities for a last - minute fall - through.

With the HARP refinance program, second liens are meant to subordinate.

According to Nationwide originators, bad credit second mortgage and refinance loans are in demand more than ever for borrowers with credit problems who seek money with a lower interest rate that is available by redoing your existing lien.

Until the conflict between first and second lien holders is resolved, loan modification efforts and mortgage write - down programs will likely be met with very limited success.

With a second mortgage you can eliminate all of your debts including credit cards, car loans, student loans, liens, and other bills.

HELOCs and HELOANs are also called «second mortgages» because their liens are «junior» to the lien held by the lender with the first mortgage.

FHA allows cash out refinancing with scores as low as 500, so if you may want to consider this type of loan if you were denied for a second mortgage lien recently.

If your current car still has a title loan with a remaining balance, you won't be able to get a second title loan because the lender, whether it be LoanMart or another company, has a lien on the title.

Loans for second liens with CLTVs up to or over 85 % available.

A refinance with cash out is an alternative to a home equity loan, also known as a «second mortgage,» because it's a lien on your home like your existing mortgage.

As with the example above, mortgage lenders, mortgage insurance companies, second lien holders, and in the case of short sales, the new buyers have to agree to the terms of the loss mitigation program.

The piggy - back allows buyers to take a conventional first mortgage with favorable terms, while concurrently giving them a second lien that provides them cash ready for use.

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Typically when you apply with lenders, many will try and talk you into refinancing the 2nd loan at the same time you redo the 1st lien, otherwise you will have to get the second mortgage company to agree to complete a subordination agreement.

Piggyback loans are generally available up to 90 % loan - to - value (LTV) on the purchase price, with the first lien typically comprising 80 % of the price, and the second «piggyback» mortgage comprising 10 % of it.

The Second Lien Modification Program, in conjunction with HAMP, enables borrowers to lower the payments on the home equity line of credit.

A title loan on a vehicle with an already - active loan would be referred to as a second - lien on the vehicle.

With no principal reduction, the banks would have to write off many of those second liens.

Sample APR assumes a new $ 100,000 HELOC in second lien position with a combined loan - to - value (CLTV) ratio of up to 70 % on a 1 - to 4 - unit owner - occupied primary residence and a borrower with excellent credit.

A Typical 504 project includes: 1) a loan extended by a commercial bank with a first lien on the asset financed; 2) a second lien loan secured from a CDC with a 100 percent SBA - guaranteed debenture for up to 40 percent of the total cost; and 3) an equity investment of at least 10 percent from the borrower.

Our Debt Finance team has extensive expertise with all types of debt financings, such as senior secured first and second lien loans, unitranche and mezzanine loans.

However, in a contested probate proceeding arising out of wife's appointment as temporary co-conservator with husband's son, the lower court approved the settlement (including fees to the second attorney) but denied first attorney's request for fees based on the attorney's lien and quantum meruit recovery.

The Chasm Group, LLC and Chasm Institute, LLC (San Bruno, CA) 1997 — 2008 Business Operations Manager • Managed all daily operational tasks for leading multi-million dollar high - tech market strategy consultancy, while providing executive administration to C - level executives and venture capital partners • Developed and managed the firm's annual budget, proposing and implementing expense cuts, producing monthly reports and financial statements, and coordinating with CPA firm for accurate and timely filings • Oversaw all client relationship management efforts while cultivating new business efforts from concept to implementation, providing high - quality service in sales efforts while utilizing new lead tracking system • Negotiated and managed all contracts, stock grants, and financing arrangements, working closely with outside counsel to draft legal documents and resolve LLC - and proprietary - related issues • Led three office space build - outs and two office relocations, managing all aspects of each process under aggressive timeline and budget expectations • Reduced firm telecom expenses by 22 % by streamlining IT objectives, including migration to VOIP phone system, software / hardware purchases, domain renewals, and outsourced technical support • Directed all phases of staff recruitment while creating and implementing all HR policies and programs, including comprehensive employee benefits plans • Supervised multiple administrative staff members, conducted performance appraisals and wage / salary surveys in comparison to incentive program guidelines, and maintained HR files in accordance with legal mandates • Produced all out - going client invoices in an accurate and timely fashion to increase, cash flow and reduce aging receivables, providing consistent attention to overhead costs and vendor arrangements • Administered all company insurance policies, including E&O, general liability, bonds, partner life and disability, conducting annual benefits reviews and employee / company insurance audits • Obtained necessary certificates for consulting contracts while processing federal, state, and local business reporting requirements to maintain licenses and incorporation status • Directed all marketing efforts and oversaw logistical aspects of national educational workshop series, utilizing sponsorship arrangements to offset production costs • Transformed «brochure» website into a dynamic tool to better illustrate company opportunities through relevant case studies, as well as maintaining all other promotional media, including press kits and video Association of California School Administrators (Burlingame, CA) 1993 — 1997 Issues and Planning Committee Coordinator • Executed all phases of event planning and implementation for a membership - driven organization including 23 state committees, 5 task forces, 6 strategic planning conferences, and a conference of 1,500 attendees • Focused on facility evaluations, bid requests, site visits, contract negotiations, and all pre - and post-conference planning processes • Produced statistical and financial reports, including budget projections and cost monitoring for developmental training efforts • Oversaw all participant - level responsibilities, including inquiries, eligibility, registration, correspondence, and billing statements • Managed all legal professional standards calls for Northern California regions, including the processing of attorney authorizations, the preparation of legal assistance letters, and liens on cause of action • Served as second point of contact for computer inquiries and troubleshooting efforts as well as provided back - up executive administrative support for Executive Director, Committee Chairs, and the State Superintendent of Public Instruction • Held responsibility for software installation and hardware configuration while performing weekly AS / 400 backup and report generation

Second, in the 2nd - 4th contract communication with the primary lender's negotiator that was restricted to email only — hindering the transaction of a property that had three liens.

Sunlin says the bank's program gives troubled owners «a preapproved solicitation for a short sale» along with proactive processing of all the required steps: «appraisals, review of financials, investor approvals, mortgage insurer approvals, second - lien approvals — all of these can be done while the property is being marketed,» he says, «so when an offer is brought to the table we can do a much quicker turnaround.»

With a second mortgage, the second lender is second in line to get paid if a lien is ever put on the home.

Experience with different lenders will tell you, for example, whether the process will extend beyond your buyers» time frame or the holder of a second lien will stand in the way of the sale.

Selling notes, along with loss mitigation, was the core of our business (mainly second liens, but also some firsts as well).

First - lien lenders would likely be repaid in full, with second - lien lenders getting the majority of the equity in the reorganized company, according to one of the people.

The ease at which lenders have offered to finance all or most of the purchase price, second mortgages that place a lien against the homeowner's equity, a depreciating real estate market, and long term financing with minimal principle reduction have all contributed to this phenomena.

If it is a second lien with a performing first you got them right were you want them.