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borrowers

borrowers Sentence Examples

  • Some of the states have usury laws giving relief to borrowers in cases where circumstances have compelled them to agree to extortionate rates; but other states have no such laws, except that a contract in writing is invariably required in all cases where the "legal rate" is exceeded.

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  • It should be borne in mind that in early times the larger values, such as minae, would be transmitted by commerce, while after the introduction of coinage the lesser values of shekels and drachmae would be the units; and this needs notice, because usually a borrowed unit was multiplied or divided according to the ideas of the borrowers, and strange modifications thus arose.

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  • Borrowers must repay 2% of their principal half-yearly, and may repay as much more as they choose.

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  • Borrowers must repay 2% of their principal half-yearly, and may repay as much more as they choose.

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  • The legal rate should be a very little above the lowest market rate; sober people will then be preferred as borrowers to prodigals and projectors, who at a higher legal rate would have an advantage over them, being alone willing to offer that higher rate.

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  • All the companies, except the Nord, have at one time or another had to take advantage of the guarantee, and the fact that the Ouest had been one of the most persistent and heavy borrowers in this respect was one of the reasons that induced the government to take it over as from the 1st of January 1909.

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  • The borrowers may have been tenants.

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  • 144), "that the first borrowers must have been for the most part men driven to this necessity by the pressure of want, and contracting debt as a desperate resource without any fair prospect of ability to pay; debt and famine run together in the mind of the poet Hesiod.

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  • Borrowers were not induced to borrow as a rule with the view of employing the capital so obtained at a greater profit, but they were compelled of necessity to borrow as a last resort.

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  • At the same time, however, their dealings were nominally under the supervision of the Jews' exchequer, and a number of regulations were enforced, partly with the view of protecting borrowers and partly that the king might know how much his Jews could afford to pay.

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  • He might borrow from it but repaid like other borrowers.

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  • It is an important method by which borrowers can escape the vagaries of the interest rate.

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  • creditworthy borrowers.

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  • discounters home owner insurance roth points out on high-risk borrowers back from the.

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  • Apply Online Now fast non status motgage deals happy to offer these products to borrowers.

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  • They are of little help to expat borrowers and are particularly obstructive to existing borrowers looking to extend their terms, or borrowing levels.

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  • Daniel Rothschild says, " Lenders are clearly profiteering at the expense of their borrowers.

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  • However, borrowers can finally heave a sigh of relief.

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  • wed 13th sep, 2006 7:25 pm Subject: Borrowers?

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  • Truly a nation of " borrowers " in more ways than one, but did they ever contribute anything really worthwhile?

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  • All the companies, except the Nord, have at one time or another had to take advantage of the guarantee, and the fact that the Ouest had been one of the most persistent and heavy borrowers in this respect was one of the reasons that induced the government to take it over as from the 1st of January 1909.

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  • He might borrow from it but repaid like other borrowers.

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  • The borrowers may have been tenants.

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  • It should be borne in mind that in early times the larger values, such as minae, would be transmitted by commerce, while after the introduction of coinage the lesser values of shekels and drachmae would be the units; and this needs notice, because usually a borrowed unit was multiplied or divided according to the ideas of the borrowers, and strange modifications thus arose.

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  • The legal rate should be a very little above the lowest market rate; sober people will then be preferred as borrowers to prodigals and projectors, who at a higher legal rate would have an advantage over them, being alone willing to offer that higher rate.

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  • Some of the states have usury laws giving relief to borrowers in cases where circumstances have compelled them to agree to extortionate rates; but other states have no such laws, except that a contract in writing is invariably required in all cases where the "legal rate" is exceeded.

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  • This equitable relief is still available, though it is not so wide as the relief now given to borrowers under the Money-lenders Act 1900.

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  • On equitable relief to borrowers reference should be made to Bellot and Willis's Bargains with Money-lenders.

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  • 144), "that the first borrowers must have been for the most part men driven to this necessity by the pressure of want, and contracting debt as a desperate resource without any fair prospect of ability to pay; debt and famine run together in the mind of the poet Hesiod.

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  • Borrowers were not induced to borrow as a rule with the view of employing the capital so obtained at a greater profit, but they were compelled of necessity to borrow as a last resort.

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  • At the same time, however, their dealings were nominally under the supervision of the Jews' exchequer, and a number of regulations were enforced, partly with the view of protecting borrowers and partly that the king might know how much his Jews could afford to pay.

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  • Rate lock is an important method by which borrowers can escape the vagaries of the interest rate.

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  • Period Property Discussion Forum Posted: Wed 13th Sep, 2006 7:25 pm Subject: Borrowers?

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  • Truly a nation of " borrowers " in more ways than one, but did they ever contribute anything really worthwhile?

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  • In order to utilize debt settlement, borrowers will need to have the money to pay off the settlement amount in a short amount of time.

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  • Bankruptcy can be a good option for many borrowers who have no other ability to repay debt.

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  • Under the Fair and Accurate Transaction Act, borrowers in the United States are entitled to a free copy of their credit reports from each of the three credit reporting agencies.

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  • Borrowers can keep an eye on their credit score activity and interest rates charged using one of the plans offered through Equifax.

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  • Get Good Loan Terms - Borrowers who have bad credit are often subject to prepayment penalties and other undesirable terms.

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  • Consolidating debt can save borrowers hundreds or thousands of dollars in interest payments, but it is not always an automatic fix to all financial woes.

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  • With one simple payment, many borrowers find that they are better able to put more money towards the total debt instead of scattering payments among several different accounts.

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  • For some lenders, however, this simply isn't enough; they want their borrowers to already have a history of making payments on time.

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  • This is common practice for people establishing credit for the first time, because at this point they are considered subprime borrowers as a result of the lack of credit history.

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  • Consolidation can be a great idea for consumers who are ready to get control of their debt and get it paid off once and for all, but borrowers should be aware that freeing up the credit lines of the paid-off accounts can prove enticing.

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  • For these reasons, consolidating credit card debt already saves money for the borrowers.

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  • Many people choose Citibank for unsecured debt consolidation loans because the company is well known and offers flexible terms to qualified borrowers.

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  • Debt settlement allows borrowers who are delinquent in a debt account to legally pay off the account for an amount that is less than the actual debt.

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  • This allows borrowers to rid themselves of a debt obligation while also allowing the creditor or collection agency to receive more funds than they would if the debt went ignored or into bankruptcy.

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  • These loans are secured, but they are often the most readily available option for borrowers who have good or worse credit scores.

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  • Very few lenders will provide unsecured loans for those with bad credit, which means home equity loans are one of the few options available to these borrowers.

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  • Most borrowers with bad credit will need to turn to secured loans, which are loans that are backed by the security of some type of asset.

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  • Finding these loans can be difficult, but there are options available to some borrowers.

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  • The law placed restrictions on how lenders could raise interest rates and collect fees from borrowers.

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  • To get the best offers, borrowers should ensure all monthly payments are paid on time or early, keep balances low, pay off the credit card balance in full each month and avoid applying for credit cards that they don't need.

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  • The following are some of the features available to borrowers.

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  • These are just a few of the options available to borrowers.

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  • The reason is because creditors will likely be apprehensive to approve credit applications for borrowers who cannot prove that they know how to effectively handle credit.

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  • Borrowers obtaining a mortgage in the same amount with little or no credit history -- or with a credit history peppered with delinquent accounts or bankruptcy -- will likely pay much more money over the life of the loan.

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  • Creditors consider consumers as either prime borrowers or subprime borrowers.

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  • Prime borrowers also have a high FICO credit score.

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  • For example, most creditors consider a consumer with a score above 750 as prime borrowers.

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  • Creditors consider consumers with a troubled credit history as subprime borrowers.

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  • Typically, creditors consider consumers with a credit score below 620 as subprime borrowers.

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  • The problem is that lenders want to be sure that borrowers will repay the borrowed funds; however, credit cards can improve credit scores.

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  • In order to overcome these difficulties, most borrowers need to work to rebuild credit scores before applying for new credit cards.

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  • It is important to not get taken advantage of when obtaining a personal loan with bad credit; many lenders prey on borrowers who do not expect to receive favorable interest rates or loan terms.

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  • This is because borrowers who walk away from paying personal loans will probably experience a lower credit score and have to deal with a collection agency, but they will not lose their homes or cars as a direct result of non-payment.

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  • This is a preferable method for many because the interest rates are generally low and the amortization is long, allowing borrowers to steadily pay down the debt for smaller amounts monthly.

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  • Options exist for these borrowers as well.

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  • It also helps safeguard borrowers from having a significant amount of debt at the time of leaving high school or college.

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  • Sallie Mae, one of the leaders of student loan consolidation, says borrowers can save up to 54% a month, depending on your current rate.

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  • Home equity lines of credit usually have an adjustable rate, and can be very beneficial for borrowers who aren't sure exactly how much they need, or for those who want to borrow as little as possible.

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  • If you qualify for Timely Payment Rewards, your mortgage interest rate will be lower than what is typically offered to borrowers with credit problems, in some cases as much as two percent lower.

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  • If the amount that the calculator determines is a significant amount of money, borrowers may choose to use either of these two methods to shave years off the length of the mortgage and/or save a significant amount of money on interest.

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  • Debt to Income Ratios: In an effort to protect borrowers against purchasing a mortgage that is not affordable, new debt to income ratio guidelines have been established.

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  • FHA does not issue mortgages directly to borrowers, but instead insures mortgages issued by its approved lenders.

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  • There are plenty of less-than scrupulous lenders online who attempt to take advantage of borrowers looking to buy a mobile home with as little money down as possible.

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  • Some borrowers do not have the funds available for a substantial down payment, and in these instances a low down payment might be the only way to buy a mobile home.

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  • Many borrowers prefer to use available fund to pay closing costs instead of having them rolled into the loan, and some borrowers simply want to enter into homeownership with some money in the bank.

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  • This loan program allows borrowers to choose between fixed rates and adjustable rates.

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  • Borrowers are able to take advantage of low monthly payments at the beginning of their loan term.

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  • Lower initial payments enable borrowers to take out a larger loan than they may have been able to under normal circumstances.

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  • Borrowers can take advantage of falling rates without refinancing.

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  • Adjustable mortgage rates can be confusing for inexperienced borrowers, making it easy for lenders who aren't reputable to take advantage of the situation.

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  • The best part about these types of mortgages is that borrowers are not required to make any loan payments for as long as they (or their co-owner) are alive and living in the home.

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  • To make lines of credit more attractive to borrowers, lenders often offer a temporarily discounted rate that lasts for a specific period of time, usually six months to a year.

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  • Borrowers work with knowledgeable home loan experts who are able to guide them through the process from start to finish.

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  • Many borrowers are shocked to find that a twenty minute phone call can result in an instant loan approval.

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  • Some lenders insist on paying homeowners insurance and taxes through escrow and do not allow borrowers to do it themselves without paying hefty fees.

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  • These same loans, however, are also available to borrowers who are not first time home buyers.

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  • With all these options, it is not difficult for potential borrowers to find affordable mortgage loans.

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  • The borrower pays the same monthly payments for the life of the loan which offers borrowers living on a fixed or limited income the advantage of setting aside a fixed amount each month without the threat of an unpredictable rise.

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  • Lower-wealth borrowers who experience substantial challenges in coming up with the funds for down payments and closing costs.

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  • This is an effective marketing method used by many mortgage companies, but it can cause confusion for borrowers who are not familiar with mortgage loan terms.

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  • Mortgage brokers act as intermediaries between borrowers and lenders.

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  • Just because an ARM loan usually offers a lower fixed rate initially, however, borrowers must remember that the initial interest rate period is followed by adjustment intervals.

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  • If the index rate moves up, so does your interest rate in most cases, and many times borrowers will be required to make higher monthly payments.

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  • For borrowers who fit specific loan criteria, these financial service corporations usually offer lower interest rates.

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  • Along with increased risk to the lender, drawbacks and risks extend to borrowers as well.

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  • Along with the interest rates charged on jumbo loans, borrowers should think about the long term ramifications of committing to such a sizeable monthly payment.

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  • Don't forget that on top of that monthly payment, borrowers still have to pay property taxes, insurance or fees and assessments.

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  • ARMs are often offered by sub-prime lenders to help borrowers get the house they want at a lower initial rate.

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  • Borrowers who need to establish or repair their credit choose a 2/28 ARM while hoping to secure a fixed rate mortgage before the rate is adjusted upward.

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  • The advantage of the 2/28 ARM is that it permits borrowers to develop a record of positive mortgage payments.

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  • An FHA-insured mortgage will also provide borrowers with a steady income and a line of credit.

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  • Borrowers are expected to meet the lender's financial requirements.

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  • Borrowers should be aware, however, that there are costs that may be incurred at the time of the loan, including interest and insurance premiums.

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  • Borrowers should speak with a certified reverse mortgage counselor before they make any decisions regarding mortgaging their home.

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  • Another problem for borrowers of the lender-insured mortgage is having something to leave to your heirs.

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  • The FHA-insured mortgage may have the least number of pitfalls for borrowers.

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  • All potential borrowers should speak with a reverse mortgage counselor before signing up for this type of loan.

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  • While borrowers may need to attend educational seminars on home ownership and managing finances, it seems well worth the effort for many individuals.

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  • Borrowers can use reverse mortgages as income sources, allowing them to receive money in retirement and perhaps enabling them to avoid going back to work out of financial necessity.

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  • The loan is also payable upon the death of all borrowers.

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  • Homes traditionally increase in value, and this is what most interest only borrowers are banking on for resale value.

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  • Potential borrowers looking to obtain a reverse mortgage should find a lender that is currently in business and accepting applications.The information below pertains to when Countrywide was still open for business.

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  • Each of these three mortgage types has benefits as well as potential problems for the borrowers.

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  • These qualifications apply to both borrowers if it is a joint application.

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  • AARP: Although this highly reputable organization is not a lender, they provide an online calculator to assist potential borrowers with unbiased information.

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  • Borrowers should carefully consider all of their options for a reverse mortgage in order to get the best deal and avoid any pitfalls.

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  • Of course a smaller monthly payment is always possible if interest rates fall, and this would be a welcome surprise for borrowers.

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  • Although the funds do not have to go toward the principal of the loan, borrowers must bring at least 3% of the loan to the table in the form of closing costs.

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  • In fact, many borrowers would rather pay these items on their own instead of trusting the lender to take care of it.

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  • Just because an ARM loan usually offers a lower fixed rate initially, however, borrowers must remember that the initial interest rate period is followed by adjustment intervals.

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  • If the index rate moves up, so does your interest rate in most cases, and many times borrowers will be required to make higher monthly payments.

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  • Saxon Mortgage offers loans for home mortgages and refinancing to borrowers including people with questionable credit histories.

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  • One program suggested to self-employed borrowers or those who don't want to go through all the paperwork of a fully documented loan is the "no documentation home loan".

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  • Some manufactured home loans have terms similar to those for traditional homes, requiring as little as five percent down and allowing borrowers to finance their purchase for up to thirty years.

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  • Borrowers may have to pay a funding fee depending upon the amount of the loan and other factors.

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  • With an interest only mortgage, borrowers are required to make payments that consist of interest only.

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  • Borrowers can pay more than interest if they choose to pay toward the principal.

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  • With a Seven Year Balloon mortgage borrowers get a lower price on the loan, which increases their buying power.

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  • Payments are calculated as if the term is 30 years and borrowers usually have the right to refinance after 7 years.

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  • As potential borrowers complete loan applications online, PHH Mortgage reviews the applicant's credit history electronically in real time.

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  • ARM loans are risky for lenders and borrowers alike.

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  • Borrowers assume the risk of dealing with increasing home loan payments resulting from changing economic conditions.

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  • There are plenty of less-than scrupulous lenders online who attempt to take advantage of borrowers looking to buy a mobile home with as little money down as possible.

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  • Some borrowers do not have the funds available for a substantial down payment, and in these instances a low down payment might be the only way to buy a mobile home.

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  • Many borrowers prefer to use available fund to pay closing costs instead of having them rolled into the loan, and some borrowers simply want to enter into homeownership with some money in the bank.

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  • EverydayLending.net also features a variety of mortgage affordability calculators that can help prospective borrowers analyze the implications of different financing options.

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  • First time homebuyers can choose one of the many special programs designed to assist borrowers in obtaining a suitable mortgage loan.

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  • Borrowers can utilize these resources in order to make as informed a decision as possible.

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  • Arbor Mortgage offers mortgage loans to borrowers with both good and bad credit.

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  • Some borrowers split their mortgage payment into more than one loan, resulting in more than one payment each month.

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  • Interest-only mortgage loans give borrowers the option of not making payments to the principal balance for a predetermined amount of time.

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  • Potential borrowers who would like to apply for a mortgage through H&R Block can do so online through the official H&R Block Bank website.

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  • Members of The Home Retention Team have extensive training and knowledge and work directly with borrowers in an attempt to keep homes out of foreclosure.

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  • Members of this team have the authority to work out payment plans which may include lower payments or interest charges in order to get borrowers back up to current status in their mortgage loans.

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  • Although many borrowers choose to pay a mortgage broker to find the best possible offer, you can find great offers yourself with a little effort and research.

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  • To the contrary, many borrowers turn to bridge loans Oklahoma as a means by which to cover both mortgages temporarily because that is their choice.

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  • Agape World, Inc. can work with corporate borrowers without a solid credit history.

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  • Although lenders can start foreclosure proceedings as quickly as with one missed payment, most lenders wait a few months to give borrowers the chance to either catch up on payments or to negotiate a new payment plan.

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  • Mortgage calculators that help potential borrowers calculate various scenarios to decide what payment options are most financially advantageous.

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  • Mortgage lenders have various grace periods for payment, so while one lender might initiate foreclosure as soon as possible other lenders may give borrowers a little more time before moving ahead with foreclosure.

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  • Keeping in contact with the borrower may stretch the procedures out a little longer to give borrowers the chance to catch up and stop the foreclosure process, but most foreclosures follow this approximate timeline.

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  • At this point, borrowers can still easily avoid foreclosure by sending in the late payment or working out a payment plan with the lender.

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  • Borrowers can attempt to purchase their home at the auction, but in most instances the home is sold to another buyer.

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  • Borrowers should be aware of what index the lender uses to set rates.

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  • Some programs - such as those offered through the Federal Housing Administration (FHA) - allow borrowers to obtain a loan for the cost of the home as well as for necessary repairs or improvements to the home.

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  • This means that borrowers cannot exceed a certain percentage for income dedicated to paying recurring debt.

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  • A fixed rate mortgage appeals to borrowers who do not want their interest rates to change throughout the life of the loan.

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  • Mortgage Refinance: Borrowers can refinance their homes into a Washington Mutual first mortgage product, such as the fixed rate or adjustable rate mortgage.

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  • Finding bad credit home loans Houston TX is not nearly as easy as it once was, but there are still lenders within the area willing to accept borrowers with less than perfect credit.

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  • Borrowers can increase their chances of getting approved for a mortgage loan with bad credit by seeking out an FHA guarantee.

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  • These counselors are trained to assist potential borrowers before applying for a mortgage.

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  • Borrowers will have a much better chance of getting approved if the bad credit is in the past and steps have been taken to improve the financial situation.

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  • When you compare the home loan rates WV lenders are offering on these websites or others, be sure you realize these are the best rates they are offering to the best qualified borrowers.

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  • Bad credit home loans London are available, but borrowers can expect to pay much higher interest rates than borrowers without credit problems.

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  • Mortgage products are also available for borrowers who have decent credit but do not have proof of income or who have some other situation that might make it difficult to get approved for a home loan.

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  • Borrowers have bad credit when there are delinquencies on their credit reports or have other issues that make it difficult to fall into the category of qualifying for a traditional home loan.

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  • When borrowers shop for a mortgage loan they may be given the option to select which index they want to use as the basis for rate changes on their mortgage.

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  • The Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) can also be helpful to borrowers.

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  • Lenders use this program to insure their funds against defaults by borrowers.

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  • Borrowers must use caution to make sure they do not wind up with a loan product that is designed to swindle desperate homeowners.

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  • After the real estate market bubble burst and the economy started to sour, many legitimate lenders and assistance programs began offering loans designed to assist borrowers in keeping their homes and avoiding foreclosure.

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  • The increase in legitimate loan products for people in foreclosure does not mean that there aren't still many unscrupulous lenders looking to swindle home titles from unsuspecting borrowers.

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  • Keep in mind that borrowers who have always paid their mortgage loans on time may receive a more favorable reaction than borrowers who have always sent in mortgage payment sporadically and have been delinquent in the past.

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  • Also keep in mind that despite the hefty costs associated with foreclosing on a home, some lenders simply aren't willing to work with borrowers.

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  • In most instances, borrowers should be prepared to pay interest rates and fees comparable to other subprime mortgage loans.

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  • Governmental assistance programs are available to some borrowers through state or federal programs.

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  • However, it behooves the lender to come close to standard rates, especially since borrowers with good to excellent credit can easily seek financing elsewhere.

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  • All borrowers must pay Private Mortgage Insurance (PMI) on loans with less than a 20% down payment.

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  • Reverse mortgages, like all loans, are great for specific borrowers.

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  • There are dangers of reverse mortgages borrowers should be aware of prior to determining if this type of home loan is right for them.

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  • This type of loan has obvious advantages for borrowers.

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  • Additionally, borrowers can no longer will the entire value of a home to heirs because it is no longer available to give.

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  • This professional will be able to answer any questions and to help potential borrowers figure out if a reverse mortgage is right for them.

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  • The goal is to create new mortgage opportunities for borrowers and lenders which borrowers can afford.

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  • Borrowers are required to show that they have the financial ability to make their new mortgage payments in full and on time.

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  • These precalculated schedules require borrowers to estimate their particular situation based on the numbers presented.

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  • The United States in particular uses the LIBOR as a common interest rate index offered to borrowers applying for adjustable rate mortgages.

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  • Amortization schedules offer many benefits to borrowers.

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  • In most states, law requires mortgage lenders to supply borrowers with a copy of their amortization schedule before document signing.

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  • The credit agencies rely on past payment history to gauge how borrowers will do in the future.

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  • Borrowers without a credit history may still be approved for an FHA mortgage if the underwriter can see a pattern of regular payments to obligations.

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  • Most lenders want borrowers to retain their homes, and most homeowners want to avoid foreclosure if at all possible.

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  • Borrowers should be aware that they run the risk of losing their home if they fail to make the required payments on a home equity loan.

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  • When initially getting involved with financing investment properties, some borrowers turn to their own assets as collateral.

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  • While using assets as collateral to finance investment properties may result in a lower interest rate or more attractive loan product, borrowers must keep in mind that no investment is guaranteed.

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  • When borrowers apply for a mortgage, lenders perform complicated calculations designed to determine whether or not the individual can actually afford the loan.

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  • While lenders do have the right to foreclose on homes if borrowers fail to make payments per the terms of the original agreement, in some cases a loan modification program might be a viable option.

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  • Lenders are under no obligation to allow borrowers to modify the terms they agreed to at the time the loan was made, but in many cases doing so is in the best interest of the lender as well as of the homeowner.

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  • For this reason, it may be necessary for borrowers to explore the option of obtaining a personal loan for the purchase of a home.

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  • Instead of granting kiddie condo loans to young adults who have no credit history whatsoever, all borrowers on the loan must have an acceptable credit history.

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  • In early 2009, President Barack Obama signed an initiative aimed to help five million borrowers refinance their homes if the mortgage is owned or guaranteed by Freddie Mac or Fannie Mae.

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  • It provided millions in incentives to mortgage lenders to assist borrowers who are on the cusp of foreclosure to lower their monthly payments.

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  • Keep in mind that some lenders will not approve a mortgage loan for borrowers who obtain a loan for the down payment.

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  • Borrowers who do not have their taxes and insurance withheld in an escrow account monthly by their mortgage servicer will not have the taxes and insurance portion as a consideration in the overall monthly payment.

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  • This can cause confusion among potential borrowers who do not understand that the estimated payment does not necessarily reflect the full monthly cost.

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  • However, borrowers must still prove that their credit is good.

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  • The Economic Stimulus Act of 2008 expanded the amount of money the FHA has to help borrowers secure in mortgages.

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  • Many borrowers secured loans with adjustable mortgage rates for high-value home purchases.

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  • To stem the tide of foreclosure, even for questionable borrowers, the federal government temporarily changed the rules for FHA jumbo loans.

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  • The Economic Stimulus Act of 2008 also allowed the FHA to help borrowers secure loans for amounts that reach 125 percent of the area's average home price.

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  • Streamlines are not available to all borrowers with FHA mortgages.

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  • Cash-Out: This loan allows borrowers to refinance their FHA mortgages for up to the maximum loan-to-value amount set by both FHA and the lender.

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  • It is important to remember that in some instances, borrowers will not only have to qualify based on the regulations set forth by FHA, but also must qualify based on the regulations set by the lender.

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  • This fee is standard with FHA mortgages, and for this reason a conventional loan may be a better option for some borrowers when looking to refinance.

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  • On the other hand, these loans can be an excellent way for borrowers to get approved for a mobile home loan despite less than perfect credit or a down payment that is not sufficient for a traditional mobile home loan.

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  • The lenders pass this increased risk along to the borrowers in the form of high interest rates and fees.

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  • For example, while national lender Wells Fargo Mortgage offers this type of mobile home loan in California for eligible borrowers, Bank of America does not.

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  • While there are limits to how much you can borrow, it is possible for qualified borrowers to secure funding to take care of home improvement remodeling projects through this loan program even if they do not have equity in the property.

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  • A lot of borrowers believed that real estate prices would just keep going up and that the quick equity they would get in their homes as a result of rising prices would make the homes affordable, or allow them to sell and make a quick buck.

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  • In addition, many lenders require borrowers to sign IRS form 4506T, which allows the lender to actually check the tax returns to ensure that the individual is telling the truth about his or her income.

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  • You may be able to set up bi-weekly payments at no cost, but some mortgage lenders may put restrictions on this type of program and require borrowers to pay a fee in order to sign up for bi-weekly payments.

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  • This allows borrowers to get payments in after the due date without experiencing late fees or being considered delinquent.

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  • A direct lender accepts applications directly from potential borrowers instead of only accepting applications through mortgage brokers or other intermediaries.

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  • Additionally, because interest rates on these types of loans tend to be higher than for loans on houses, it takes longer for borrowers to pay down loan principal even when making timely payments.

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  • These facts make lenders especially cautious when approving loans for mobile homes and land if the borrowers do not have good credit.

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  • Borrowers can also use a home equity loan to pay off their existing mortgage and take a certain amount in cash.

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  • Interest rates are typically lower than for other types of loans and the interest paid for second mortgages may be tax deductible for some borrowers.

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  • The company will also track rate trends and averages within the industry for borrowers.

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  • This company allows mortgage brokers to post the best rates available for borrowers.

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  • Chase offers six major options for borrowers looking to buy or refinance a home.

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  • This page updates daily with the latest options available to borrowers.

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  • Wells Fargo offers a variety of informative articles and detailed information online to help borrowers make wise financial decisions.

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  • Borrowers who do not allow their mortgage company to pay their real estate taxes on their behalf need to make tax payments on time every time or may find themselves in a complicated mess.

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  • Some borrowers also pay private mortgage insurance (PMI) monthly, which typically comes out of the monthly mortgage payment.

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  • As an added incentive, interest paid on a home equity loan--even when used to consolidate debt--may be tax deductible for some borrowers.

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  • Finding bad credit debt consolidation home equity loans can prove difficult, particularly when the borrowers do not have ample equity to present as collateral.

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  • Borrowers who currently have delinquent accounts, chargeoffs, enrollment in CCCS, or recent bankruptcies will likely have a harder time getting approved for a home equity loan.

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  • While it is true that borrowers with bad credit can expect to pay higher interest rates, this does not mean that they should automatically accept prepayment penalties and necessary closing costs.

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  • Countrywide borrowers became Bank of America borrowers and, today, Bank of America is operational and offers mortgage loans.

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  • After Bank of America purchased the company and the transaction finalized, the company took steps to improve the financial situation of many of its borrowers who were facing loans they could not afford.

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  • ASC Mortgage Company online services allow borrowers to make their home mortgage payments over the Internet.

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  • Another common complaint is that ASC often collects extensive amounts of paperwork from borrowers seeking to adjust their loan payments only to later deny the request.

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  • After a mortgage loan closes and is assigned to Cenlar, borrowers no longer deal with the original lender but instead direct all questions regarding the loan to Cenlar representatives.

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  • Mortgage borrowers do not generally have a choice regarding which servicing company handles their loans.

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  • This can be a matter of contention among mortgage borrowers, especially if they do not feel as if their mortgages are being serviced properly.

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  • Even though Cenlar and other mortgage servicers do not have the ability to offer mortgage refinancing, they may be able to provide mortgage modifications to qualified borrowers.

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  • The flexibility of using the funds any way you would like to is one of the benefits many borrowers like.

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  • The company also offers "Estate Guard" which permits borrowers to stop their loan interest accrual during periods of hardship.

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  • To qualify for the loan, all borrowers must have a minimum credit score of 700.

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  • It can help potential borrowers to see how much the monthly loan payment will be.

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  • It is often important for borrowers to prepare for such an increase to ensure they have the necessary resources to keep paying the mortgage.

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  • Most borrowers, however, can make payments towards the principal during the interest-only period.

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  • According to Bankrate.com, many lenders focused on increasing the number of loans closed and did not require borrowers to verify income stated on loan applications.

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  • Borrowers should also carefully investigate fees and late payment or prepayment penalties before signing up for a loan.

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  • State-funded loans such as these are considered "revolving" because as payments are made from borrowers, that money in turn becomes available for new borrowers.

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  • Borrowers do not need to repay grants, in most cases, but funding through grants will require stringent adherence to guidelines set forth by the grant's provider.

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  • Those interested in these loans will need to find a lender to obtain the loan through since the SBA does not work directly with borrowers.

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  • Local lenders connect borrowers to this funding option.

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  • In addition to the SBA, borrowers can also approach local banks and national lenders to request funding for a new business.

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  • These are the best scores, and borrowers with scores in this range will receive the lowest interest rates and best terms.

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  • Borrowers with scores below 600 may have trouble refinancing a car loan.

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  • Unfortunately, it's also an opportunity for unscrupulous lenders to take advantage of borrowers.

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  • Refinancing a vehicle is often easier to do than refinancing a home, and loans may be readily available to qualified borrowers.

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  • Many stipulations attached to employment insurance policies leave many unemployed borrowers ineligible to use the policy, even if they have paid the fee faithfully, month after month.

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