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Is the Cross Collateral Agreement considered a lien on real property in addition to the original mortgage lien and must be released or satisfied upon payment of one of the mortgage loans?
Wiki User
∙ 14y ago
Researching how cross collateral agreements affect our lien we have an asset to or for the investor we are servicing.
Wiki User
∙ 14y ago
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What is the purpose of a Part 9 Debt Agreement?
The Part Nine Debt Agreement states that the debt agreement shall appear in one's credit history for seven years. In addition, the debtor's name will be on the NPII list forever.
If you pay 13000 of a 15000 loan is that taken into consideration when you stop paying?
All payments are considered when you stop paying on a loan. However, when you default on the contract, it is the contract on which you are paying. The collateral only secures the loan, and if there is collateral, it may be secured (repossessed) to be sold to be applied to the balance. If you only owe $2000 on a $15,000 loan, the collateral could be worth a substantial amount. The lender may choose to sell the property for only the owed amount and fees. If so, you are out the remaining value of the property. If the lender wishes, they may choose to sell it for its fair market value, and anything in addition to what is owed should be returned to you.
What would Payment be for 250000 home?
The answer would depend on your credit, income, and assets. Higher credit scores will mean lower APRs and therefore lower payments. Also, higher income or offering collateral on the home (collateral would something, in addition to the mortgaged home, which the bank could take from you if you default) would lower your APR and get you lower payments. The only way to find out for sure would be to go to a lender and apply for a home loan. DSB
What is triple net in real estate?
The triple net in real estate is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three "Nets") on the property in addition to any normal fees that are expected under the agreement, rent, utilities etc.
What is the difference between purchase agreement and closing on a house?
A purchase agreement is, well, an agreement to purchase a property. It sets the price the buyer will pay to the seller. "Closing" on a house is signing all the paperwork (and there is a lot of it!). This includes not only the purchase price, but all the fees associated with a property transfer -- title searches, taxes and the like, the details of the mortgage (the agreement between the purchaser and the lending institution), the commission to be paid to the real estate agent, etc. All that stuff in addition to the actual purchase price is "closing costs" and there is usually a separate agreement specifying which of these costs will be paid by the buyer and which by the seller. You can get writer's cramp signing all the papers at a closing!
If a piece of furniture is sold to a second party before it is paid of by the first owner can it still be repossessed?
In most cases yes, and the seller/borrower will be held accountable for money owed on the item, costs incurred to retrive the item, legal expenses and so forth. In addition it is illegal to sell property that is designated as collateral before the lending agreement is satisfied. This would not apply to credit card purchases but does apply to items purchased on merchant accounts, such as Sears.
What is hexadecimal addition?
You will be fully satisfied with the following link: http://lyle.smu.edu/~jgd/ee2381/072/handouts/Hex_Arithmetic_072.pdf
What is the purpose of a Part 9 Debt Agreement?
The Part Nine Debt Agreement states that the debt agreement shall appear in one's credit history for seven years. In addition, the debtor's name will be on the NPII list forever.
If you pay 13000 of a 15000 loan is that taken into consideration when you stop paying?
All payments are considered when you stop paying on a loan. However, when you default on the contract, it is the contract on which you are paying. The collateral only secures the loan, and if there is collateral, it may be secured (repossessed) to be sold to be applied to the balance. If you only owe $2000 on a $15,000 loan, the collateral could be worth a substantial amount. The lender may choose to sell the property for only the owed amount and fees. If so, you are out the remaining value of the property. If the lender wishes, they may choose to sell it for its fair market value, and anything in addition to what is owed should be returned to you.
What is a cross collateral agreement?
Commonly found in account agreements at banks and credit unions, cross collateralization refers to money that is owed to the creditor being "backed" by all or specific other accounts the debtor may hold. An example of this would be a car loan with a bank where the debtor's savings and checking account are used as cross collateral for the car loan. If the debtor fails to pay the car loan, the bank may take funds from the debtor's checking and/or savings account to cover the payment or the loss in addition to any recovery allowed from action against the vehicle itself (such as repossession.
If you are adding a deck to your farm house is that considered a consumer loan business loan or agricultural loan?
Normally, the addition of a deck, or any other addition, to a residence would require either a home equity loan (assuming the borrower has equity) or adding the cost of the addition to the principle of the loan (assuming the property would still appraise high enough for collateral). Often, a new loan is made listing the property as collateral (again assuming equity) to remain deductable as mortgage interest. If the farm house is included in an agricultural loan, however, there is a great many ways the loan could be structured. If the loan is a business or ag loan it would vary greatly depending upon the legal status of the borrower (ie. sole proprietor, LLC, corporation, etc.)
What is the order of operations agreement?
The order of operations agreement rules are:1.Do inside of parenthesis.2.Do all exponents.3.Multiplication or division from left to right.3.Addition or subtraction from left to right.I ♥ u !!!
What are most public wants satisfied by?
Public wants are typically satisfied by government services, such as healthcare, education, infrastructure, and public safety. In addition, public wants can also be fulfilled by private businesses through goods and services that cater to the needs and desires of society.
In making decisions to plan for hazards what must be considered in addition to the cost and benefits?
The damages
What is considered to be the universal solvent?
water is considered to be the universal solvent because it is easily used to dissolve many substances. in addition, in chemical reactions water is often considered the solvent.
What compound is considered to be the universal solvent?
water is considered to be the universal solvent because it is easily used to dissolve many substances. in addition, in chemical reactions water is often considered the solvent.
Burns to what parts of the body are always considered critical?
In addition, burns involving the hands, feet, face, eyes, ears, or genitals are considered critical.
