What is defaulting on a loan?Loan Agreements:When an individual or an organization takes out a loan, they must agree to repay it over a specified period and with a specified finance charge. These specifications can vary, and will be outlined in the loan agreement....
As one BankAmerica lawyer remarked, 'We're beginning to be able to look at the bankers asparalegals.' □ Christopher R Brown How to be paid on a defaulting loan The holders of a batchof defaulting promissory notes were paid in full, but only after attachment orders hadBrown, Christopher ...
Birdman has reached a deal with the company suing him to sell the home to a third party “as is” for $13.5 million. The company suing him, EMG Transfer Agent, accused Birdman of borrowing $12 million and putting the Miami home up as collateral, then defaulting on the loan. A judge ...
1.Failure to perform a task or fulfill an obligation, especially failure to meet a financial obligation:in default on a loan. 2.LawFailure of a party in a case to make a required court appearance. 3.The failure of one or more competitors or teams to participate in a contest:won the ch...
Defaulting on a credit card can make it challenging to obtain credit in the future. Lenders and financial institutions are less likely to approve your loan or credit applications due to your history of defaulting. This can negatively affect your ability to buy a home, finance a car, or even...
The meaning of DEFAULT is failure to do something required by duty or law : neglect. How to use default in a sentence.
① [intransitive ] default(on sth) to fail to do sth that you legally have to do, especially by not paying a debt 违约,不履行义务(尤指不偿还债务) ◆ to default on a loan/debt 拖欠借款╱债务 ◆ defaulting borrowers/tenants 不偿还债务的借款人;拖欠租金的承租人 ...
The Defaulting Partner's Interest shall be purchased by the Partnership on such closing date at a price (the "Defaulting Partner's Purchase Price"), which shall be the Value (as defined in Section 18.1 of this Agreement). It is the intention of the parties that the Transfer Purchase Price...
Yang Dingguo had been a successful entrepreneur in Hangzhou China’s real estate industry and the shadow banking network that it relies on received a collective black eye this week when a Hangzhou developer first defaulted on loan payments, and was later arrested on fraud allegations surroundin...
Defaulting on a home equity loan or HELOC could result indefault and foreclosure. What the home equity lender does depends on the value of your home and how much you owe upon default. If you have enough equity in your home, your lender will likely initiateforeclosureprocedures, because it ha...