Most mortgages have a due-on-sale clause, which gives the lender the right to ask for payment in full if the owner sells the home without paying the loan off. Unless prohibited by federal law, the lender can call in the loan any time it feels that it is in it's best interest to ...
The due-onsale clause gives the lending institution the right to demand the borrower's capital gain as a prepayment penalty. In order to increase the probability of prepayment, it can be optimal for the bank to accept a partial settlement. In this paper, we analyze t...
A definition of the term "due on sale clause" is presented. Most mortgages contain a clause that says that if the property is sold to another person withou... Roark,Bill,Ryan - 《Concise Encyclopedia of Real Estate Business Terms》 被引量: 0发表: 2006年 The Due-On-Sale Clause: A Mar...
they leave it in their name for the first few years as you make loan payments. This lets them keep their old mortgage open with no fear of it being called based on the due on sale clause. When you pay down your seller financing
“due-on-sale” clause, which would allow the original lender to accelerate its note or “call the note due.” If either of those things happens (the first mortgage does not get paid or the first lender accelerates the note), thenthe lender could foreclose on the property, which would ...
During the 60-day period beginning on the effective date of transfer of the servicing of any mortgage loan, if the transferor servicer (rather than the transferee servicer that should properly receive payment on the loan) receives payment on or before the applicable due date (including any grac...
When current interest rates are higher than an existing mortgage's rates, assuming a loan may be the favorable option. Also, there are not as many costs due at closing. On the other hand, if the seller has a considerable amount of equity in the home, the buyer will either have to pay...
and this is due to the new mortgage law, which allows the customer to change the currency of payment at any time. This situation is complex for banks, as it involves taking on a lot of risk due to currency fluctuations, which has led many banks to limit themselves to granting mortgages....
Due Date: With respect to each Remittance Date, the first day of the calendar month in which such Remittance Date occurs, which is the day on which the Monthly Payment is due on a Mortgage Loan, exclusive of any days of grace. Exchange Act: The Securities Exchange Act of 1934, as ...
Repayment schedule: The schedule for making payments, including the amount of each payment and the due date. Security interest: The property that is being used as collateral for the loan, and a description of the lender’s rights in case of default, typically a foreclosure. Payment default pro...