The discharge of a mortgage means that the borrower no longer is obligated to make further payments on the loan. A discharge can be the result of the mortgage being paid in full or refinanced by the borrower. A mortgage also can be discharged if the borrower files for bankruptcy. Mortgage ...
Mortgage terms, including the interest rate and repayment period, can be fixed or variable, depending on the agreement between the borrower and lender. 12 What legal rights does a lender have with collateral? A lender has the right to seize and sell the collateral if the borrower defaults on...
To grant or convey, as property, for the security of a debt, or other engagement, upon a condition that if the debt or engagement shall be discharged according to the contract, the conveyance shall be void, otherwise to become absolute, subject, however, to the right of redemption. Note ...
This allows developers to purchase all the property with one loan, and as each smaller parcel is sold, that portion of the blanket mortgage is discharged. Builders who are working on several projects also use blanket mortgages. The blanket mortgage can be used to finance several properties at...
We’ll work with you to understand the issues affecting your ability to pay.From there, we can explore what assistance may be available to you and if you qualify for assistance. Please review our mortgage assistance options detailed below. If you need assistance, please contact us at1-800-724...
M&T Bank may be considered a debt collector. M&T Bank is attempting to collect a debt and any information obtained will be used for that purpose. To the extent your original obligation was discharged, or is subject to an automatic stay of bankruptcy under Title 11 of the United States Code...
Chase's Mortgage Dictionary defines important terms around mortgages, refinances, home equity, and more! Learn more about homebuying and homeownership here.
You must demonstrate to the potential lenders that what happened in the past won’t happen again in the future. So if you’re thinking about getting a mortgage post-bankruptcy, lenders will want answers to the following questions: How long have you been discharged? Securing a mortgage will ...
After the mortgage broker has all the important details, they can determine what will work best in the situation. This may include setting an appropriate loan amount,loan-to-value, and determining which loan type would be ideal for the borrower. ...
It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page....