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Gelt doesn't have a minimum credit score; however, the borrower must have an overall good credit history and show willingness to pay their debts. Gelt also has a "Hard Money Loan" program that does not focus on the borrower's credit.
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Yes. Please check with the current lender to establish what they require to discharge an existing mortgage. Most financial institutions simply require their specific discharge authority form to be completed and signed by each borrower.
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Short Sales are a benefit to consumers because they stop mortgage foreclosure and prevent the lender from suing for deficiency. Deficiency is the difference between what the lender would have received under the contract and what the property
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(back to top) The highest credit score a borrower can have is 850.
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The filing of bankruptcy by a mortgagor has become a common response to a foreclosure proceeding. The mortgagor may file a voluntary petition under the Bankruptcy Code and become a debtor under Chapter 7 (liquidation), Chapter 11 (reorganization),
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Yes, a borrower may receive multiple loans each collateralized by individual ABS collateral, subject to the TALF minimum loan size of $10 million. For example, on the same day, a borrower could borrow $12 million collateralized by student loan ABS
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Yes; Any payments that a mortgage broker receives from the negotiation of mortgage must be disclosed.
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There is no right to sue a borrower for a deficiency judgment if the property at issue is a single family dwelling or a multi family dwelling with fewer than four units and the property is less than 40 acres in size. Commercial or agricultural
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A high risk personal loan is designed for a specific type of borrower: Individuals who have either less than the optimal track record with regards to credit or generally difficult financial situations tend to be considered a high risk borrower.
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Reporting of the transaction is optional. If the transaction is reported, the lender uses code '8' ("preapproval request approved but not accepted") under "type of action" and code '1' ("preapproval was requested") under "request for preapproval."
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