If the administrative agent either will not or cannot act for the second-lien lenders, the borrower
has to identify who will represent them.
The Department of Education offers an online forbearance application for students with Direct Loans that asks why the borrower
is requesting the forbearance and if the borrower
wants to temporarily stop payments or reduce them.
Adjustable rate mortgages, where the borrower
's payments may adjust after a period of time, are more risky If interest rates go up, the borrower
may not be able to afford the higher payment.
The issuer is the governmental agency issuing the bonds, and the conduit borrower
may not receive notice of the audit for many months.
The program has 12 volunteers and 16 borrowers
, with room for more, Aronoff said.
The terms a borrower
will ultimately receive will be a direct function of both the financial professional's capabilities and the borrower
's due diligence.
For example, lenders usually require a borrower
to purchase mortgage insurance from a public or private mortgage insurer if the down payment is less than 20 percent of the home's appraised value.
Submitting inaccurate data is a good way to disqualify yourself as a borrower
Though not cited in the case, the Tax Court has allowed at least one borrower
a deduction for interest paid in excess of the "cap"; see Fourth Financial Corp.
In other words, if Donald Trump were an REA borrower
, he'd be able to get financing for a fourth money-losing casino in Atlantic City.
Most notably, borrowers
with Parent PLUS or GradPLUS loans through the Direct Loan program might already have a low fixed rate.
High-volume intermediaries have the leverage to provide borrowers
with the broadest selection of small loan mortgage alternatives.