Examples of Mortgage Loan in a sentence
A person who is liable under a note secured by the Mortgage but who does not have a present ownership interest in a Residence subject to the Mortgage Loan need not meet the First Time Homebuyer Requirement.
The documents executed in connection with an assumption shall provide for an acceleration of the Mortgage Loan if the Mortgagor sells, or otherwise transfers any interest in the property or fails to occupy the premises as a principal residence without prior approval of the Servicer.
The Acquisition Cost of a Residence secured by a Mortgage Loan as shown by the actual amounts paid or to be paid by the Mortgagor, whichever is higher, must not exceed the Maximum Purchase Price as determined by the Authority from time to time for the county, or portion thereof, in which the Residence is located, unless the Authority indicates otherwise in writing.
Copies of relevant documents related to the FHA Mortgage Loan Documents shall be provided to Agency for its review and consent not to be unreasonably withheld, conditioned or delayed and final copies of all executed FHA Mortgage Loan Documents shall be delivered Agency after Close of Escrow.
The Mortgage Loan must be made to Eligible Borrower(s) who did not have a mortgage (whether or not paid off) on the Residence securing the Mortgage Loan at any time prior to the execution of the Mortgage Loan.