191 Sentences With "second mortgage" | Random Sentence Generator

I finger dresses I'd need a second mortgage to buy.

Take out a second mortgage, sell your first-born, get a loan from Michael Cohen.

"You have to take out a second mortgage to go see the Canadiens," he said.

We were able to get a silent second mortgage equal to 2.5 times our down payment.

They come from employers — risk-takers, people ready to take a second mortgage to start a business.

I refinanced five times, rolling that second mortgage into one and lowering my interest rate each time.

It's now so expensive on Discogs you'll need a second mortgage to even get a sniff. 5.

Taking a second mortgage For parents thinking about financing a college education by cashing out equity in their house with a second mortgage, there will be consequences for holding on to the large stash of cash in your bank account – not to mention interest costs to the loan.

My husband and I ultimately took out a second mortgage on our home to pay for the procedure.

"Maybe I'll take out a second mortgage so I can buy a drink with an umbrella," he said.

Does Intel care if every performance desktop junkie takes out a second mortgage to buy its crazy new chip?

Luckily, you don't have to take out a second mortgage just to be able to fund business school tuition.

Though once you start totaling up that Apple shopping cart, you may need to look into a second mortgage.

I actually took out a second mortgage on that house, and pooled my funds with another former pro skater.

Have you always wanted a Dyson bladeless fan, but can't justify taking out a second mortgage to buy one?

You'll have to take out a second mortgage for fondant, but hey, the cement-like coating is très French.

Law school was a blast, but it's no fun paying essentially a second mortgage every month for the foreseeable future.

And all things being equal, I'd prefer it if those things didn't require me to take out a second mortgage.

A home equity loan works like a traditional second mortgage: It's borrowed at a fixed rate for a specific period.

As the verbose name suggests, the device sports 5G connectivity, likely at a price that won't require a second mortgage.

He scraped together all the money he had to come up with the first $1 million, even taking out a second mortgage.

He's talking up the numbers, big time, and the fact that he had to take out a second mortgage on the farm.

Sadly, to get the full experience—the 22-course grand omakase—you'll need to take out a second mortgage, but it's worth it.

Homeowners can apply for a federal loan to cover the cost of rebuilding, which effectively means taking out a second mortgage on their homes.

Home equity loans and HELOCs — both of which are commonly called a second mortgage — allow you to borrow against the value of your home.

Even if other people fall for the story, that doesn't mean you should be taking out a second mortgage to bet on it, too.

I had bought a new house, based on the prospect of "Armageddon Rag" being successful, and I had to take out a second mortgage.

The process effectively involves two loans — one to cover the purchase of a home, and a second mortgage that effectively covers the renovation work.

The first two mechanisms are all variations on the second mortgage, which allow a homeowner to borrow money against the value of their house.

Our city had a program that gave us a silent second mortgage, which means that we don't have to pay it off until we sell.

Years later, Kearney's mother would read a novel in which parents take out a second mortgage to finance the Olympic aspirations of their gymnast daughter.

Ask your boss for a loan, load up on your credit cards, or put up your house as collateral by taking out a second mortgage.

Home-equity loans — a traditional second mortgage, typically made at a fixed-interest rate — may be more palatable than lines of credit as rates rise.

"I cashed out my nest egg from my options, I maxed out my credit cards, I took out a second mortgage on my house," Tucker says.

"I had a house that was was all I had at the time, and I took a second mortgage that let me borrow $20193,000," he said.

They also charge very quickly via USB-C, and they look stylish enough to scream "luxury" without forcing you to mull taking out a second mortgage.

She got into a lot of house debt with a second mortgage on their old house, and was making minimum wage in a very expensive state.

Through it all, this nice Jewish girl from Brooklyn kept her marriage together, and her husband even agreed to take out a second mortgage for her business.

If you need space for a family, the Model X is a better choice — though clearly you have to be prepared to take out a second mortgage.

Through a lot of trial and error, I believe I've put together a very respectable adventure photo kit, and it's one that (probably) won't require a second mortgage.

The idea of waiting years to save up or having to take a second mortgage out on their home so they can have a family leaves them frustrated.

This is particularly important for families that tap their assets, including their 401(k), or take out a second mortgage or home equity loan to cover those expenses.

I can tell you one thing for sure: It's definitely not worth taking out a second mortgage on your house or liquidating your 401(k) to buy bitcoin.

Lines of credit, or Helocs, however, are more complex to manage than a traditional second mortgage and come with variable interest rates, typically tied to the prime rate.

Moreover, a new set of companies, Oculus (now part of Facebook), HTC and Sony, have come up with products that do not require a second mortgage to afford.

As far as the pricing on the 21786198G version, well, your guess is as good as ours — but it might be time to start looking into a second mortgage.

As somebody whose newspaper career lasted long enough to get a second mortgage and run for the Senate, I assure you that both absolute attitudes are both absolutely wrong.

In addition, under the terms of our second mortgage from the city, we don't have to pay back the loan if we live in our home for 30 years.

A real concrete example is, does your family own a home and have good credit such that they can take out a second mortgage to help you go to college.

Since the loans behind a second mortgage, home equity lines of credit (HELOCs) and home equity loans, use your home as collateral, they may also be easier to qualify for.

She sounds tired, her voice slightly raspy with age, as she recalls taking out a second mortgage on her home to pay for the lawyer to appeal her son's sentence.

So you get a little piece of that, you get a little taste of it without having to take out a second mortgage or something in order to pay for it.

I managed to tell them I had two flat tires and couldn't figure out how to get the car back to Brooklyn without taking a second mortgage out on my apartment.

Now for the bad news: Even the nosebleed seats are pricey, and buyers considering spots closest to the action may need a second mortgage —or a rich relative—to afford them.

They can rack up medical bills under someone else's name, open new credit card accounts and never pay the bills, or even take out a second mortgage on a victim's home.

They took out one loan equal to 80 percent of the purchase price, and another loan for 10 percent — something that has traditionally been called a piggyback loan or a second mortgage.

Senior citizens with good credit and enough income to make monthly payments should look into cheaper alternatives, such as a home equity loan or a second mortgage, before even considering reverse mortgages.

Tesla plans to offer financing in late 2017, but in the meantime, customers can finance with a personal loan, a home improvement loan, a home equity line of credit, or a second mortgage.

The new notes will also be secured by a second mortgage ('hipoteca de segundo grau') on 50.1% of GBS' interest in Parque Shopping Maia; collateral coverage is estimated at about 2.0 to 1.0.

For example, while a couple might be able to save $30,000 per year for the next few years, that figure could increase to $40,000 per year once a second mortgage is paid off.

But look past the painstakingly sewn sequins, feathers, and crystals on the supermodels sauntering down the runway, and you'll find something that you can wear without taking a second mortgage out on your house.

Instead, she's left with no option but to match her investor with an equal investment of her own, taking out a second mortgage on her home and parting with all of her life savings.

Indeed, Hawk says he even took out a $40,000 second mortgage on that house at one point to help finance the Birdhouse skateboard brand that he founded with fellow skater Per Welinder in 1992.

A HELOC is a second mortgage that works sort of like a credit card; use this line of credit used to pay for things, then pay back the borrowed money plus interest each month.

For now, it's got the best processor to run a revamped Wear OS, the design is sleek and exercise-friendly, and you're not going to need a second mortgage on your house to buy one.

As a mortgage broker he sees the impact of more risk-averse lenders, he said, with many more calls from buyers who need a second mortgage because the first one no longer covers their bid.

For years, when its government was faced with bills it could not pay, Puerto Rico issued new bonds to get the money — a little like a homeowner taking out a second mortgage to buy groceries.

With an 20.75-21.75-280 loan, the primary mortgage covers 210 percent of the loan value; a second mortgage, often called a piggyback, covers 210 percent; and the other 203 percent is the down payment.

It may simply be the second mortgage guy gets wiped out and the first takes less of a beating, but really the Canadian housing market would be at risk, there is no question in my mind.

To make up for the appraisal shortfall, a borrower is encouraged to simultaneously take out a second mortgage to cover the difference between the purchase price of the home, related rehab costs and the first mortgage.

Even if you have no desire to prolong your mortgage payments or add to the debts you have, there are plenty of good reasons to borrow against the equity in your home — commonly called a second mortgage.

So, about that second mortgage... Related Video: Read More:This Weird Gadget Is Going To Change The Way You Do Your HairUnder-$15 Shampoo & Conditioners The Pros Actually Swear By"Hair Dusting" Is The Secret To Healthier, Longer Hair

This video is excellent, perfectly parodies the show (watch for the Clark Kent as Aaron Burr bit), and costs less than either Batman v Superman ($15-$20) or Hamilton (your firstborn and a second mortgage on your house).

The first mortgage is for the appraised value of the home; the second mortgage, which has a limit of $75,000, closes the gap between the home's sale price and its appraised value, while also covering the cost of renovations.

While families do need to engage in the process and attend tournaments and showcases, they do not need to do it all the time, nor should they take out a second mortgage on the house to pay for it.

" He says families and loved ones have been told by unscrupulous rehabs their loved one will die if they don't take a second mortgage on their house immediately, to pay $40,000 for them to be shipped away and "fixed.

Through the program, Detroiters can receive two loans: The first mortgage is for the appraised value of the home, while the second mortgage, which has a limit of $75,000, closes the gap between the home's sale price and its appraised value and covers the cost of renovations.

"This is a great option for those borrowers that have high bonus or commission income who eventually want to pay off the second mortgage down the road and end up with just one mortgage," said Deb Klein, a loan consultant at Caliber Home Loans in Chandler, Ariz.

Through the program, Detroiters can receive two loans: The first mortgage is for the appraised value of the home, while the second mortgage, which has a limit of $75,000, closes the gap between the home's sale price and its appraised value and covers the cost of renovations.

The address is listed on Messer's driver's license and is where he is registered to vote, according to the AP. However, Messer has not been listed on the water bill since May and has not been listed as the "borrower" on a second mortgage taken out on the home.

Reconsider that home equity line of credit Although the renovations that you were going to use the HELOC money for aren't likely to happen in the very near future, if you were considering a HELOC or taking out a second mortgage, now might be the time to investigate your options.

While she didn't have to file for bankruptcy, like Ms. Henry did, she did sell her Ford Thunderbird to pay off her daughter's college debt and some of her own legal fees after she was investigated by the F.B.I., and she had to get a second mortgage to cover debt left behind by her husband.

During the campaign and then in the White House, their relationship developed and deepened, to the point that, in 2014, when Biden considered taking out a second mortgage to help pay for his son Beau's brain cancer treatments, Obama told him not to and that, if necessary, he would give Biden the money himself.

They've gotten affordable enough, and small enough, that a DIY home hobbyist can add it to their toolset without taking out a second mortgage or needing much more than some desk space… but they're still a rare enough machine that saying "I've got a laser cutter!" makes people look at you like you're a friggin' wizard.

ANNOUNCES ACQUISITION OF HYATT CENTRIC ARLINGTON * SOTHERLY HOTELS INC - DEAL FOR ‍AN AGGREGATE PURCHASE PRICE OF $79.7 MILLION * SOTHERLY HOTELS - UNIT OF OPERATING PARTNERSHIP, SOTHERLY HOTELS LP, ACQUIRED 318-ROOM HYATT CENTRIC ARLINGTON LOCATED IN VIRGINIA * SOTHERLY HOTELS - AS A PART OF DEAL, CLOSED ON NEW $57.0 MILLION FIRST AND SECOND MORTGAGE WITH FIFTH THIRD BANK TO PARTIALLY FUND DEAL Source text for Eikon: Further company coverage:

That's a reflection of Steele himself, a genial man who grew up in Cleveland as the son of Marine Corps sergeant, who began toying with power rankings while still in elementary school, who bought a print shop in 1984 with money from a second mortgage his parents took out and slept for several years on a couch in that same print shop, and who lost money for seven years before putting out his first magazine in 1995.

Both involve obtaining a primary mortgage for 80% LTV. An 80/10/10 program uses a 10% LTV second mortgage with a 10% downpayment, and an 80/15/5 program uses a 15% LTV second mortgage with a 5% downpayment. Other combinations of second mortgage and downpayment amounts might also be available. One advantage of using these arrangements is that under United States tax law, mortgage interest payments may be deductible on the borrower's income taxes, whereas mortgage insurance premiums were not until 2007.

In the case, the borrower entered into a mortgage over his land which was expressed to "secure the sums due and which shall from time to time become due" to the bank. Later, the borrower granted a second mortgage in favour of another creditor. Notice of the second mortgage was given to the bank. The borrower was later declared bankrupt, and a dispute arose as to the priority of the bank with respect to advances which were made under the first mortgage after it had received notice of the second mortgage.

This rule states that any refinance that occurs within 12 months of a second mortgage (that was not part of the original purchase transaction) is considered a cash-out refinance.

It continued to grow, grossing $250,000/year in 1873. Financial trouble plagued many early railroads, and the Connecticut Valley defaulted in 1876 on its second mortgage bonds and was placed in receivership.

There are tax benefits of a second mortgage, such as a deduction for any interest paid on the loan. These are not guaranteed and are based on the tax situation of the borrower.

A second mortgage, just the same as a first mortgage, uses the home as collateral. With this, when a borrower fails to make payments, the lender has the right to foreclose on the property.

However, the second mortgage holder does not want to release its mortgage and re-file, due to additional costs and priority problems, so it will subordinate its lien to the lien of the replacement mortgage.

Weinberg earned a large profit when the second-mortgage bonds were repaid to him. In the process, he learned a wealth of knowledge about the operations of mass transit bus companies and their "hidden" real estate assets.

Borrowing at a lower interest rate and investing the proceeds at a higher interest rate is a form of financial leverage. This is analogous to an individual taking out a second mortgage on his residence to invest in the stock market.

The Court held that the planning consent would have given the vendor "significant benefit" as far as their investment in the second mortgage was concerned. Thus, Moreton and Craig could not unilaterally waive the conditions, as they benefited both parties.

In 1977, Beneficial entered the reinsurance business through its insurance subsidiaries, but this business caused significant financial losses in the 1980s. Beneficial downsized this business and emphasized its second mortgage business. In 1998, the company was purchased by Household International, Inc., for about $8.25 billion in stock.

Provided a line of credit secured by a mortgage, over residential real estate for amounts over $20,000. Maximum amount that could be lent to a customer could be up to 90% of their property's value. This type of credit facility is secured by a first or second mortgage.

A second mortgage comes in many forms, with each type using a home as collateral. Second mortgages are possible because of the equity in the home, which can accumulate by making a down payment at the time of purchase, through monthly payments, and/or through market value increases.

The Second Mortgage is put in place to protect any equity that is left that is not captured in the first mortgage. The homeowners pay down the first mortgage, and after a stated period of time (which varies from affiliate to affiliate) of living in the same home, the Second Mortgage is forgiven (however, it is not always forgiven). However, The Right of First Refusal stays in force until the mortgage is paid in full. Homeowners are usually expected to put approximately 500hours of "sweat equity" into their own or other project homes, although this amount may vary by location, the number of wage-earning adults in each family, and the recipients' health issues.

A subordination agreement is a legal document used to make the claim of one party junior to (or inferior to) a claim in favor of another. It is generally used to grant first lien status to a lienholder who would otherwise be secondary to another party, with the approval of the party that would otherwise have first lien. Typically a subordination arises when there are two existing mortgages, a first mortgage and a second mortgage, and the mortgagor intends to refinance the first mortgage. If the holder of the second mortgage does not subordinate the lien of its mortgage to the new mortgage, the new lender will not refinance the first mortgage.

These transactions left the Ludingtons with plenty of cash. On July 8, 1933, Federal Aviation put Washington Airport up for auction. D.C. attorney H. Rozier Dulany, Jr. (son of the famous Virginia horse breeder) held a $255,000 first mortgage against the property and the Ludingtons held a $160,000 second mortgage, payments on which Washington Airport was unable to make.

The Virginia General Assembly authorized the railroad to issue additional bonds in an act approved March 4, 1880 in order to extend the terminal facilities at West Point. A second mortgage, dated November 10, 1880 to secure $500,000 of bonds due November 1, 1900, later extended to November 1, 1910, was given to William P. Clyde, Isaac Davenport, Jr. and John Stewart, Trustees.

In 1970, Allan Slaight founded Slaight Broadcasting Ltd. and raised $2.5 million to buy radio station CFGM-1310 AM (previously known under the call sign CJRH and now known as CFMJ:AM 640). Slaight had put a second mortgage on his house and sought out investment partners including Gordon Lightfoot, by guaranteeing them a generous return on investment should they back him.Olijnyk, Zena. 2002.

Unlike Gitt's 1% grade, the largest grade was 1.44% also in Frederick. :The railroad was built with 56lb iron rail, not the 50 recommended by Gitt. 1916 ICC photograph of FPL Frederick Water tower, looking north. On June 12, 1872, Brevet Col, John A. Haydon was paid for completing the road in cash ($800), shares (4 shares) and second mortgage bonds.

Although for years it had been supposed that it was sufficient for the first mortgagee to have either actual or constructive notice of the second mortgage, in Westpac Banking Corporation v Adelaide Bank Limited it was held that constructive notice was not sufficient, and that a first mortgagee could tack future advances unless it had actual notice of the second ranking security.

Even though Wan and Whannell received "better offers" from studios like DreamWorks and Gold Circle Films, they were not willing to chance Wan's directing and Whannell acting in the lead role. In order to finance the film, Hoffman, Burg, and Koules put up a second mortgage on their Highland Avenue headquarters. Saw was given a production budget of between $1 million and $1.2 million.

Distinguishing CLTV from LTV serves to identify loan scenarios that involve more than one mortgage. For example, a property valued at $100,000 with a single mortgage of $50,000 has an LTV of 50%. A similar property with a value of $100,000 with a first mortgage of $50,000 and a second mortgage of $25,000 has an aggregate mortgage balance of $75,000. The CLTV is 75%.

Beyond common law, there are three main kinds of statutory protection. First, the Financial Services and Markets Act 2000 codified a system of licensing for mortgage lenders. The Financial Conduct Authority maintains a Code of Practice and enforces compliance with the threat of license withdrawal. Second, the Consumer Credit Act 1974 empowers the Office of Fair Trading to engage in similar regulation of the second mortgage market.

The rehabilitation of the property after the American Civil War and the construction of the extension of the line between Blue Mountain and Dalton was funded mainly by the sale of consolidated first-mortgage seven per cent bonds and second-mortgage seven per cent bonds. The railroad in Georgia was sold in foreclosure on November 3, 1874 and conveyed to Georgia Southern Railroad Company on March 29, 1876.

The people living around Wardenclyffe noticed the Tesla plant seemed to have been abandoned without notice. In 1904 Tesla took out a mortgage on the Wardenclyffe property with George C. Boldt, proprietor of the Waldorf-Astoria Hotel, to cover Tesla's living expenses at the hotel. In 1908 Tesla procured a second mortgage from Boldt to further cover expenses. The facility was partially abandoned around 1911, and the tower structure deteriorated.

He has given of himself untiringly and unselfishly. Just as an example, in 1974, while planning for a trip to Miami to compete in the American Legion Championship, it became obvious that there wasn't enough money in the budget. Costello quietly took a second mortgage on his house in order to finance the trip. Costello modestly attributes much of his success to having been surrounded by "good people" over the years.

They had to take out a second mortgage of his mother's house in order to fulfill the orders. After being turned down by 27 banks for a loan, his mother used the last of their money to take out an advertisement in the NY Times. As a result of the ad, FUBU made a deal with Samsung Textiles, allowing them to complete their orders. FUBU has earned over $6 billion in global sales.

In 2001, entrepreneur Scott Johnson had an idea for a software package that would allow companies to better manage workflow and communication. After having a workable version of his software, he founded AtTask, along with Abe Knell, Jason Fletcher and Nate Bowler. In July 2001, AtTask released @task, a project management tool designed for businesses. The nascent company was boot-strapped and funded in part by a second mortgage Johnson took out on his home.

In 1977, Beneficial entered the reinsurance business through subsidiaries, but these endeavors led to significant financial losses in the 1980s. Beneficial later downsized its reinsurance holdings and restructured to emphasize its second mortgage business.Hays, Laurie, "Reinsurance Woes Threatening Beneficial," September 2, 1986, and "Beneficial Bid to Sell Unit Faces Hurdles," The Wall Street Journal, January 19, 1987.Nathan, Leah J., "Beneficial Could Give Lending a Good Name Again," Business Week, October 22, 1990.

After leaving Geelong Grammar, Gorton spent a year working on his father's property in Mystic Park. His father then took out a second mortgage to allow him to travel to England and attend Oxford University. Gorton arrived in England in early-1932, and after a period at a "cramming school" passed the exam to enter Brasenose College. He also took flying lessons around the same time, and was awarded a pilot's licence in June 1932.

When production began, Brooks had invested approximately $1.5 million of his own money. As production delays mounted, he invested more, eventually taking out a second mortgage on his home. Brooks was forced to raise an additional $15 million through banks. Brooks was worried the movie could not be saved, so he cut together a 10-minute trailer for the movie in a sci-fi style similar to Star Wars in order to sell to distributors.

The Salt Lake Telegram reported that the state was willing to authorize the loan, adding it to an existing $67,000 debt owed by the canal company on prior loans so long as an existing second mortgage held by the Utah Savings and Trust Company was paid first. A bonding group associated with the canal company paid Utah Savings and Trust the sum of $18,000, clearing the way for the $51,000 loan from the state land board.

Shirley would receive over $300,000 in insurance money for the replacement of the home as well as personal items. Investigators found that the couple had substantial debt, including $63,000 in credit card debt, and were in bankruptcy proceedings. A friend of the couple reported that Mark Leonard had lost $10,000 at the casino approximately three weeks before the explosion. A second mortgage had been taken out on the home for $65,000 in addition to the original mortgage of $116,000.

All transactions were in cash. It was reported that Tsui was active in foreign exchange market, commodities, securities, funds, and margin trading, and had lost a total of HK$371,982 in those investments. Tsui and his wife bought one flat in August 1997, and paid HK$574,800 in cash. Two years later, he bought a flat at Tung Chung Crescent with a HK$396,173 down payment, paying monthly instalments of HK$17,778 for a first and a second mortgage.

This was subsequently surrendered and a second mortgage registered. In an indenture dated 12 November 1857, made between Maurice and Margaret Reynolds and Charles E. Langley and George Stabler, the mortgage was discharged. On his death in 1860, the Harrington Street premises formed part of the insolvent estate of Maurice Reynolds of Burwood. The property included a house and adjoining land facing George Street and various small brick and stone houses in Reynolds Lane (now the Suez Canal).

Strains of a merged world, IndyCar.com, January 9, 2009 and had reportedly merged with Rubicon Race Team, of which Tadevic was listed as a co-owner. However, the deal fell apart, Rubicon became Rubicon Sports Agency and aligned itself with Conquest Racing and Pacific Coast Motorsports filed for Chapter 7 bankruptcy on May 12. As Tadevic had taken out a second mortgage on his home to buy out Figge, the team's bankruptcy resulted in him losing his home.

In addition, the combined loan to value (CLTV) is the sum of all liens against the property divided by the value. For example, if the home is valued at $200,000 and the first mortgage is $100,000 with second mortgage of $50,000, the LTV is 50% while the CLTV is 75%. Naturally, the higher LTV and CLTVs increase the risk of loan. Furthermore, borrowers who contribute significant down payment (lowering the LTV) statistically have lower incidents of foreclosure.

However, after 2017 interest on a HELOC is no longer deductible unless the loan is used for substantial home improvement. Another reason for the popularity of HELOCs is their flexibility, both in terms of borrowing and repaying on a schedule determined by the borrower. Furthermore, HELOC loans' popularity may also stem from their having a better image than a "second mortgage", a term which can more directly imply an undesirable level of debt."Characteristics of a HELOC", MTGProfessor.

Hoover Field was sold just days later. New Standard Aircraft Co. had also been unable to make payments on Hoover Field's mortgages by July 1933."Hoover Flying Field Auction Set Tomorrow." Washington Post. July 30, 1933. The Ludingtons owned a $155,442 first mortgage on Hoover Field, while William Morgan (a D.C. physician) held a second mortgage worth $9,500. The Hoover Field auction was set for July 31. At auction, the Ludingtons bought Hoover Field for $174,500.

The 1997 Phoenix 200 was the fourth round of the 1996–1997 Indy Racing League. The race was held on March 23, 1997, at the Phoenix International Raceway in Avondale, Arizona, and was won by the unheralded Jim Guthrie, who raced unsponsored, owing a big sum of money and having taken a second mortgage on his house. His win, beating IRL stalwart Tony Stewart after leading 74 laps, went down as one of the biggest upsets in the history of Indy car racing.

After his playing career was over, Robinson moved to Miami and attempted to become a property developer in his native Jamaica. He planned to build a 25,000 acre resort in his hometown called Harmony Cove. As part of his bid to attract investors, he persuaded his adoptive mother to take out a second mortgage on her house and lend it to Robinson as seed money. He promised to cover all the payments, and promised to give her $500,000 once the project was finished.

The first mortgage holder from now on is paying a fixed rate to the second mortgage holder while receiving a floating rate. By using a swap both parties effectively changed their mortgage terms to their preferred interest mode while neither party had to renegotiate terms with their mortgage lenders. Considering the next payment only, both parties might as well have entered a fixed-for-floating forward contract. For the payment after that another forward contract whose terms are the same, i.e.

Stephan Crétier (born 8 August 1963) is a Canadian businessman and entrepreneur. He is the founding president and chief executive officer of GardaWorld, one of the largest privately held security providers in the world. Crétier founded GardaWorld in 1995 with an investment of $25,000, which he raised by placing a second mortgage on his home. The company now generates over $3 billion in annual revenues and is one of the largest employers in the security industry, with 102 000 employees worldwide.

Roger explains that he has been giving the horse tranquilizers to hold it back and reduce its odds. But when the horse owner plans to kill the horse in order to prevent further monetary loss, Roger offers to buy it from him. Stan is reluctant at first, but following Roger's promise that the horse is a guaranteed winner, he decides to buy it using his family's second mortgage. Tired of hearing Roger reveal his actions to Francine, Stan thumps Roger's arm.

30 & 38 (2nd Ed. Prentice-Hall, Inc.) The purpose of this priority is to establish the order in which lienholders are entitled to foreclose their liens in order to recover their debts. If a property's title has multiple mortgage liens and the loan secured by a first mortgage is paid off, the second mortgage lien will move up in priority and become the new first mortgage lien on the title. Documenting this new priority arrangement will require the release of the mortgage securing the paid-off loan.

Evelyn is largely isolated because of the hours she has to spend caring for the children, and the lack of local intellectual equals. However, she is contacted by a group of other contest-entering mid-western housewives, and befriends them. Ultimately, Evelyn discovers that Kelly had secretly taken out a second mortgage on their house and never made payments on it, leaving the family subject to an almost-certain foreclosure. The children pray for their mother's miraculous victory in a contest sponsored by Dr Pepper.

In 1982, Residential Funding Company LLC was formed as a subsidiary of Northwest Bank.IN RE: COMMUNITY BANK OF NORTHERN VIRGINIA SECOND MORTGAGE LENDING PRACTICES LITIGATION In 1990, the company was acquired by GMAC Mortgage Corp. In 2005, GMAC (now Ally Financial), a subsidiary of General Motors, transferred ownership of GMAC Mortgage Corporation and Residential Funding Corporation (GMAC-RFC) to Residential Capital Corporation (ResCap) and contributed $2 billion of equity. In January 2007, the company eliminated 1,000 jobs. In October 2007, the company eliminated 3,000 jobs.

The loan may be issued by qualified lenders. The VA loan allows veterans 103.3 percent financing without private mortgage insurance (PMI) or a 20 percent second mortgage and up to $6,000 for energy efficient improvements. A VA funding fee of 0 to 3.3% of the loan amount is paid to the VA; this fee may also be financed and some may qualify for an exemption. In a purchase, veterans may borrow up to 103.3% of the sales price or reasonable value of the home, whichever is less.

But tough yet savvy LAPD Detective Dianne Kershman (Ana Ortiz) sees things differently. She tells Richard and Alex that Jake and Chloe were in fact murdered. Worried the killers must be after the money, they panic and confide in Alex's half-sister, Paige (Carrie Wiita) and her husband, Cooper (James Urbaniak) who are therapists and RX drug dealers. Paige and Cooper realize the money Jake had owed them somehow ended up with Richard and Alex, whom they convince to take out the second mortgage—in cash.

Kudlow describes the financial difficulties that have befallen the band, including his own second mortgage, and bassist Glenn Five's homelessness. Guitarist Ivan Hurd ends up marrying Tiziana, and Anvil plays at the wedding reception as a handful of family members watch politely. Reiner describes his other passion, painting, focusing on themes of solitude. Kudlow notes that recent Anvil albums have not been as well written or produced as earlier efforts, such as Metal on Metal, and sends a rough demo tape to the producer of that record, Chris "CT" Tsangarides.

She was only able to afford the application fee for one college, so after much deliberation, chose Wheaton. Away from her family and in a new setting, King struggled through her first year at Wheaton, ultimately losing her scholarship. Her family worked to support her financially until she turned her grades around, with her uncle taking out a second mortgage on his home and her mother providing emotional support. King eventually secured another scholarship and graduated with honors in 1963 with a Bachelor of Arts in Religion and Philosophy.

The Clearview Golf Club was designed by Bill Powell and was begun in East Canton, Ohio in 1946. As an African American, Powell had faced prejudice when attempting to join other golf clubs in the United States, so he chose to build his own. First, Powell tried to get a GI loan, but was turned down. Powell obtained financial support for his effort to build the golf club from two black physicians and from his brother who took out a second mortgage. With this support, he was able to purchase a 78-acre dairy farm.

The I&L;'s finances appear to have been rocky throughout its short history. As the author of a study on the Pere Marquette Railway noted: > The Ionia and Lansing Railroad (sic) had difficulty in getting sufficient > money to finish its construction and its credit was so bad that it received > $770,000 of cash out of a bond issue with a par value of $1,820,000. Later > on, in order to complete the line, it had to take on a second mortgage on > its property from Lansing to Greenville.Ivey (1919), 251.

The renovations cost $200,000 in total, but because Pettit had taken out a $300,000 second mortgage, he did not have to invest any of his own money. By the time the expansion was completed, tenants were quickly filling up the vacant space. In May 1894, Pettit sold the original Bennett Building, but not its annex, to Theodore A. Havemeyer for $1.5 million. However, the sale fell through following month because of disagreement over whether Bennett Jr. had a right to bid at the sale of his father's estate's properties.

FHA-Secure was a Federal Housing Administration refinancing program to help borrowers avoid foreclosure. It is similar to other FHA loan. FHASecure was a refinancing option that gives homeowners with non-FHA adjustable rate mortgages (ARMs), current or delinquent and regardless of reset status, the ability to refinance into a FHA-insured mortgage. With FHASecure, the lender will not automatically disqualify you because you are delinquent on your loan, and the lender may offer you a second mortgage to make up the difference between the value of your property and what you owe.

Prominent politicians participated in the cornerstone-laying ceremony and among messages read from prominent Americans was a letter from Albert Einstein in which he praised the cultural goals of the building's directors. Horch expended $2,497,164 for land and construction costs. He used $1,790,500 of the mortgage bond issue, $64,500 of a second mortgage, and made up the rest from a loan he himself made. The completed structure had 233 one-room, 63 two-room, and two three-room apartments as well as a penthouse suite of seven rooms.

Opening night was pushed back to 11 May, but Mackintosh refused to postpone the previews as he wanted to dispel the industry rumours that the production was an impending debacle. The development of Cats was also plagued by financial troubles. Mackintosh struggled to raise the £450,000 (US$1.16 million) needed to stage the musical in the West End as major investors were sceptical of the show's premise and refused to back it. Lloyd Webber personally underwrote the musical and took out a second mortgage on his house for the down payment of the theatre.

Often the Servicer will require a new appraisal to determine the LTV. The cost of mortgage insurance varies considerably based on several factors which include: loan amount, LTV, occupancy (primary, second home, investment property), documentation provided at loan origination, and most of all, credit score. If borrowers have less than the 20% downpayment needed to avoid a mortgage insurance requirement, they might be able to make use of a second mortgage (sometimes referred to as a "piggy-back loan") to make up the difference. Two popular versions of this lending technique are the so-called 80/10/10 and 80/15/5 arrangements.

The Griffin family must begin living on a stricter budget. A local news story on the lottery influences Peter to buy a ticket in hopes that he will win and set the family on a better financial platform. Peter reveals to his family that he has bought several thousand lottery tickets, admitting that he has taken out a second mortgage on the house in order to buy them. After watching the results of the lottery that night, they spend three days searching for the lottery tickets, only to discover that the lottery tickets were, in fact, printed by Peter.

Foundation work commenced in May 1909 and finished by October. Moses Greenwood, one of the St. Louis investors who had promoted the project, was simultaneously developing other projects and ultimately ran into financial issues. Two mortgages totaling $1.7 million had been placed on the building: a $1.3 million first mortgage held by the Title Guarantee and Trust Company and a $400,000 second mortgage held by the Bryant estate. The developers went into default in November 1910, when the building was nearly completed; the next month, Harold Gray filed a foreclosure suit against the Liberty-Nassau Building Company.

HSBC Australia held a second mortgage over the Cremorne family home. It was reported that HSBC Australia, as mortgagee in possession, placed a property owned by McGurk, located in Orlando Avenue, Cremorne, up for mortagee sale. At various times McGurk's business associates included Mark Burby, a Jersey businessman, who together with McGurk were allegedly planning to blackmail the Sultan of Brunei following an earlier unsuccessful attempt to sue the Sultan for reneging on a deal to buy a 400-year-old miniature Koran. According to Burby, the blackmail related to "...an ongoing private matter involving one of the Sultan's relatives".

A home equity line of credit, or HELOC (pronounced he-lock), is a loan in which the lender agrees to lend a maximum amount within an agreed period (called a term), where the collateral is the borrower's equity in their house (akin to a second mortgage). Because a home often is a consumer's most valuable asset, many homeowners use home equity credit lines only for major items, such as education, home improvements, or medical bills, and choose not to use them for day-to-day expenses. HELOC abuse is often cited as one cause of the subprime mortgage crisis.

When the clearing house run by J. P. Morgan audited the bank's books, they found the bank was sound, but were quite interested in the Tennessee Coal and Iron Company stock they found and indicated that the stock was not acceptable to them as security. Morgan proposed to buy Tennessee Coal and Iron to "rescue" all involved with the company. He outlined a plan whereby U. S. Steel would change its second mortgage bonds for Tennessee Coal and Iron stock. Because the U. S. Steel bonds were acceptable to the clearing house, they would be able to be used for the debts.

A home equity line of credit is another type of second mortgage, with this in the form of a predetermined amount of money for the borrower to draw from. With this type of loan, the borrower is not required to take any of the money, but they have the right to do so based on their personal requirements. With a line of credit, the lender sets a maximum borrowing limit, which may be increased at the borrower’s request. The borrower is able to borrow and repay the line of credit as many times as they wish.

The purchasers, sensing a big insurance payout for the fire, submitted the following day, a planning consent application with the council, which was later declined. In order to keep the sale agreement going, Moreton and Craig notified Montrose that they were unilaterally waiving their conditions for the purchase and argued the sale was now unconditional. Montrose replied that the conditions were not for the sole benefit of the purchasers, so they were unable to unilaterally waive them, as if the planning consent was granted, it would have improved the security of Montrose's second mortgage in the property. Moreton and Craig sued Montrose.

On March 7, First National's board of directors agreed to form a new company—the Southern Realty Corporation, with Wynne as its president—to buy the Southern Building. On March 10, First National's shareholders were advised to trade their stock on a one-to-one basis for stock in the Southern Building, with any excess proceeds from the sale returning to First National stockholders as a dividend. On May 18, the Walker Company offered to buy the building for $1.8 million (to be paid with a first mortgage of $900,000, a second mortgage of $677,000, and the remainder by First National stockholders who wanted shares in the Walker Company).

A 2007 construction site in the United States According to the official website, There are several checks and balances in place to protect both Habitat and the potential homeowner: Habitat for Humanity performs an extensive background check on potential homeowners, including character references, employer interviews, and audit of finances. The applicants are required to sign release forms authorizing Habitat for Humanity to perform this background check. This ensures that Habitat's risk is reasonable when selling a home and that the applicant family is in a suitable financial position to take on the responsibility of a mortgage. There are typically a First and a Second Mortgage.

Dan and Carter are both facing challenges in their personal lives. Dan is supporting two daughters—16-year-old Jana (Zena Grey) and 18-year-old Alex (Scarlett Johansson) who is preparing to enter college—and learns that his wife is pregnant with their third child. Meanwhile, Carter is dumped by his adulterous, narcissistic wife of seven months and focuses all of his energy on work. With Dan facing the financial realities of taking out a second mortgage, to cover his daughter's college education costs, and a new child, and with Carter needing Dan's practical, real-life experience in the field of advertising, the two form an uneasy friendship.

This > issue, which is backed by ultra-risky second-mortgage loans, contains all > the elements that facilitated the housing bubble and bust. It's got > speculators searching for quick gains in hot housing markets; it's got loans > that seem to have been made with little or no serious analysis by lenders; > and finally, it's got Wall Street, which churned out mortgage "product" > because buyers wanted it. As they say on the Street, "When the ducks quack, > feed them." On September 21, 2008, Goldman Sachs and Morgan Stanley, the last two major investment banks in the United States, both confirmed that they would become traditional bank holding companies.

After the dissolution of the monasteries each of the Forest Hill estates quickly passed through the hands of owners who may have bought and sold former monastic lands as speculative investments. Then Sir John Brome, lord of Holton, bought and reunited the estates: the two parts of the de Lacy estate in 1544 and the d'Ivry estate in 1545. The Forest Hill estate remained in the Brome family for four generations but fell into debt, was mortgaged twice in the 1620s and finally was sold in 1630. From 1621 the house had been let out, and the second mortgage was a loan of £500 from the tenant to the Bromes.

Softalk () was an American magazine of the early 1980s that focused on the Apple II computer. Published from September 1980 through August 1984, it featured articles about hardware and software associated with the Apple II platform and the people and companies who made them. The name was originally used on a newsletter of Apple Software pioneer company, Softape, who in 1980 changed its name to Artsci Inc. The startup capital for Softalk came from Margot Comstock, who had won on the television game show Password, along with a generous contribution after a few months from John Haller and from Comstock and Al Tommervik's second mortgage on their house.

Tabula in naufragio is a legal Latin phrase, literally interpreted as "a plank in a shipwreck". It is used metaphorically, particularly in law, to convey: "when all else has failed, it is the thing that stops (or is intended to stop) you from drowning." It is most commonly used to designate the power subsisting in a third (or subsequent) mortgagee, who took the third mortgage without notice of the second mortgage, and then acquired the first mortgage and attached it to the third mortgage, thereby obtaining priority over the second mortgagee. Without the legal ability to attach ("tack") to the first mortgage, the third mortgage would be worthless.

Steve Jobs of Apple, who had just introduced the Macintosh in January, was shown the original prototype for the first Amiga and stated that there was too much hardware – even though the newly redesigned board consisted of just three silicon chips which had yet to be shrunk down. Investors became increasingly wary of new computer companies in an industry dominated by the IBM PC. Jay Miner, co-founder, lead engineer and architect, took out a second mortgage on his home to keep the company from going bankrupt. In July 1984, Atari Inc. was bought by the recently resigned CEO and founder of Commodore, Jack Tramiel.

Complications in calculating ROI can arise when real property is refinanced, or a second mortgage is taken out. Interest on a second, or refinanced, loan may increase, and loan fees may be charged, both of which can reduce the ROI, when the new numbers are used in the ROI equation. There may also be an increase in maintenance costs and property taxes, and an increase in utility rates if the owner of a residential rental or commercial property pays these expenses. Complex calculations may also be required for property bought with an adjustable rate mortgage (ARM) with a variable escalating rate charged annually through the duration of the loan.

Although Ian was outed as a lesbian in 1976, by the Village Voice, her sexuality was largely ignored until the release of Breaking Silence, when Ian herself brought it to the forefront because of her concern with suicide rates among gay and lesbian teenagers. Decades previous, Ian met Pat Snyder and, after significant financial and health setbacks, they purchased a house together by 1991. They took on a second mortgage to fund the album, as major record labels were no longer interested in Ian's work. "I thought I was only going to get one more chance to record, so I wanted to make it count," Ian said.

But the Embassy officials, thinking they're being set up, refuse the money. So Richard and Alex deposit the cash, find another charity, and end up writing a check to "The Porpoise Purpose," headed by Stuart Hendron (Lance Bass) and his assistant Olivier (Mitch Silpa). Just then, they learn from their Realtor, Logan, (Tom Lenk), that Edendale is now on the market. They really want it but have given the money to the porpoise charity—so they stop payment on the check and use the money as down payment on the house, intending to repay the charity by taking out a second mortgage once escrow closes.

He was introduced to the mass-transit world in 1948, when the Baltimore Transit Company ("BTC") sold inexpensive second-mortgage bonds backed by BTC's real estate and other assets. Once again, he saw that the difference between those assets' "book value" (original cost) and their current fair market value presented him with an arbitrage opportunity to earn a substantial return. Knowing that BTC's real estate was worth far more than reported on BTC financial statements, Weinberg was confident in the repayment of the bonds. His faith in real estate paid off when BTC returned to solvency, paying off much of its debt through the sale of some of BTC's valuable real estate not needed for its transit operations.

Should the new purchaser default on those payments, the seller then has the right of foreclosure to recapture the subject property. Because wraps are a form of seller financing, they have the effect of lowering the barriers to ownership of real property; they also can expedite the process of purchasing a home. An example: :The seller, who has the original mortgage sells his home with the existing first mortgage in place and a second mortgage which he "carries back" from the buyer. The mortgage he takes from the buyer is for the amount of the first mortgage plus a negotiated amount less than or up to the sales price, minus any down payment and closing costs.

In 1975, while at Princeton, Tufte was asked to teach a statistics course to a group of journalists who were visiting the school to study economics. He developed a set of readings and lectures on statistical graphics, which he further developed in joint seminars he taught with renowned statistician John Tukey, a pioneer in the field of information design. These course materials became the foundation for his first book on information design, The Visual Display of Quantitative Information.. After negotiations with major publishers failed, Tufte decided to self-publish Visual Display in 1982, working closely with graphic designer Howard Gralla. He financed the work by taking out a second mortgage on his home.

However, in practice women receive equal amounts of blood money to men through negotiation. Ebadi has also protested that while "the Islamic Revolution had anointed the Muslim family the centerpiece of its ideology of nation" and envisions a "restoration of traditional and authentic values" through women playing the role of "Muslim mother" staying home to care for "her multiplying brood," at the same time its family law automatically grants fathers custody "in the event of divorce," and makes "polygamy as convenient as a second mortgage."Ebadi, Iran Awakening, (2006) p.123 However, polygamy is rare in Iran, it must receive a court order, and the husband must "treat all of his wives equally" otherwise he could face divorce.

This type of refinance may not help lower the monthly payment or shorten mortgage periods. It can be used for home improvement, credit cards, and other debt consolidation if the borrower qualifies with their current home equity; they can refinance with a loan amount larger than their current mortgage and keep the cash out. In situations where the borrower has both a first and second mortgage, it is common to consolidate these loans as part of the refinance process. However, even if the borrower does not receive any net "cash out" as part of the transaction, in some cases lenders will consider this a cash-out transaction because of the "12-month rule".

40 Wall Street had opened following the Wall Street Crash of 1929, and so suffered from a lack of tenants. Many of the original tenants had withdrawn their commitments to rent space in the building, and in some cases, had gone bankrupt. As a result, only half of the space in 40 Wall Street was leased during the 1930s. Office space rented for , rather than the that the building's owners had sought. For the first five years of the building's existence, the 40 Wall Street Corporation was able to pay the $323,200 interest on the second mortgage-bond issue. By early 1939, the 40 Wall Street Corporation was falling behind on rent payments, ground leases, and property taxes.

In the owner-occupied housing market, a fall in the market value of a mortgaged house or apartment/flat is the usual cause of negative equity. It may occur when the property owner obtains second-mortgage home equity loans, causing the combined loans to exceed the home value, or simply because the original mortgage was too generous. If the borrower defaults, repossession and sale of the property by the lender will not raise enough cash to repay the amount outstanding, and the borrower will still be in debt as well as having lost the property. Some US states like California require lenders to choose between going after the borrower or taking repossession, but not both.

The rehabilitation of the property after the American Civil War and the construction of the extension of the line between Blue Mountain and Dalton was funded mainly by the sale of consolidated first-mortgage seven per cent bonds and second-mortgage seven per cent bonds. The railroad in Georgia was sold in foreclosure on November 3, 1874, and conveyed to Georgia Southern Railroad Company on March 29, 1876. The Georgia Southern Railroad Company was sold to East Tennessee, Virginia and Georgia Railroad Company on November 6, 1880. The railroad in Alabama was sold at foreclosure on June 14, 1880, and sold to East Tennessee, Virginia and Georgia Railroad Company on February 5 and 11, 1881.

Montrose owned a fire damaged villa on a 3/4 acre section in Tauranga. After being unsuccessful in selling the property at auction, they later on 24 February 1981, it entered into a conditional sale agreement with Moreton and Craig for $215,000, which Montrose was to provide a 60% second mortgage to finance the deal. The conditions of the offer to purchase was that a feasibility study be done regarding converting the property into either a hospital or a rest home, as well as obtaining the necessary council planning consents. However, the very night of the sale, a second fire broke out on the property, destroying what was left of the villa.

Lord Denning MR found that the contract was voidable owing to the unequal bargaining position in which Bundy had found himself, in that he had entered into the contract without independent advice and that unfair pressures were exerted by the bank. Essentially, the court ruled that only the bank benefitted from the agreement to raise the amount of the mortgage, and that it had exploited Bundy's weakness. The transaction was found to be unconscionable and Bundy only had to honor the lower mortgage amount. It is notable that Denning's judgment did not represent the law in National Westminster Bank plc v Morgan, in which a family home was likewise subjected to a second mortgage to secure a loan on the husband's business with Abbey National Bank.

One of five staff at the Institute of Contemporary Arts in Dover Street London, and one of 36 after it moved to The Mall, Davies experienced its period of anarchic management and overrun budget. She decided to rectify the lack of a permanent gallery space for photography as a serious art form, encouraged by the success of Bill Jay's 'Do Not Bend Gallery' which he opened in 1970, though he did not show photography exclusively. On 14 January 1971, bankrolled by a second mortgage on her house, she launched such a gallery in a derelict J. Lyons tea room which she had been in the habit of visiting after jazz sessions. Deciding against the title 'Photography Gallery', in a democratic spirit she named it The Photographers' Gallery.

In effect, this section of the Act establishes national underwriting standards for residential loans. It is not the intent of this section to establish rules or regulations that would require a loan to be made that would not be regarded as acceptable or prudential by the appropriate regulator of the financial institution. However, the loan originator shall make a reasonable and good faith effort based on verified and documented information that "at the time the loan is consummated, the consumer has a reasonable ability to repay the loan, according to the terms, and all applicable taxes, insurance (including mortgage guarantee insurance), and other assessments". Also included in these calculations should be any payments for a second mortgage or other subordinate loans.

Although things improve when Lola tones down her personality and starts making friends, matters take a turn for the worse when Charlie is invited to showcase the new boots in Milan; the strain he puts on his employees causes most of them, including Lola, to walk out. Charlie's fiancée arrives at the factory, furious that he took out a second mortgage on their house to save the company. Nicola insists that he sell the company, but Charlie is determined to save it and the jobs of his employees. The argument (which ends with Nicola leaving Charlie) is broadcast on the factory's PA system, which is overheard by Lauren and Lola's bitterest opponent at the factory, Don, a chauvinistic male worker.

This means that like ordinary negligence actions, the common law requirements for proving causation of loss apply, and the remedy for breach of duty is of compensation for losses rather than restitution of gains. In Mothew this meant that a solicitor (who occupies a fiduciary position, like a trustee) who negligently told a building society that its client had no second mortgage was not liable for the loss in the property's value after the client defaulted. Mr Mothew successfully argued that Bristol & West would have granted the loan in any case, and so his advice did not cause their loss. The duty of care was codified in the Trustee Act 2000 section 1, as the "care and skill that is reasonable" to expect, regarding any special skills of the trustee.

Coincidentally, during transit to his home, his car runs over Gonzalo Gonzalez (Jaime Camil), an actor and drama teacher who is physically almost identical to Martin, and Franco asks Gonzalo to supplant Martin in exchange of a large sum of money. Gonzalo accepts, pressed for a second mortgage, and after signing a contract that neither he nor his manager had read, he begins to replace Perez. Gonzalo, with his new life as Martin discovers that the Perezes are a couple only in front of the cameras and in public appearances, but in private they have separated lives. Martin is gay and his partner is Tomas Arana (José Ron), son of the owner of the channel, while Sol (Ludwika Paleta) is having an affair with Diego Planes (Marco Méndez), a chronicler of Global News.

After Kyle is called to the principal's office, he finds Mr. Mackey there instead who tells him that PC Principal has lost his mind, with him and his fellow fraternity members going on a hunger strike and that Jimmy and Leslie have both gone missing. Meanwhile, Jimmy explains about how ads have evolved over time, becoming smarter and taking human form, in which Leslie is one of them. Randy and his family are eating dinner when Randy proposes that the family move out of South Park because it "sucks" now without elaborating. After dinner, Randy explains to Sharon that ever since South Park's revitalization, it has become too expensive to live in and he has taken out a second mortgage on the house to help pay for the expenses.

In 1989, Snyder and his sister Michele founded a wallboard advertising (the sale of advertisements placed on boards inside buildings) company with seed money from his father, who took a second mortgage on his property in England, and his sister, who maxed out her credit cards at $35,000. They concentrated on wallboards in doctors' offices (where there was a captive audience) and colleges. They married the advertisement with the distribution of product samples – such as soaps and packages of medicine – to differentiate themselves from their competitors. The company was named Snyder Communications LP. The business was a great success and Snyder and his sister grew the business organically and through acquisitions and expanded its activities to all aspects of outsourced marketing, including direct marketing, database marketing, proprietary product sampling, sponsored information display in prime locations, call centers, and field sales.

In April, John H. Devereaux was hired by James McHenry to become general manager of the Atlantic and Great Western; he was an experienced railroad executive, and McHenry badly needed the involvement of a respectable figure to lend legitimacy to his projects. In September, he was informed by the company treasurer that the revenue from those leased line bonds had been diverted in March to pay interest on the second mortgage bonds of the Atlantic and Great Western. This lack of funds meant that construction was not completed on the Pennsylvania Petroleum and the Pithole Valley railroads. The Atlantic and Great Western's involvement with these leased lines meant that most of the Pithole Valley's officers and directors were replaced by those of the Atlantic and Great Western; Devereaux assumed the presidency, while Steele became vice-president.

Mr Mothew was a solicitor who had acted for both borrower and lender in a mortgage transaction relating to the purchase of a residential property. It was alleged that he negligently told the building society that there was no second charge on the house when the mortgage agreement was signed. At the time of reporting to the building society and requesting its funding, unbeknown to Mr Mothew, the borrower had a relatively small bank overdraft facility limited to £2,000. After completion of the purchase and mortgage (at which time the lender's funds were applied to the transaction) but before the transactions were registered at Land Registry Mr Mothew was approached by the borrower's bankers [Barclays] to say that they were granting a second mortgage facility to the borrower and seeking that their second charge be registered at Land Registry.

Other tenants included the People's Surety Company of New York, as well as the Gray Construction Company. The building was considered "well rented" by 1916, but the Liberty-Nassau Building Company still had financial issues. That year, Title Guarantee and Trust filed a foreclosure suit against Liberty-Nassau, and the building was sold at auction for $1.8 million to the Garden City Company, which held the second mortgage. In 1917, an office was leased as cover for German spies seeking to prevent America's intervention in World War I. The plot involved an attempt to draw the United States into a diversionary war with Mexico and Japan. It was exposed on March 1, 1917, with news reports of an intercepted telegram decoded by British cryptographers known as the "Zimmermann Telegram", which prompted President Woodrow Wilson to declare war against Germany a month later.

In Toms River, New Jersey, the Marshalls — Rob (Urich) and Maria (Kerns), and their three sons, 18-year-old Roby (Barry Gray), 17-year-old Chris (Jay Underwood) and 12-year-old John (Johnny Galecki) — are an apparently happy family living the American Dream. But in September 1984, Maria is shot and killed, and Rob claims she was murdered by a robber while he was changing a flat tire. When the police commence their investigations, however, they discover unsettling truths about the Marshalls: Rob has secretly accumulated an enormous debt and has secured a second mortgage of $100,000 in Maria's name, and is having an affair with a married neighbor, Felice Richmond (Robin Strasser). Maria had known of the affair, and had considered divorce but decided to work on their marriage shortly before she was killed.

In early September 1907, demands by creditors forced the Klamath Lakes Navigation Company into receivership. W.R. "Bill" Davis agreed to pay off the company’s debts, then about $10,000, and as security he was given a second mortgage against the company’s assets and was given control of the company. On November 27, 1908, Klamath was mortgaged to the Ladd and Tilton bank, and William R. Davis, to secure the payment of a promissory note in the amount of $8,100 payable to the bank, due in one year, with annual interest of 8%, executed by the Klamath Lake Navigation Company in favor of the bank on November 12, and a similar note, executed in favor of William R. Davis, in the amount of $5,000. The company fell behind in its payments on the debt to the bank and Davis.

Hypothecation is a common feature of consumer contracts involving mortgages the debtor legally owns the house, but until the mortgage is paid off, the creditor has the right to take ownership (and possibly also possession) but only if the debtor fails to keep up with repayments. If a consumer takes out an additional loan secured against the value of his mortgage (known colloquially as a “second mortgage”, for up to approximately the current value of the house minus outstanding repayments) the consumer is then hypothecating the mortgage itself the creditor can still seize the house but in this case the creditor then becomes responsible for the outstanding mortgage debt. Sometimes consumer goods and business equipment can be bought on credit agreements involving hypothecation the goods are legally owned by the borrower, but once again the creditor can seize them if required.

The next year, Marcos was forced out of office and his assets within U.S. banking channels were frozen, and the building's future became uncertain. Capital improvements to the building were suspended while legal proceedings were ongoing; at the time, the building was slated for several improvements, including upgrades to its unreliable elevators. A federal judge ordered a foreclosure sale of the Marcos properties in August 1989, and at the court- ordered auction, the Bernsteins submitted the winning bid of $108.9 million; a second mortgage with Citicorp comprised $60 million of this total. The Bernstein brothers could not pay anything else other than the $1.5 million down payment for 40 Wall Street, which led to a second auction in November 1989, where Jack Resnick & Sons submitted the winning bid of $77,000,100. Burton P. Resnick decided to undertake a $50 million renovation of 40 Wall Street the next year.

Ford shared their engineering design of the track with Moneypenny, providing the needed details of how to transition the pavement from a flat straightaway to a banked corner. France took the plans to the Daytona Beach city commission, who supported his idea and formed the Daytona Beach Speedway Authority. The tri- oval after the 2010–2011 repaving The city commission agreed to lease the parcel of land adjacent to Daytona Beach Municipal Airport to France's corporation for $10,000 a year over a 50-year period. France then began working on building funding for the project and found support from a Texas oil millionaire, Clint Murchison, Sr. Murchison lent France $600,000 along with the construction equipment necessary to build the track. France also secured funding from Pepsi-Cola, General Motors designer Harley Earl, a second mortgage on his home and selling 300,000 stock shares to local residents. Ground broke on construction of the speedway on November 25, 1957.

The gap documents usually state unequivocally that, in the event the rent-roll requirement is not met during the rent-roll period, the permanent lender still retains the right on demand to purchase the gap note and discharge of record any second mortgage held by the construction lender. The borrower normally assigns to the construction lender all funds that would otherwise be payable to the borrower in the event the rent-roll requirement is met, with the construction lender agreeing to reassign to the borrower all funds that would be payable pursuant to the rent-roll requirement at such time as the gap loan note is paid in full. In addition, the permanent lender usually requires that the temporary lender and borrower agree that no funds will be disbursed under the gap documents, except at the closing of the permanent loan. Normally, the permanent lender's rent-roll requirement involves a period that runs from one to three years.

Original Buona restaurant in Berwyn, Illinois (1981). The first Buona restaurant was opened in 1981 in Berwyn, Illinois by Joe Buonavolanto Sr. and his wife Peggy. The two worked in the restaurant along with their sons Carlo, John, Joe Jr., Jimmy, Don, and their daughter, Joanne. The Buonavolanto Family took out a second mortgage on their home in order to open the business. Joe Sr. dug the actual foundation for the restaurant while Peggy Buonavolanto concocted The Original Italian Beef recipe with the help of their Uncle “Junior” (Carl Buonavolanto), proprietor of Chicago’s iconic Mr. Beef on Orleans Street. The company name is taken from the last name Buonavolanto and the word “Buona” in Italian translates to “Good.” Joe Sr. opened the original restaurant as a part-time venture to fulfill a dream of going into business with his sons. The restaurant grew to the point that the sons began to leave their full-time jobs in order to maintain the business.

Sound of Music logo from 1966 until 1983 On August 22, 1966, Richard M. Schulze and a business partner opened Sound of Music, an electronics store specializing in high fidelity stereos in St. Paul, Minnesota. Schulze financed the opening of his first store with his personal savings and a second mortgage he took out on his family's home. In 1967, Sound of Music acquired Kencraft Hi-Fi Company and Bergo Company. Sound of Music earned $1 million in revenue and made about $58,000 in profits in its first year. In 1969, Sound of Music had three stores and Schulze bought out his business partner. Sound of Music operated nine stores throughout Minnesota by 1978. In 1981, the Roseville, Minnesota Sound of Music location, at the time the largest and most profitable Sound of Music store, was hit by a tornado. The store's roof was sheared off and showroom destroyed, but the storeroom was left intact.

Johnston's tenure as president was from May 1866 to November 1867. Alabama and Tennessee River Railroad Company had constructed of railroad line between Selma, Alabama and Blue Mountain, Alabama, including part of an extension of about of line from Blue Mountain toward Dalton, Georgia, in 1862.ICC, Southern Ry. Co. valuation report, 1931, p. 220. A. D. Breed operated the line under lease between May 31, 1866 and August 8, 1866 in accordance with a contract to rehabilitate the railroad line and construct the extension dated May 25, 1866.ICC, Southern Ry. Co. valuation report, 1931, p. 599. In 1868 the Selma, Rome and Dalton Railroad was the beneficiary of one of the first convict leasing contracts in the state of Georgia. Selma, Rome and Dalton Railroad Company constructed or reconstructed of railroad line between Blue Mountain, Alabama and Dalton, Georgia in 1870. The rehabilitation of the property after the American Civil War and the construction of the extension of the line between Blue Mountain and Dalton was funded mainly by the sale of consolidated first-mortgage seven per cent bonds and second-mortgage seven per cent bonds. The railroad in Georgia was sold in foreclosure on November 3, 1874 and conveyed to Georgia Southern Railroad Company on March 29, 1876.