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A DSCR below 1.0 indicates that there is not enough cash flow to cover loan payments. In certain industries where non-recourse project finance is used, a Debt Service Reserve Account (DSRA) is commonly used to ensure that loan repayment can be met even in periods with DSCR<1.0 [2]
Recourse debt or recourse loan is a debt that is backed by both collateral from the debtor, and by personal liability of the debtor. [2] This type of debt allows the lender to collect from the debtor and the debtor's assets in the case of default, in addition to foreclosing on a particular property or asset as with a home loan or auto loan.
A deficiency judgment is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. [1] The availability of a deficiency judgment depends on whether the lender has a recourse or nonrecourse loan, which is largely a matter of state law ...
You can also find non-profit or mission-based lenders like Community Development Centers (CDCs) offering Community Advantage loans. These are a form of 7(a) loans offering loan sizes up to ...
General Revenue Corporation is a United States debt-recovery organization that specializes in the recovery of defaulted student loans and consumer loans. GRC is a subsidiary of SinglePoint Group International. [3]
Homeowners impacted by the March 14 tornadoes will have access to loans of up to $500,000 to repair or replace any property that was damaged or destroyed, and both homeowners and renters are ...
Not all mortgage lenders offer bank statement loans. You might need to work with a mortgage broker to find one. ... Non-QM loans give more borrowers an opportunity to qualify for a loan. However ...
Hebrew Free Loan Association of Northeast Ohio (HFLA) is an American non-sectarian 501(c)(3) non-profit organization that loans money interest-free to people who do not have easy access to other capital. As of 2014, the organization has made over 25,000 interest-free loans in Northeast Ohio. [1] Between 97% and 99% of all funds loaned are repaid.