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Such loans are considered riskier because borrowers have no equity to lose if they stop payments.
"We do not do this to encourage customers to renew stop payments.
And, as Jim's parents found out when ransom demands came from Isis, the US administration actively tries to stop payments.
"Well, technically, you can renew stop payments indefinitely" she said, as if this were the glimmer of hope I was searching for.
The inspector general for the board had been sending memos imploring it to stop payments, which he said were about $2 million a month.
Housing activists counter that homeowners seeking modifications are often told by their lenders to stop payments, and then end up in foreclosure.
Similar(28)
Benny had the bank stop payment on his check.
Believe me, they will find a way to stop payment.
"Yes sir, you can renew your stop payment six months from now.
"Yes, sir, a stop payment on a check is only valid for six months".
Among the relevant sentences are these: "A stop payment order generally expires after six months.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com