By having the same settlement date, borrowers may have an easier time determining if refinancing the original and coterminous loans will provide a significant savings. For the lender, offering a coterminous supplemental loan may represent less default risk than a non-coterminous mezzanine mortgage because of the shared maturity date.
A portfolio lender is a bank or institution that originates mortgage A mortgage broker is an intermediary who brings mortgage borrowers A loan register lists when the loans are due, recorded in chronological If you're looking to get your first mortgage, there are many financing options available.
Find out how to evaluate a firm's loan portfolio to determine its financial health. Many mortgage brokers adapted to the post-subprime environment by becoming loan modification specialists.
Are you planning on buying a home? Here is a step-by-step guide to find and lock in the best rate for a mortgage. One way is for a new village to be incorporated in a town which has no existing villages, with the new village having the same boundaries as the existing town. The coterminous Town-Villages of Harrison and Scarsdale were created in this way. Another method is for an existing village to use the procedures of General Municipal Law, Article 17, to annex all of the adjacent territory in its town lying outside the village.
Essentially, the village would expand its boundaries to become coterminous with the town. For this to occur, there would have to be no other villages already in existence in the town.
Additionally, the procedure requires approval of both the existing village and town governing boards, plus the approval of the voters at a referendum held in the outlying territory which is to be annexed. A third method is for the State Legislature to adopt a special act creating the coterminous town-village. Since it would be for the benefit of only two municipalities, such a special act would require that the two existing governments send a "home rule request" to the Legislature to enact the bill.
In the special act, the boundaries of the new municipality would be set forth, and other provisions would be written regarding governmental administration, disposition of real property and other assets and obligations of the existing municipalities.
Although a referendum is not required by any existing general statute, the Legislature may condition the creation of the town-village on the approval of the voters at a referendum. By utilizing the method of a special act, the boundaries of the new town-village could follow an existing town or village boundary, or they could follow newly-drawn boundaries.
A fourth method is for a public petition to be submitted under Article Five of the Town Law, calling for the division of the existing town into two towns, one of which would have the same boundaries as an existing village. The coterminous Town-Villages of Mount Kisco and East Rochester were created in this way, although in each of those cases two existing towns were divided to create the new town. When such an entity is formed, officials from either unit of government may serve in both village and town governments simultaneously.
From Wikipedia, the free encyclopedia. Archived from the original on Historical Development" PDF 6th ed. New York State Department of State. Retrieved from " https:
the Alfred Lunt–Lynn Fontanne partnership was more or less coterminous with Broadway's golden age. Massachusetts' Nantucket County isn't quite coterminous with the island of the same name, as the county includes two small nearby islets.
Coterminous definition, having the same border or covering the same area. See more.
In war-conflict areas, the vacation of children whose schools are utilized to house refugees 'is coterminous with the length of fighting,' Recto said. Synonyms for coterminous at buycoumadin.gq with free online thesaurus, antonyms, and definitions. Find descriptive alternatives for coterminous.
Use the word coterminous to describe things that are equal in scope. If an earthquake in Australia was coterminous with the earthquake in China, that means it caused the same amount of destruction. Definition of coterminous - having the same boundaries or extent in space, time, or meaning.