When securing a loan with real estate, two main options emerge: mortgages and deeds of trust. Imagine a mortgage as a lender placing a temporary claim on your property, like a security deposit on a house. If you default, they can seize the property. A deed of trust functions differently. In this scenario, a neutral third party holds the property title until the loan is satisfied, acting as an impartial umpire in the transaction. Both methods provide lenders with a safety net in case of delinquency, and the specific choice often hinges on the state's legal framework and prevailing practices.
In the U.S., student loans are typically not dischargeable due to mental illness. However, borrowers with disabilities, including some mental illnesses, may be eligible for loan discharge or forgiveness through programs like Total and Permanent Disability Discharge. It's essential to contact your loan servicer or a financial counselor for specific guidance.
The federal income tax was unconstitutional
The student would have a grace period of typically 6 months before they are required to start repaying the District Stafford Loan after leaving school permanently.
In the Pollock v. Farmer's Loan and Trust Co. case (1895), the U.S. Supreme Court ruled that the federal income tax imposed by the Income Tax Act of 1894 was unconstitutional because it violated the rule that direct taxes must be apportioned among the states based on population. This decision led to the passage of the 16th Amendment in 1913, which granted Congress the power to levy an income tax without apportionment among the states.
Yes, you can sue a relative for an unpaid loan. It is advisable to consult with a legal professional to understand the process and implications of taking legal action against a family member. It is also important to consider the impact it may have on your relationship.
Charging a late fee when a payment is received within the grace period may breach the terms of the mortgage contract. If the contract states that payments made during the grace period are considered on time, then charging a late fee would violate that agreement. It would be advisable to review the terms and conditions of the mortgage contract to determine if the late fee charge is justified under the agreed terms.
Exceptions to collateral estoppel include when the party against whom the doctrine is being invoked did not have a full and fair opportunity to litigate the issue in the previous action, or when there is new evidence that was not available in the previous action. Additionally, collateral estoppel may not apply if the issue in question is of public importance and should be reexamined for public policy reasons.
It depends on the laws in your specific jurisdiction. In some places, it may be legal to require a satisfaction for an unrecorded mortgage as a condition of the loan agreement, while in others it may not be enforceable. It is advisable to consult with a legal professional in your area for specific guidance on this matter.
the federal income tax was unconstitutional
In Florida, failure to repay a payday loan is not considered a criminal offense, so you cannot be sent to jail specifically for not paying back a payday loan. However, lenders can take legal action against you in civil court to recover the debt. It is important to communicate with the lender and try to work out a repayment plan if you are struggling to make payments.
No. The mortgage remains in first place as an encumbrance against the property.
No. The mortgage remains in first place as an encumbrance against the property.
No. The mortgage remains in first place as an encumbrance against the property.
No. The mortgage remains in first place as an encumbrance against the property.
No, you cannot go to jail in Texas for defaulting on a car loan. However, the lender can repossess the car and take legal action to recover the remaining debt. It is a civil matter, not a criminal one.
The total amount of money you need to pay will depend on the specific terms of your student loans and scholarship. Typically, scholarships do not need to be repaid, but you will need to repay the amount of money borrowed for student loans according to the agreed-upon terms, such as interest rate and repayment period. Be sure to carefully review the terms of both your scholarship and student loans to understand the financial obligations.
No, you cannot be sent to jail in Houston, Texas for not paying a payday loan. Failure to repay a payday loan is a civil, not a criminal, offense. However, creditors can take legal actions to collect the debt, such as filing a lawsuit or garnishing wages.
The principal is the initial amount borrowed in a loan. Interest is the cost charged by the lender for borrowing that principal amount. The total repayment amount on a loan typically includes both the principal and the interest.
The legal rate on a judgment that has replaced a defaulted loan varies depending on the location. In most cases, the rate is determined by state law and can range from a few percentage points above the prime rate to statutory rates set by each state. It is important to check the specific laws of the state where the judgment was issued to determine the applicable legal rate.
Second mortgages are loans taken out on a property that is already mortgaged. The laws regarding second mortgages vary by jurisdiction, but generally, they give the lender the right to foreclose on the property if the borrower defaults on the loan. It's important to carefully review the terms of the second mortgage agreement and understand the legal implications before proceeding.
No, you cannot go to jail in South Carolina for defaulting on a payday loan. Debtors' prisons are illegal in the United States, and failing to repay a payday loan is a civil matter, not a criminal offense. However, the lender can take legal action to collect the debt through a civil court.
While failure to repay a loan in another country may lead to legal consequences such as being pursued by debt collectors and facing legal action in that country, it is highly unlikely that you would be arrested specifically for an unpaid Citibank Bahrain loan while in the Philippines. However, it is important to address and resolve any outstanding debts to avoid potential implications for your credit score and financial standing.
Yes, writing a check on a closed account is considered a form of check fraud in Texas. This action violates state laws and could result in legal consequences, including being taken to court by the payday loan company or financial institution. It is important to resolve the issue immediately to avoid further legal troubles.
The median household income in the United States is $46,326.
When you break this down by 12 months, it wind up to $3,860/month
Answer: That's the average monthly salary, not the monthly mortgage payment! If you paid out your entire salary in a mortgage payment, you'd have nothing left for other expenses, like utilities and food.
To find your mortgage survey, you can request a copy from your mortgage lender or contact the surveyor who conducted the survey. You can also check with your county or local land records office as they may have a copy on file.
In Georgia, the statute of limitations on unsecured loans is typically six years. This means that creditors have up to six years to file a lawsuit to collect the debt. After the six-year period has passed, the creditor may not be able to pursue legal action to collect the debt.
In Minnesota, a payday loan is a civil matter, not a criminal one. You cannot be arrested for failing to pay it back. However, the lender may pursue legal action to collect the debt through civil court.