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Can the bank take your house if you have a equity line of credit only?
If you default on the loan, yes.
Do banks really want your house back?
Absolutely not. They only want to get paid for the loan they made. The house is just a security measure on the side of the bank to ensure that you make your payments on time and close the Loan properly. If you fail on your payments then the bank can take possession of your house and sell it off to cover for the amount due from you.
Difference between a bank loan and a bank overdraft?
A bank loan is a note that is repaid over years. A bank draft is only used when you don't have the funds in your account.
When you refinance a house as a co-borrower can you take your name out of the loan?
Only if the borrower qualifies on his own and the bank allows it. You will also have to be removed from the deed.
Why is a bank loan a financial asset?
The only way that a bank loan can be an asset is if the loan is less than what the assett is worth. Otherwise I do not belive a bank loan can be an assett. Answer 1: A Bank loan is an asset for the bank because it is money that a customer will repay. Any instrument in which money will be received can be considered an asset. In case of a loan, it is an asset to the bank and a liability to the person who borrowed the money
Can you change the name on your car loan so that my daughter can take it over?
It is possible for your daughter to assume responsibility for your car loan, but only with the agreement of the bank that issued the loan; you can discuss this with the bank.
How get a loan with a bank with bad credit?
The only way one with bad credit get a loan from a bank is to use a co-signer who has a stronger credit profile.
What is mean by moratorium period of bank home loan?
In case the loan is sanctioned for construction of house, maximum period of 18 months or 1 month after completion of house / taking possession of flat / house,whichever is earlier is allowed as moratorium period when EMI is not required to be paid and only servicing of interest, as & when applied, is required.In case of loan granted for outright purchase of readymade house, EMI is to be paid from the next month of sanction of loan.
How can you get a personal loan without a bank account?
You cannot. Banks usually expect an auto-debit instruction from a bank account for the monthly payments for the loan. That can happen only if you have a bank account and so you cannot get a personal loan without a bank account. Banks would ask you to open an account if you want a loan with them.
If your spouse dies then receives a credit on a bank debit card can the bank take that credit and apply it to an outstanding loan that was only in your spouse's name?
Yes, if the loan is at the bank where the debit card was issued.
How can you get a loan in the hundreds of thousands?
The only way to get a loan in the hundreds of thousands is to have great credit and apply at your local bank.
Who is resposible for the loan if the title is in the deceased name only?
The estate is responsible for the loan. If it is not paid the bank will take the property.
