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A loan extended to a person by a lender is called?
A loan extended to a person is called credit.
When are credit scores used to determine loan percentages?
Credit scores are used to determine loan percentages when a person applies for a loan. If a person has a low credit score, the percentages of interest are higher, whereas higher credit scores result in lower loan percentage rates.
How are student loan consolidation interest rates calculated?
They are directly determined by the amount of existing credit a person has, and the score of that credit. If a person has bad credit, they will need to find a person (typically their parent) to co-sign the loan. The co-signer assumes responsibility for the loan if it is not paid by the person who originally takes out the loan.
What does Loan mean when you loan money to someone?
Loan means credit when you loan to somebody giving that somebody credit. You are the loaner and the person given credit is the Lonee. Loaner is the lender and the Lonee is the borrower.
Can a credit card defaulter get house loan after the credit card debt settlement?
yes
Can you get an unsecured loan with bad credit?
It is very difficult to get an unsecured loan with bad credit. This is because of the nature of the loan. When a person gets an unsecured loan, it means there is no collateral to back the loan up with.
Is your credit history affected by a lien that is put on a house?
If there is a mortgage/equity loan involved,that loan will report on your credit history. The lien will report on the title of the house. A title search will be conducted if you are selling or refinancing the house.
What is co signing?
A person with good credit and an ability to pay signing on a loan for another person and guaranteeing the loan.
Where could a person with bad credit get a business loan?
A person with bad credit could get a business loan at various banks and companies. Some of the companies that offer a business loan for people with bad credit are Venture Capital, Prosper and Lending Club.
Is it easier for a person with poor credit to refinance their house with the help of a cosigner who has excellent credit?
It can be easier if you use their credit by putting them on title on the home and use there credit, however they will be responsible for the loan and be on title as at least a part owner. If you use another persons credit to do a refinance, the other person must in most title states be put on title and will be responible for the loan even if you both sign which you would have to do.
Do cash loan lenders report to credit agencies?
Cash loan lenders do offer a small amount of credit for lending money if a person makes their loan payment on time, but it is also noted that the person did not have money and needed a cash loan.
Would the estate pay back a loan from a loan that was a line of credit on a house that was given to someone else before the person died?
Yes, the estate has to resolve all debts. The property cannot be transferred while subject to a lien from a line of credit.
