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What is a Personal Loan?
A personal loan is a short and unsecured loan, for a maximum tenure of 5 years, where banks or NBFCs lend money on fixed interest rate to the consumers, without securing the loan by 'collateral'. Unlike other loans, personal loans are granted without safeguarding the loan without anydeposit assets withthe lender. It can be availed for any purpose such as education, marriage, purchase of property or assets, home improvements, investments, or holidays. You can apply for personal loan from any banks like SBI, PNB, etc. Or any NBFCs like Bajaj Finserv as well.
Getting education loan for 7lac should you submit any property?
You dont need to submit your property for loan amount upto 7 lacs but you need a guranter Guranter may be your uncle,neighbour or your parents (any trusted person). For the loans above 7 lacs you need to mortgage your property .
Is a land loan the same as a mortgage?
No, a land loan is not the same as a mortgage. A land loan is specifically for purchasing land without any structures on it, while a mortgage is a loan used to purchase a property with a building or home on it.
Can you get a mortgage loan without any actual real estate transaction involved?
A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan by a forced sale.
Can you finance any property with FHA?
Not any property. FHA has a certain standard and rules of the condition of property or type of property before providing a loan.
Can one party in a joint tenancy take a loan on the property without the signature of the other party?
No, because, being a tenant, he don't have any kind of rights to take loan on keeping this property as security or guarantee, and if doing so without the knowledge of the right owner, then the party is ultimately liable to the courts of law.
Can you seize someone elses personal property without legal process if they owe you money?
Of course not. You have to follow the legal process, in other words, file a court case, get a judgment in your favor and then seek an order to seize property if they don't pay up in the time specified by the court order. Otherwise it is theft.
Can I place a lien on my mother's property for a loan she made to my sister?
You haven't established why you would have any financial interest or rights in your mother's property or in the loan she made to your sister. Therefore, the answer is no.
If your wife takes out a student loan are you responsible for that loan in any way?
Probably, especially if you live in a community property state.
Your wife and her father have a home with both their names on the deed. The mortgage loan is in his name alone. Can he refinance the home without her signature?
No. If the loan is in the father's name only, he probably owned the property (hence the mortgage) prior to changing the deed to include your wife. Once he added your wife as co-owner of the property he lost his rights to individually make decisions concerning the property. He cannot refinance or in any other way reconvey the property or any interest in the property without the signature of your wife. She will have to sign the mortgage since she is on the title. He can execute the note by himself, and be solely responsible for paying the loan, but the lender will need her written consent on the mortgage so that in the case of a default, the lender can take possession of the property via foreclosure.
What is the meaning of mortgage loan?
A Mortgage Loan is a loan granted by a bank or other financial institution on real property to any individual or group that has taken out the mortgage with the institution. The property remains in the posession of the owner so long as the payments on the loan are paid in timely fashion. If the owner defaults on the loan payment, however, then the bank has the right to foreclose on the property.
Where are college grants for online education?
YOu can get a loan with for online education just like you would get any loan. Go to your banking institution first to see if they offer it at a lower rate.
