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It is not a good idea to take out a tenant loan, or any type of loan with high interest unless you need the money really bad and have no other options. A loan like this could have you in debt for years.You could be paying really high interest as well, while you may need money right now, you may never be right again financially if you get one of these loans.
What else can I help you with?
In general are loan calculators accurate?
If you use a good loan calculator and input the correct values, it should give you a pretty accurate idea about how long it will take you to pay off your loan.
Does an auto loan calculator help you figure out your final amount paid including interest?
Yes, an auto loan calculator calculates all the aspects of what you would pay when you take out an auto loan. It includes the interest and will give you a good idea of how much would be paid overall on the loan.
Is it a good idea to get a loan?
It is very often a good idea to get a loan. But the current world economic climate should convince you that loans can also be a dangerous thing. The idea is to think clearly and prudently, and get plenty of advice from knowledgeable and trusted people.Unfortunately, some things in life require taking out a loan. For example a home, car, etc. Still, we must learn to live within our means. Be careful and do not over extend yourself. Remember, once you take out that loan you become a slave to it. There is a lot of truth in the saying, "owe no man anything."
Is it a good idea to take a bank loan at a lower interest rate to pay off a credit card if you close the credit card account when paid off?
It's not a bad idea but it depends on how low the bank interest is.
Can you take a loan against your car if not paid for?
You can if a lender is willing to loan you the money and the existing loan is not more than 50% of the value of the car. Just make sure the lender is aware of an existing loan against the vehicle. This is a very bad idea IMO. Using a car as collateral for a loan other than to buy the vehicle is a very bad idea. Cars depreciate very quickly so are not good collateral. More than likely no lender will loan you the money on this vehicle.
Do you need financial planner?
An individual does not have to have a financial planner, but it's a good way to go as they help you make the most of your investments right through to if it's a good idea to take out a loan. They can help you sometimes in paying off your mortgage sooner.
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.
How much interest should I pay on a personal loan within my family?
If you have no choice but to take out a loan with your family (which is usually a bad idea), then you should research local loan rates offered by your bank, and base the number on that figure.
If a cosigner of a car loan wants to get off the loan but it's not a good idea for the other party due to credit score can the cosigner take legal action to get off the loan?
Probably not. You, like the primary party, signed a contract as an independednt, free-thinking adult. It is assumed under the eyes of the law that you knew what your were getting into. You are as bound by contract law as the primary.
Can you take a loan from an IRA?
No, you cannot take a loan from an IRA.
Can you take a loan from your IRA?
No, you cannot take a loan from your IRA.
Can you take a loan out of an IRA?
No, you cannot take a loan out of an IRA.
