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What do you call it when someone pays back a loan quickly?
A sudden debt pay off is when someone pays back a loan quickly.
Who pays the loan if a car is repossessed?
The one who BORROWED the money and/or the on who COSIGNED the loan.
If you take out a loan and then you die who pays for it?
Either insurance or the estate. Some lending institutions provide "credit life insurance" which pays off the loan. If that is not part of the loan, the estate will be required to sell assets to cover the loan.
Who pays back a reverse mortgage loan?
At "payback time" (the death of the last surviving beneficiary of the reverse mortgage) the house belongs to the bank.
What is the cost of a bank loan called?
Under FHA, the cost of a bank loan is called a MIP, or mortgage insurance premium. Some banks also call this the interest on the loan. A person borrows a certain amount from the bank and then pays a percentage on that money borrowed.
What do you call it when someone pays back a loan quickly?
A sudden debt pay off is when someone pays back a loan quickly.
What do you call it when someone pays back a loan quiclky?
Surprising
What do you call a loan tis obtained by the consumer who keeps the entire amount of the loan for a specific period of time and pays back the loan amount plus interests at the end of the loan period?
term loan:)
What is the answer to algebra wth soluion for What do you call it when someone pays back a loan quickly?
What you're describing, when someone pays back a loan quickly, is often referred to as "early repayment" or "early payoff" of the loan. This means the borrower is making payments ahead of the scheduled repayment plan or paying off the entire loan balance before the agreed-upon term ends. In terms of algebra, if you want to represent this concept mathematically, you can use variables and equations. For example, let's say: A represents the initial loan amount. r represents the annual interest rate (as a decimal). t represents the time period (in years) for the loan. The standard formula to calculate the total amount paid on a loan is: Total Amount Paid = A + A * r * t If someone pays back the loan quickly, they would reduce the value of 't' (time). The solution would involve modifying the equation to reflect the early repayment, which would result in paying less interest and possibly reducing the total amount paid. The specific solution would depend on the details of the loan and the early repayment terms.
When a borrower pays back a loan both the principal and the interest must be repaid What is the total amount you would pay back on a simple interest loan with a principal of 10500 at 6.3 percent for?
13,807.50
Who pays the loan if a car is repossessed?
The one who BORROWED the money and/or the on who COSIGNED the loan.
If you take out a loan and then you die who pays for it?
Either insurance or the estate. Some lending institutions provide "credit life insurance" which pays off the loan. If that is not part of the loan, the estate will be required to sell assets to cover the loan.
Do you have to pay the bank back for a vehicle if it gets wrecked and the bank pays it off?
Yes, unless the amount of the loan was covered by the insurance.
How do you distribute if one heir pays cash in to the estate?
It depends on why the heir paid cash to the estate. If it was a loan to the estate, it should be paid back first. If it was to pay the estate back for a loan, it is divided up like the rest of the assets.
What is charges such as collecting loan fees and the interest the customer pays on the loan?
servicing fee
Where can you find a student loan people club?
Many banks would offer multiple types of student loans. They often require that the person taking the loan pays it back after they have completed their studies.
Who pays back a reverse mortgage loan?
At "payback time" (the death of the last surviving beneficiary of the reverse mortgage) the house belongs to the bank.
