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What does a 18.5 yr loan with a clause that you the loan company can call the loan in 8 yrs mean?
Wiki User
∙ 13y ago
It sounds as though the loan company has reserved the right to demand full payment of the balance in 8 years. You should have a lawyer review the documents before you sign. You are probably being taken advantage of.
Wiki User
∙ 13y ago
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What do foreclosed mean?
The action taken by a bank or loan company to call in a loan or mortgage.
If your car was repossessed and you paid the loan off do you get the title?
If your car was paid off, then why was it repoed? Or if you mean you paid it off after it was repoed, then if the loan company accepted your money,then they have to give you the car and title back. I would call them and get it back or your money back.
Why was your loan transferred to PennyMac Loan Services from Bank of the Cascades if the loan is being paid on time?
When you sign your mortgage papers at the closing, there is usually a clause that states the lender can sell your loan to anyone they choose. This does not mean any terms can change. Don't worry as it is standard practice in the mortgage business.
What does a corporate loan mean?
A corporate loan is when a company lends money from a bank. Because a loan is given to a corporate institution, the money tends to be a larger amount than if it was lent to an individual.
What does it mean if you apply for credit?
It means you are asking someone or some company to loan you some money.
What does amended the mortgagee clause mean?
It means your mortgage company/loan ownership has changed. Your loan may have been sold and now the entity holding the lien on your property's "legal name" has changed. Or, your original mortgage company may have merged or been bought out -hence the entity's legal name change.
What does the term easy loan mean?
The term easy loan is a short term loan that is also known as a payday loan. It is for a short period of time, usually between 8-25 days. Fees are charged on the amount borrowed, which can increase the value of the repayment by a considerable amount, depending on the company that is used for the loan.
What does a prepayment penalty that is Not Applicable mean?
If you have prepayment penalty clause in your agreement with lender, then if you pay off the entire loan amount with in the maturity period of your loan. You have to pay some amount of money as penalty. If prepayment penalty is not applicable means, even though if you pay off the the loan amount with in the maturity period. You need not pay any penalty.
If you cosigned on a loan and voluntary have it returned can the company still come after you if the primary signer is making payments?
Don't understand what you mean by the phrase, "...voluntary have it returned..." However, as long as the primary indebted party is current in their payments there would be no reason for the loan company to contact you for payments.
Will your credit score go up with a co signer?
Basically no not right away ... but if you pay the loan on time every month THAT will help your credit score. Now if you mean will it help you get the loan .. then YES .. the loan company will use your co-signers credit score to help them decide if you can be given the loan
What is a fully disbursed loan?
Disbursed loan mean unsettled loan...........
What can I do if my name is on my deed but my exhusband has a loan in his name that is closed but the loan company has a lien against it and will not release it until he tells them to and he won't?
If the loan that is secured by the lien has been fully satisfied, the loan company is obligated to discharge the lien without being asked by your ex. You say "closed" so I assume you mean paid in full. You might be able to sue the company under state or federal consumer protection or fair debt practices laws. Call and write to the company and threaten this action. You should also tell the company to file the papers to discharge the lien directly with the proper office rather than sending them to your ex. If this happens your ex might just sit on those papers just to cause you grief and prevent you from clearing the title, forcing you to sue him.
