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A really good question. First a little about bridge loans.
Very simply put, a bridge loan is a short-term loan that a obtains to facilitate the financing of a property. It is a kind of financing that the borrower uses when they are expecting to sell a property quickly or refinancing within the near future.
Like other loans, there needs to be some kind of collateral put up for the bridge loan. If you default on the loan, the bank will be able to seize whatever you put up for collateral. Most of the time this means the property that the loan was used for.
Learn more at http://www.bridging4u.co.uk/
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∙ 12y ago
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What happens if you do not pay your check n go installment loan?
The loan will be a default loan
What happens if a loan is sold with recourse and it goes into default?
what haapend if a loan is sold with recourse and it goes into defualt
What happens if someone has a loan default statement?
If someone has a loan default statement, it means that the person who took out the loan has not met the terms of the contract, for example they have not met the payments. If this happens then the person who gave out the loan and who the debt is loaned to can take action to recover the money, for example re-possession.
What is loan default?
If you don't pay a loan when due, you default on the loan.
What happens if you default on a payday loan in Georgia?
Payday loans are considered illegal in the state of Georgia. However, if you default on a payday loan, the company can sue you in court. The judge will decide how a judgment will be carried out if the loan was given in Georgia illegally.
What happens if you do not pay your check n go installment loan?
The loan will be a default loan
What happens if a loan is in default and is deceased but has a co signer?
The cosigner now owes for the loan.
What happens if you default on a loan used to purchase a lot?
If you default on a loan used to purchase a piece of property you usually lose the property through foreclosure.
What happens if a loan is sold with recourse and it goes into default?
what haapend if a loan is sold with recourse and it goes into defualt
What happens if someone has a loan default statement?
If someone has a loan default statement, it means that the person who took out the loan has not met the terms of the contract, for example they have not met the payments. If this happens then the person who gave out the loan and who the debt is loaned to can take action to recover the money, for example re-possession.
What is loan default?
If you don't pay a loan when due, you default on the loan.
What happens if you are in default on a car title loan?
The creditor reposseses the car, and you take the bus.
What happens if you default on a payday loan in Georgia?
Payday loans are considered illegal in the state of Georgia. However, if you default on a payday loan, the company can sue you in court. The judge will decide how a judgment will be carried out if the loan was given in Georgia illegally.
If a parent cosigns a loan that goes into default and the loan is paid in full what happens to the default status on the credit report can it be removed?
If in the US, then yes. The default will be replaced with paid in full. Simply send proof of the payment to the three credit bureaus.
What happens if you default on a graduate student loan?
Most loans have consequences when you default like reporting negatively to the credit bureaus, garnishment of wages to repay the loan, ineligibility to get another student loan if needed; many late fees, and even a lawsuit to collect on the loan.
What happens if default on an unsecured loan?
It could be recovering the money from your employer or even a legal pursuit.
What happens to the cosigner if you are in chp 7 bankruptcy and you default on your car loan?
If you default on your loan, the cosigner is stuck with paying it off. If your credit had been any good in the first place, you would not have needed a cosigner.
