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What is refinancing an existing loan?
Obtaining a new loan to pay off an old loan using the funds from the new loan. Any time you take old money owed and pay it off with new money owed you have refinanced.
What happens when you pay the principal on a loan?
When you pay the principal on a loan, you are reducing the amount of money you owe on the loan. This helps to decrease the total amount of interest you will have to pay over the life of the loan and can help you pay off the loan faster.
Can you pay back a loan with the loan money?
No, you cannot pay back a loan with the same loan money.
Should you pay off a default loan before or after you apply for a Mortgage?
You should pay off your default loan before because you may not qualify for a mortgage loan because you already owe money.
How long will it take to pay off my loan with extra payments?
The time it takes to pay off your loan with extra payments depends on the amount of the extra payments and the interest rate of the loan. Generally, making extra payments can help you pay off your loan faster and save money on interest.
What is refinancing an existing loan?
Obtaining a new loan to pay off an old loan using the funds from the new loan. Any time you take old money owed and pay it off with new money owed you have refinanced.
If your only surviving parent dies and has an active loan on the home what can you do?
The estate will have two specific choices: Pay off the loan with the money in the estate. Sell the house and pay off the loan.
What happens when you pay the principal on a loan?
When you pay the principal on a loan, you are reducing the amount of money you owe on the loan. This helps to decrease the total amount of interest you will have to pay over the life of the loan and can help you pay off the loan faster.
Is it legal to borrow money to pay off an others mortgage and require them to pay back as a loan?
If you have the means to borrow money, you may spend that money in whatever manner you choose. The important question should be: Is it wise to pay off another persons mortgage? NO. If they cannot pay their mortgage they probably cannot pay you either.
Can you pay back a loan with the loan money?
No, you cannot pay back a loan with the same loan money.
What are the advantages of having a car loan?
One of the advantages of having a car loan is that it allows people to purchase a car if they do not have all of the money right away. Another is that they can take years to pay them off depending on the loan.
Should you pay off a default loan before or after you apply for a Mortgage?
You should pay off your default loan before because you may not qualify for a mortgage loan because you already owe money.
How long will it take to pay off my loan with extra payments?
The time it takes to pay off your loan with extra payments depends on the amount of the extra payments and the interest rate of the loan. Generally, making extra payments can help you pay off your loan faster and save money on interest.
How do I pay off my vehicle?
Write to the person you borrowed the money off and tell them you want to pay off the loan. Ask them to tell you how much it will be to do this and to send you the forms to do this. Fill in the forms and pay them the money due.
Did Chrysler borrow money to pay off Government loan?
YesYes
How should I pay my car loan off quickly?
One way to pay off your car loan more quickly is to increase the amount you pay each month. If you pay more than the minimum payment any extra should be applied to the principal amount of the loan. This will decrease the amount of interest you pay over the life of the loan and therefor reduce the amount of time you pay on the loan. Another option would be to use any extra money, like tax refunds, bonuses, etc. to make an extra payment on your car loan. This link has more information: http://www.carloanscalculator.com/how-to-pay-off-a-car-loan-early.html
Should I pay off my student loan or car loan first in order to save the most money in the long run?
It depends on the interest rates of each loan. Generally, it's best to pay off the loan with the higher interest rate first to save the most money in the long run.
