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What happens when your home is collater for a loan and you sell your home?
Th eloan is repaid with the proceedes of sale prior to you being paid what is left. If the loan is not repaid, you could be in violation of the law for not disclosing the lien.You can not accept money that is collateral against another loan.
What is the difference between margin and collateral in terms of securities trading?
In securities trading, margin is the amount of money borrowed from a broker to buy securities, while collateral is the assets or funds used to secure the loan. Margin involves borrowing money to invest, while collateral is the security provided to ensure the loan is repaid.
What are the 5 Cs of credit that are sometimes used by bankers and others to determine whether a potential loan will be repaid?
The 5 C's of credit sometimes used by bankers and others to determine whether a potential loan will be repaid. Character, Capital, Capacity, conditions, and collateral. These are indications of whether a loan will be repaid on time, late, or not at all. Character, quality of the individual who is responsible for repaying the loan. Capital, level of financial resources available to the person and the debt to equity ratio. Capacity, availability and sustainability of the person's cash flow to pay the loan off. Conditions, operating income and cash flows to the economy. Collateral, assets that can be pledged against the loan.
What happens to the money supply when a loan is repaid?
it maintains steady circulation of money in the economy
Which term is defined as property that is pledged as security on a loan?
Collateral, well for me it is what could place an equal but opposite return to to what i am giving as load. What if your organ could be taken as collateral? Just have the loan before borrowing.
What happens if a secured loan is not repaid and the collateral is seized by the lender?
If a secured loan is not repaid and the collateral is seized by the lender, the lender can sell the collateral to recover the amount owed on the loan. If the sale of the collateral does not cover the full amount of the loan, the borrower may still be responsible for paying the remaining balance. Additionally, the borrower's credit score may be negatively impacted, making it harder to borrow money in the future.
What happens when your home is collater for a loan and you sell your home?
Th eloan is repaid with the proceedes of sale prior to you being paid what is left. If the loan is not repaid, you could be in violation of the law for not disclosing the lien.You can not accept money that is collateral against another loan.
Can you get a loan for someone else?
Yes, but you will be the one responsible for repayment, and it will be your collateral that is seized or forfeited if the loan is not repaid.
What happens if a secured loan is not repaid?
If a secured loan is not repaid, the lender has the legal right to take possession of the collateral that was used to secure the loan. This could result in the loss of the collateral, such as a house or car, to the lender in order to satisfy the debt. Additionally, the borrower's credit score may be negatively impacted, making it more difficult to obtain credit in the future.
How do you get personal loan for defaulters?
It may be necessary to put up collateral of similar value to the loan.Then if the loan in not repaid the lender can seize and auction the collateral to try to recover the loss.This is why car loans and home mortgages are relatively easy to get, the car or home purchased with the loan is the collateral for the loan. But an ordinary personal loan does not automatically have collateral like those loans do, so it is harder to get if your credit is very bad.
What services are offered by a pawnbroker?
They basically offer high interest loans in exchange for holding collateral which they sell if the loan isn't repaid.
What is the difference between margin and collateral in terms of securities trading?
In securities trading, margin is the amount of money borrowed from a broker to buy securities, while collateral is the assets or funds used to secure the loan. Margin involves borrowing money to invest, while collateral is the security provided to ensure the loan is repaid.
What are the 5 Cs of credit that are sometimes used by bankers and others to determine whether a potential loan will be repaid?
The 5 C's of credit sometimes used by bankers and others to determine whether a potential loan will be repaid. Character, Capital, Capacity, conditions, and collateral. These are indications of whether a loan will be repaid on time, late, or not at all. Character, quality of the individual who is responsible for repaying the loan. Capital, level of financial resources available to the person and the debt to equity ratio. Capacity, availability and sustainability of the person's cash flow to pay the loan off. Conditions, operating income and cash flows to the economy. Collateral, assets that can be pledged against the loan.
What happens to the money supply when a loan is repaid?
it maintains steady circulation of money in the economy
Which term is defined as property that is pledged as security on a loan?
Collateral, well for me it is what could place an equal but opposite return to to what i am giving as load. What if your organ could be taken as collateral? Just have the loan before borrowing.
What if you sell the car and you have a title loan out on it?
That's illegal. Technically, if you 'borrow' money against your vehicle, the car becomes the property of the loan company until you've repaid the loan. If you sell the car before the loan is repaid, you're likely to land yourself in court !
What is the difference between a mortgage and a loan?
A loan is a sum of money given by one party to another that has to be repaid according to the terms of the loan.A mortgage loan uses real property as collateral to guarantee repayment of the loan. The borrower transfers an interest in their real property to the lender during the life of the loan. When the loan is paid off the lender releases its interest. If the loan is not paid off the lender can take possession of the property by foreclosure.A loan is a sum of money given by one party to another that has to be repaid according to the terms of the loan.A mortgage loan uses real property as collateral to guarantee repayment of the loan. The borrower transfers an interest in their real property to the lender during the life of the loan. When the loan is paid off the lender releases its interest. If the loan is not paid off the lender can take possession of the property by foreclosure.A loan is a sum of money given by one party to another that has to be repaid according to the terms of the loan.A mortgage loan uses real property as collateral to guarantee repayment of the loan. The borrower transfers an interest in their real property to the lender during the life of the loan. When the loan is paid off the lender releases its interest. If the loan is not paid off the lender can take possession of the property by foreclosure.A loan is a sum of money given by one party to another that has to be repaid according to the terms of the loan.A mortgage loan uses real property as collateral to guarantee repayment of the loan. The borrower transfers an interest in their real property to the lender during the life of the loan. When the loan is paid off the lender releases its interest. If the loan is not paid off the lender can take possession of the property by foreclosure.
