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What happens if collateral used for loan is sold before the loan is repaid?
You are still responsible for paying the loan as before.
What are the disadvantages of refinancing a mortgage?
Some disadvantages of refinancing a mortgage include paying closing costs, extending the loan term, potentially higher interest rates, and resetting the clock on paying off the loan.
What is the term for a person who has taken a loan?
The term used to refer to someone who has taken out a loan is, borrower.
How does paying extra principal affect monthly payments?
Paying extra principal reduces the amount you owe on the loan, which can shorten the loan term and decrease the total interest paid. This does not directly affect the monthly payments, but can help pay off the loan faster.
What are the advantages and disadvantages of medium term finances?
Medium term financing does not prevent you from paying off your loan quickly or taking out another loan in the future. The down side is that this type of loan typically has a higher interest rate and cannot be applied to any tax breaks.
What happens if collateral used for loan is sold before the loan is repaid?
You are still responsible for paying the loan as before.
What is the meaning of auto loan calculator.?
An auto loan calculator shows how much you're REALLY paying for a car after the loan term and interest rate are factored in. It can also calculate how long it will take to pay off your loan based on how much you are paying each month.
What are RV loan calculators used for?
An RV loan calculator is used to determine your payments based on the amount of the loan and the length of the loan. It will give you an idea of how much you will be paying for the RV.
What are the disadvantages of refinancing a mortgage?
Some disadvantages of refinancing a mortgage include paying closing costs, extending the loan term, potentially higher interest rates, and resetting the clock on paying off the loan.
Can you get out of a co signed home loan?
Only by paying off the loan.Only by paying off the loan.Only by paying off the loan.Only by paying off the loan.
What is the term for a person who has taken a loan?
The term used to refer to someone who has taken out a loan is, borrower.
How does paying extra principal affect monthly payments?
Paying extra principal reduces the amount you owe on the loan, which can shorten the loan term and decrease the total interest paid. This does not directly affect the monthly payments, but can help pay off the loan faster.
Monthly cost of paying off college loan?
Depends on the balance, repayment term, and interest rate.
Isn't paying no interest loan by paying monthly due amount better than paying in full in term of improving credit score by having good payment history?
Making monthly payments on a no interest loan is way better than paying it off in full if you are looking to improve your credit score.
Can a cosigner remove the primary from the loan?
No. Only the lender can make changes to the parties responsible for paying the loan. If the co-signer is paying the loan because the primary isn't paying, that's exactly what they signed on for by co-signing.No. Only the lender can make changes to the parties responsible for paying the loan. If the co-signer is paying the loan because the primary isn't paying, that's exactly what they signed on for by co-signing.No. Only the lender can make changes to the parties responsible for paying the loan. If the co-signer is paying the loan because the primary isn't paying, that's exactly what they signed on for by co-signing.No. Only the lender can make changes to the parties responsible for paying the loan. If the co-signer is paying the loan because the primary isn't paying, that's exactly what they signed on for by co-signing.
What are the advantages and disadvantages of medium term finances?
Medium term financing does not prevent you from paying off your loan quickly or taking out another loan in the future. The down side is that this type of loan typically has a higher interest rate and cannot be applied to any tax breaks.
Long term loan vs short term loan?
With long term loans, borrowers can take a longer period of time to start paying of their loan. Whereas with short term loans, the borrowing time is usually no more than two weeks because the borrowers typically use short term loans to cover their extra expenses between paychecks - after borrowing the money they use their next paycheck to pay back the short term loan.
