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Loans

Money lent to individuals or businesses in return for interest in addition to repayment of principal. Common types of loans include commercial loans, interbank loans, mortgage loans, and consumer loans.

13,117 Questions

Why do banks only lend money when you have assets that are as valuable as the loan?

Usually banks do not expect you to pledge assets that equal the value of the loan if you have a good job and earning capacity and a good credit history. However, they may ask you to pledge assets in case your job is unstable or your credit history is bad.

This is because, the bank would need some kind of assurance that, even if you stop earning or repaying your loan, they have some means of recovering the money they are going to lend you as part of the loan.

Who signs a promissory note?

The most important signature on a promissory note is the borrower. Many are also signed by the lender.

Is a new deed issued in a loan modification?

No. Deeds affect ownership of the property. A new deed isn't necessary for a loan modification.

Ex partner hasn't paid towards mortgage for 5 years does he have right towards money from sale of house?

If two people own property together they are each entitled to 50% of the proceeds. The buyer would be obligated to pay each owner 50% unless there is some other written evidence or court order to the contrary. You should consult with an attorney ASAP who can review your situation and explain your options.

If you Co-sign auto loan and the person defaults on the loan- can the finance company take your house?

No. If you cosign on a car loan and the person defaults, the finance company can not take your house in this state. After the finance company seizes the car, both you and the other person would still owe the unpaid balance of the loan.

Loan modification -fee or no fee?

Do not let anyone charge you an up front fee for a loan modification. Go see you bank and run whatever this proposal is past them.

Can you take out a bank loan for anything?

In todays world, that can be answered easily--No. But to get more technical, the general things that banks will lend money for are:

Starting a business (Companies such as SBA etc exist to help Small business owners going as well)

Getting a loan on a car

Loan on a house

Loans for things such as Jewelry, lines of credit etc are usually done through the company itself and you apply for a loan when going to make the purchase. It's largely like a credit card rather than an actual loan that you just pay off after X amount of months/years.

Also, getting a loan these days is a very hard thing to do. You need to have very good credit in most cases, especially when applying for financing on a car. And you also need to probably bring a co-signer with you that has good credit.

Use absconded in a sentence?

The bandit absconded with a portion of the bank's money.

What are your options if your car is a total loss and you have a loan on it?

YOU PAY DIF BETWEEN 'BOOK VALUE'-usually Trade In Value/Wholesale-AND WHAT YOU OWE...did you think you'd 'slide' on rest? didn't know 'rest' existed?

Can a person agree to keep on paying certain obligation such as a home mortgage?

If two people owe a mortgage and one agrees to pay it, the bank is under no obligation to free the other person from their obligations under the mortgage. If the person fails to make the payments both mortgagors will be held equally responsibility for paying the mortgage and in the case of a default it will be reported on both credit records.

The answer is yes, a person can agree to keep paying a mortgage but their agreement will have no effect on the obligations of both mortgagors.

Are the 'term loans' current assets or fixed assets?

if loans given for short term period then current assets but if given for long term then non-current assets.

What can you do if you can't pay car payment due to incarceration?

Alot of car/loan companies will work with you if you can show them proof you were incarcerated.

Does an cap rate on a ARM loan protect borrower?

The interest rate caps on an ARM loan, or adjustable rate mortgage, are designed to protect the borrower from "rate shock" or sudden extreme changes in their interest rate, which also cause spikes (or drops) in their monthly payment. Most ARM loans have several different kinds of rate limits, including the first rate change limits, subsequent rate change limits and the life of loan change limits, also called the rate ceiling or rate floor.

What are the three components of a mortgage?

The three elements are 1) The asset that is which one to be mortgage 2) The lender who make the mortgage 3) The borrower who want the loan by mortgage this three are the basic components of mortgage loan.

How can you know your name is blacklist or not?

i am saraspathy a/p raman 781109-14-5030 i want to no my name any blacklist in any bank in malaysia.