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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

Where to get a loan?

Before getting a loan a lot of things are to be considered. Previously people was not so busy and they directly had go to bank and apply for loan. Nowadays, people are busy and they have short time or even no time to go bank and apply for loan.

What are the general objectives of banks?

To collect deposits from people and grant loans to other people and make an income out of it.

Are Auto loans are a type of unsecured loan?

Auto Loans can both be unsecured and secured.

In secured auto loan the car that you purchase is a collateral for that loan; thus, it is backed by an asset (your car). If at any point you cannot make the loan payment, they have the right to take your vehicle back. This type of loan carry a lower interest rate. Whereas, unsecured auto loans will have a higher interest rate and you need to have a very good credit history to be qualified for unsecured car loans.

What happens if you move and have a reverse mortgage?

Just pay off the reverse mortgage just as any other loan. If there is negative equity you can leave the home to the lender who will take the loss. A reverse mortgage is a non recourse loan, meaning the lender does not have personal recourse against the borrowers if there is negative equity in the home.

Will they take your state tax return for student loans?

Yes: Any money that you have coming from federal or state will be taken. A letter will arrive stating that a debt has been forwarded to the Franchise Tax Board that you owe on behalf of the IRS. Its really a sad situation!

How is taking out a loan similar to buying an item on credit?

One takes a loan in order to get the value of something now while paying for that value over time. Buying an item on credit is the same - you get the value of what you purchase now and pay for that item over time.

What is the FHA term for the amount of money that a homebuyer must pay in cash or its equivalent when applying for an FHA loan?

I hope I'm understanding this right. If you're looking for the term that FHA uses for the minimum down payment (assuming that all other qualification criteria are met), that's called the "Statutory Minimum Required Contribution." At present, it's 3.5%. That 3.5% can't be closing costs and prepaid items, it has to be 3.5% of the contract sales price. It can be person funds or gift funds from a blood relative.

What is the amount of loan on every citizen of India from World Bank?

our country's total population is 1.21 billion (upto 2011) and total lending amount from world bank of our country is 9.30 billion (upto 2010)... so you can calculate the individual amount of every citizen...

If my sister and her husband took out a mortgage with my mom as a cosigner and are now behind in their mortgage payments will my mom's estate responsible for the mortgage?

Each person who co-signs a mortgage is equally responsible for paying the mortgage.

If your mother has died then her estate must be probated. The debts of the decedent must be paid before any property can be distributed to the heirs. You need to consult with an attorney who specializes in probate in your area who could review your situation and determine what the obligations are regarding the mortgage.

Can 401k loan rollover into a new plan?

No - When you're completing a rollover to a new plan, whether it be an IRA, 403B, 457, or 401K, it is considered to be a "Lump Sum Distribution" of the account. When you take a "Lump Sum Distribution" it automatically defaults the loan on your 401K. "Default" means that it is reported to the IRS as a taxable distribution - So you will be subject to tax and possible penalties on the portion of money not payed back as well as accrued interest.

Can a bank give a mortgage commitment for a purchase of a home if the title to the home is not cleared?

Most banks will give potential borrowers a loan commitment, even if the title is not clear because the banks reserve the right to deny final approval and funding of the loan if the title is not cleared by the time of the closing.

A loan commitment does not mean much else than that the bank is willing to lend money to the borrowers based on their credit history and financial status -- not that the home is ready to be transferred and the bank will participate in it.

What is prepaid interest charged by a mortgage company called?

Points are upfront mortgage interest that you pay the bank in order to reduce the rate that you pay over the life of the loan.

Are discount points worth it? Sometimes yes. Sometimes no.

The general "buy down" is what we call it in the industry is that you pay a half of a point to get a 1/8 reduction in your rate for the life of the loan.

That's a general rule of thumb. Doesn't always apply, but that's a general rule of thumb. A point is 1%. 1% is one point. And if you're borrowing a hundred thousand dollars, that's $1,000. But if you figure out what the savings are over time, you'll find that by paying half a point or one point you'll usually benefit in the long run.

If a car loan was reaffirmed with notes current in a Chapter 7 can a credit union force a debtor to get other financing for the vehicle loan and then also force her to close her checking acct?

Credit unions have an unusual tool in their arsenals that's perfectly legal: They can revoke your membership (and ban you from rejoining) if you have ever "caused a loss" to the credit union--including discharging ANY debt owed to the credit union at ANY time. If she had another loan (NOT the car note) from the credit union before bankruptcy that was discharged, that's legal.

If the car note was her ONLY debt to the credit union, it's probably improper; but I expect you'll need a lawyer to fight it.

Loans backed by tangible assets are known as loans?

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How can a 18-year-old get a personal loan?

At 18 you are of legal age to be legally bound by contracts that you sign. If you have a good history of paying bills that are in your name (cellphone, credit card, etc.) than it is safe to say that your credit score is in good standing. Lenders will look at your credit score, your current debt, current income, and based on that information determine your interest rate. At that age you should be more concerned with how you can make the money you need vs. borrowing the money. Borrowing money is expensive and if it is an unsecured personal loan, meaning there is nothing that the lender can fall back on if you stop making your loan payments, the interest rates can be significantly higher than if you have some collateral such as a car, home, etc.

If both people are on the loan but one person paid can the other person take the other person to court for some of the paid debt?

Yes. Whether or not you get results will be dependent on a number of things, but it would appear that you have a good case there (although one can't be 100% certain without knowing the details).

How pinjaman personal loan bank muamalat macam mana?

hi ....sy.apa pinjam pun tiada .... Saya sudah membuka syarikat empat belas tahun ..... bolehHelpme membantu personal loan 30% kopi 0147107105

Can you rent an apartment if you are already cosigned on another?

Yes, there is no limit to number of Apartments you can rent/cosign on.

However, the new landlord may run a credit check/background check on you, if you have too much debt or cosigned on another apartment they may consider you to be roo risky to rent to.

How can you be able to make a down payment?

There are all kinds of ways to come up with money for a down payment including savings, borrowing from a family member, taking out a payday loan, using a peer to peer lender, selling stuff you own, or getting a second job. the method you chose deoends on how much money you need to come up with for your down payment.

After you've paid your car and the interest rate is left on the loan and you don't pay can they repo the car?

after paying the auto loan to cover the car and more. What's left is the interest rate the lender adds on at the end of a loan, if you become delinquent in paying on the interest added, can the care get repo'd?

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