Loans

As is the case with every type of Loans, the interest rate differs from bank to bank.For example in India, the Educational loans are available from Nationalised banks as well as from Co-operative banks.Now all nationalised banks charges the educational loans the rate of interest varies from 12 to 14.5%.But if you approach the co-operative banks the interest rate is generally 11%.(All this refers to Mumbai region, and my personal experience in this matter).Allahabad Bank for example gives Edu.loan at 11%.But the best bank to avail Edu.loan in my view is 'Corporation Bank',which gives loan at 10.5%.Generally all bank charges 0.5% less( than their normal lending rate ) for the girl student.

If you are planning to study at USA, try to avail this loan from different USA lenders in this field, as the loan is really very cheap over there.But the only problem in that case is, you should have somebody in USA who is Either Permanent Citizen or a Green Card holder and having a good credit history and is willing to sign your application for the loan as a Co-borrower.In that case you can avail the loan at 7 to 8.5% interest rate.A private lender there is one 'Sallie Mae'.(Visit www.salliemae.com) There are many others also.

The major difference between Indian Banks and Private lenders in USA are as follows.

1)In India, Loan will be given upto Rs. 20 Lacs for foreign study, subject to your keeping of an savings bank A/c with that bank for atleast 2 years(Or at a discretion of bank Manager). You will be asked to share 15% of your margin.So for a 20Lacs loan, you need to provide 3.0Lacs from your pocket.(So effectively they give you only 17 Lacs)

2) Your repayment start after 24 months(Considering 2 years period of Master's Degree) or within 6 months of your getting a job.But in any case total time for Repayment is given as maximum 84 Months(7 Years) 3) To avail this loan of Rs. 20L, Banks will ask you to keep 150% of 20L ( which will be about 30L) by way of Collateral Security,mainly Immovable property like Residence(Which will be in name of Parents),Shop or any commercial property is to be mortgauged.If one is not able to pay back,they will sell these properties at market rate and will recover their Money,is the main idea).As against it in USA 1)No limit like 20L etc..2)Rate of interest is low(Linked to LIBOR rate) 3)Repayment period is 20 Years.So even if you are not getting an immediate good job after completion of your study, you are not in danger.Sufficient time is available to you to repay.

Private bank like ICICI provide all sorts of loans, like Car Loan,Personal Loan etc...but do not provide any educational loan.In my view,it is every bank's social resposibility to provide loans to most of our Indian deserving students.One should not be deprived to get higher Education for want of money. Ashwin Mehta Tel: 9867726090(M)

e mail : ashwin53@yahoo.com

The best answer for this question is to use your line of credit to buy this vehicle if it is for personal use.

Most reverse mortgages today are government insured reverse mortgages. This simply means its an FHA loan. The FHA HECM program insures the loan to the lenders, provided they follow FHA's guidelines for doing reverse mortgages.

I believe your question is: Can you get a loan if you already own a home? The answer to your question is YES! You can still obtain a home loan even if you currently own a house. The key is that you will still have to qualify for the loan. That means that you have to show proof of income for the past to years, you have to have good credit history, savings, and 2 years of tax returns. Chances are that you will have to put 10-20% down on your second property, this is because banks believe that by lending you money on a second home/property they are assuming a bigger risk, so they make you invest a higher percentage upfront. I hope this answer helps.

If you have more questions please call me at:

Shira Crawford

Realty World

Monterey, California

(949)232-3232

I assume that you are talking about life insurance to cover your mortgage if you die. Life insurance is issued all the time for people with diabetes. Depending on the type and severity of your diabetes, an insurance company will most likely offer you a policy with a slightly or greatly increased premium. Talk with an independent insurance agent in your area, be truthful with them and they can find the best company for you and your situation.

international development agency

If you were to take out a home equity loan and pay for the mortgage recording tax, it would be deductible and the IT-256 form must be used to claim it.

Generally, but there are limitations and qualifications.

See the related article for more details.

Should who's insurance cover who's car??? The Brother who owns the car will have to file the claim with his insurance policy. Insurance follows the car, not the driver. If you didn't have the Sister listed on the policy as a driver the company can deny the claim for material misrepresentation. Then you will have to pay the claim yourself.

Not exactly, the IRS can and will attach any further Federal refunds until satisfied. At the state level, the Dept. Of Education can request your state refund. But why would it when it can very easily have a wage garnishment order issued?

The best thing you can do (speaking from experience) is to call your lender that you are in default with and make arrangements. It will NOT EVER go away.

Different bonds have different maturity dates. Additionally, there are different type of bonds, some provide interest based on the face value, and some provide the face value upon maturity.

30 days

The total of all 1098's; If you only have one ... then that total.

The short answer is yes. The long answer is that when you co-sign a loan for another person, you agree to be responsible for that loan should they default so if they fail to pay the loan back, the creditor will expect you to shoulder the responsibility. If you fail to pay the loan back, it goes on your credit report.

Title insurance and mortgage insurance are NOT the same.

Title insurance policies are written to cover a specific tract of land and can be offered to either the mortgage lender (called a lender's policy) or the purchaser of the property (called an owner's policy) and is usually paid out of closing costs. Title insurance protects against any hidden defects in the title to the property that would not be disclosed by a search of the public records, such defects including, but not limited to, a forgery of an earlier transfer document, a missing heir of a previous owner suddenly appearing to claim an interest, or human error in indexing the records. Most mortgage lenders will require a title insurance policy and will pass the cost on the their borrower. Owner's policies are usually optional but highly recommended, as they usually require only a very low one-time payment and can prevent potential attorneys fees and other costs, in a dollar amount up to the purchase price of the property. The insurance policy will protect an insured owner for life, even after he or she moves away from the property.

Mortgage insurance policies are written to cover a specific loan solely to protect a mortgage lender. Mortgage insurance is meant to protect the lender in the case the borrower defaults and does not make his/her payments, so that the lender must foreclose. This policy is most often required when the borrower does not have enough "ownership" in the value of the house relative to the loan amount. (The typical requirement is at least 80% equity, which for a buyer translates to a 20% or higher down payment.) It allows a buyer (in the case of a loan made to purchase property) who normally would not have enough cash for a down payment, or an owner (in the case of a loan made to refinance property) who does not yet have enough equity in the home to still obtain a loan. The conventional belief of financial institutions is the less a borrower feels he has invested in the house, the more likely he is to "walk away." The mortgage insurance is meant to make up the difference in the debt-to-equity ratio. It, too, is a cost passed along to the borrower, but as part of the monthly mortgage payment. With loans insured by the Federal Housing Administration (FHA) program, an up-front mortgage insurance payment will also be required, usually about 3% of the loan amount, paid at closing. Federal law allows the insurance to be cancelled, as it is no longer deemed necessary, once the borrower gets enough equity in the property over time, as he makes payments toward the principal balance of the loan.

Endorse the check & send it to your Mortgage company. They will decide how much you get from it.

The two phrases refer to exactly the same thing. No need to worry, they have the same legal effect.

Until your car loan is paid in full. Usually around 36 months, give or take.

If you mean because you're in default and want to avoid foreclosure, it's called a "deed in lieu of foreclosure" and it's usually part of an overall agreement that hopefully also extinguishes the mortgage debt. Typically the mortgage company is not required to accept it. They drive the bus.....

1% equates to 1/100 of a number .

So 1% of the loan can be found by multiplying the amount of loan by 1/100.

And this is equivalent to dividing the loan amount by 100.

EXAMPLE : Say loan = $15,000, then 1% = 15000/100 = $150.

Absolutely - Depending on the age - it can range as long as 20 years

I am not a lawyer but any car loan I have ever signed, the following are true. The car is the collateral for the loan. The loan company a.ka.,the bank, is the owner of the car and holder of the title not you. I also make the promise that I will maintain what we call collision (accident loss) and comprehensive (theft, vandalism, weather etc. loss) which protects the bank from loss by insuring the vehicle is paid for in the event of a loss. The State mandates I carry my liability coverage. So I gather in some parts of the country this would be called full coverage.

The other important issue is because the car is in fact owned by the loan company they are listed on the insurance document as the 1rst loss payee. So if in fact you are insured the loan company will be paid first. You promised to pay the loan company x dollars when you signed the note. Nothing will relieve from paying that amound plus accrued interest. If the settlement is not enough to cover the outstanding loan balance then you owe the remainder. If you cancelled your insurance or let it lapse for non-payment then you are already in default on the loan just has if you had missed payments. Per the terms you signed the loan company can demand immediate payment for the entire outstanding balance on the loan and start whatever processes it needs to collect that money including its legal fees to collect the money. All of this will affect your future insurance rates and your credit score. In most but not all states things like credit rating, insurance performance (cancellations, non payment, length of continuous insurance etc) will affect any insurance premium or loan interest in the future. You need to be upfront with everyone, take your financial hits and move on. It will only get worse, You see a lot of this issue. The lesson here is don't by more care than you can afford and insurance payments are every bit as important as your car payment. They are not an option. Never buy a car that puts you under water. That is you owe more than the car is worth. Generally this means putting down some kind of reasonable downpayment (my personal guideline is at least 30% of the purchase price of then vehicle) , never finance a new car for more than 4 years or used car for more than 3 years unless it's a vehicle that holds value extremely well like a new Mercedes. If you the find the payments plus the insurance are exceeding your budget, time to sell it and buy something with in your budget before trouble hits. Just because someone offers you a car loan with a 1000 down and finance the rest, doesn't mean you should take it. In fact you should run. This guy cares more about his commission than your financial well being. Unlike buying a house which is usually an appreciating asset, a car is a depreciating asset or expense.

It may be nothing,it could be a few points. It all depends on the lender and loan "program". The main purpose of points is to "buy down" the interest rate. So for example a 30 year fixed rate loan with 20% down with 0 points may have an interest rate of 5%, with 1 point a rate of 4.75%, 2 points 4.5% and so on. Other loan programs (ARMS, I/Os) may vary how points and interest rate are interrelated. What it amounts to is prepaid interest on a long term loan and a way of capping your monthly payment if you can afford the up front points.

$4,918,262,770,000

2007 US Census

$100,904 (avg. principal owed) X 48,742,000 (owner occupied homes)

Note: 24,885,000 owner occupied have no mortgages