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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
Is a note valid if not signed by mortgage lender?
Yes.
The mortgage secures the debt. The note is simply a promise that you repay the money.
If you sign the note, then you are liable for the debt. The note is simply your promise to pay back the money you borrowed.
If you signed the mortgage, and you default on the promises and covenants of the note and mortgage, then the mortgagee (bank) has the right to foreclose on you. The default of mortgage payments are a breach of contract which allows the lender to foreclose on your home.
What does payment immediately due net?
Payment immediately due net means that you must pay the amount due immediately. You will commonly see this on bills, both in paper form and online form.
Can a husband be the only signatory on the housing loan application?
Yes, a husband can purchase a home without his wife signing.
If you make one mortgage payment past 30 days what are the consequences?
In most states, there are no foreclosure ramifications. You will in most cases have a 30 day later reported on your credit report. Additionally, you will have a late fee equal to 5% of your mortgage payment.
Yes, in most states.
What happens to a reverse mortgage when a person dies?
The person entitled to the home may do one of the following.
1. Refinance the home into their own name.
2. Sell the home, pay off the existing mortgage and keep any assets that are left over.
3. If the person that passed owes more than the home was worth, the heirs may walk away from the home. No other assets may be attached.
4. Upon the death of the mortgagor the heirs must pay off the mortgage or the lender will take possession of the property.
After the owner's death the bank will allow the heirs a time period during which they can pay off the mortgage if they want to keep the property. However, if they do not then the bank will take the property.
How do you get a co-buyer off of a car loan if they are in default?
You don't. If the cobuyer has possession of the vehicle and is no longer making payments, you as the buyer may take possession and either take up and make current the payments, or voluntarily surrender the vehicle. Failure to do so will result in repossession, and will adversely affect your credit.
How do you say to borrow in french?
The way to say "to borrow" in French, is "Ã emprunter. " When you talk about borrowing something, this means to use something and give it back later.
Can a bank take property they have no interest in?
Yes, a bank can take property that they have no interest in. This usually happens when a person has not paid their loan, and now has no right to the property.
Can you reopen a car loan account that has been charge off to pay it off in a payment plan?
No. Once the loan is charged off, it is technically off the lender's active books. It is still advisable to pay off the charged off amount so as to correct any issues it may have created for your credit rating. Be advised however that if you do not have a signed agreement with the lender, they are not required by law to accept any partial payments, and can refuse anything less that payment in full.
Pay the Mortgage Insurance Premium at closing and in your monthly payment?
If it is an FHA loan, you will pay Upfront Mortgage Insurance (around 1.75% of the loan amount) at the time of closing ( usually added to the balance of the loan ). Then you will pay a monthly MI payment ( about .55% added to the interest rate) every month.
What is the equation for working out pay-back time?
I'm not sure but I think it is:
pay back time = how much money you save / how much you spent on the applience
What is mortgage principal curtailment?
A mortgage principal curtailment is an additional payment to principal.
Can a car be reported as stolen because the loan went into default?
Can it? Yes, by the lender in some case. If the debtor is actively attempting to hinder repossession in many states, or if the vehicle is in possession of a third party who is not on the loan or vehicle registration, then a repossession agent may file a stolen vehicle report. Most will not, preferring to allow the lender to take such action instead.
Can it be reported stolen by the debtor once repossession takes place? Often vehicles are reported stolen after repossession happens. However, this is a cautious area. Most debtors already know the vehicle is being sought, and law enforcement takes a dim view of filing false or malicious reports.
What is the worst APR in auto financing?
1730 per cent one day money lender on tv !! how can this be legal
How does a reverse mortgage work when you die?
The lender gets the property when you die. If your heirs want to keep the property then they must pay off the reverse mortgage within a certain time period after your death. However, the costs are often very high. The lender should be notified of the death of the owner. If the heirs cannot pay the lender will take possession of the property.
A payday loan without a teletrack?
A No Teletrack Payday Loan is specially designed for those people who want instant cash money but could not avail any loan just because they have got bad credit scores. Since there is not any kind of teletracking incolved, hence people with good credit scores as well as bad stand on an equal footing.
But you should know that these loans are of short term basis and you would have to repay the loan amount by the time you get your next payday or at a maximum of 6 weeks; whichever is earlier.
Why are banks unwilling to give loans to small businesses?
Banks are unwillingly to give loan to smal business because of the following:inability toprovide the needed or required collateral security
lol level of capital formation by small business
vicious cycle ofd penury in nigeria
What is the defference between legal mortgage and equitable mortgage?
A legal mortgage is one created under law. Every jurisdiction has its own statutory requirements for legal mortgages. Typically, the party offering real estate is known as the "mortgagor." The party offering money is known as the "mortgagee." In most states, the transfer of interest to the mortgagee gives the mortgagee the right to take the property only if the mortgagor fails to pay as promised. However, a few states' laws hold that a mortgage is an actual transfer of title, and the mortgagee is the legal owner of the property until the mortgagor pays off his debt.
Equitable mortgages are relationships that don't meet a jurisdiction's legal mortgage requirements. When an arrangement looks like a mortgage and smells like a mortgage, some jurisdictions' courts, known as courts of equity, will recognize the arrangement as a mortgage even though it isn't a legal mortgage. In such cases, courts will usually look for the basic elements of a mortgage: a debt from one party to another for an amount significantly less than the land is worth and some sort of promise to return the land upon payment. If the court finds these elements, the arrangement will then be treated as a mortgage under law.
Can A Car loan deficiency be owed in California if the Car is repossed?
Yes. As the comaker on a loan, you are equally responsible for its payment. In the event the other party defaults, you either pay the loan yourself, convicne the other party to, or if able file bankruptcy.
How can i take my name off a loan that I'm on with my ex wife whos is going to file bankruptcy?
You can't. What you may be able to do is go back to the divorce judge and motion for a separation of property. This may or may not work, as both of you signed the contract, and such action would in effect break that contract, which a judge is unlikely to do.
How can you get out of a reverse mortgage?
You can refinance out of a reverse mortgage at any time, there is no prepayment penalty. you can also sell whenever you want and move. Any equity remaining will be yours to keep. If there is negative equity in the home you can turn it over to the lender and will not face personal recourse against you or your assets provided the reverse mortgage is a HECM reverse mortgage insured by FHA- most are.
If you are late on your loan payment and are a cosigner on your daughters car can they repposses the car?
