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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

How long does it take to get your money from a policy loan?

the question is why are you borrowing your own money and paying interest?

answer: because the money you are saving in your policy is not yours! u tube Dave ramsey or susie orman on life insurance. educate yourself and free yourself from those blood sucking companies who market whole life universal life ect! think about it buy term insurance and invest seperately. if u die your beneficory gets paid if u live the money is your saving is yours(not the insurance companies) and you wouldn't be worried about how long it takes to get the money out because you would already have it if you needed it!

also did you know that the amount that you borrow if not paid back comes out of the death benefit if you were to pass away? for example you have 100,00 in life coverage but you borrowed 20,000 you pass away before that money was paid back. that 20,000 comes out of the death benefit plus anywere from 6%-8% interest!

What is a pick up payment in an auto loan and how is it applied?

A pick up payment is an irregular or deferred down payment. The down payment is the amount paid up front and reduces the amount financed. Some amounts may be deffered to future dates. The amounts and dates of these payments must be disclosed on your contract and are separate from your regular payments. If interest accrues off these payments depends on the state and dealer.

Can I sell a house on contract if I have a loan against it?

Most people have loans against their houses. Such loans are called mortgages. Extremely few people can purchase a house without obtaining a mortgage. You sign a contract to sell a particular house. At that point, after the two of you have agreed to the terms and the money, then that gives the buyer the option to examine the property and check for any loans against the property. When and if the sale goes through, then the mortgage your buyer takes out will pay off the loan you owe. This will happen at closing when you hand over the keys. Closings are usually held in a bank or other business.

Is a bank loan a long term liability?

That depends, how much is the bank loan, how long is the loan for. Most times YES it would be a long term liability.

One sure way of knowing whether it is long term or current. Long Term is a loan or payable that will not be paid off in one years time. Current is one that will be paid off in one years time or LESS!

Just remember

Current Liability -

Account Payable (short term) - 12 months or less

Long Term Liability -

Note Payable (long term) - 1 year or more

Note... Liabilities that are short term are listed under current liabilities, Current Liability is the Balance Sheet category for a Short Term Liability.

Loan against trust receipt?

its a kind of a loan which is extended to let the importer sell the goods, title whereof remains with the financial institution, and forthwith deposit the proceeds with the loan extending Bank in discharge of the loan. The arrangement and loan is secured through the execution of a trust receipt.

What is mean by moratorium period of bank home loan?

In case the loan is sanctioned for construction of house, maximum period of 18 months or 1 month after completion of house / taking possession of flat / house,

whichever is earlier is allowed as moratorium period when EMI is not required to be paid and only servicing of interest, as & when applied, is required.

In case of loan granted for outright purchase of readymade house, EMI is to be paid from the next month of sanction of loan.

What is the meaning of savings and mortgage bank?

Savings is any income that is saved instead of spent. A mortgage bank specializes in starting and servicing mortgage loans.

When can you refinance a mortgage after purchase?

Yes! It is common to do so when your credit gets better or rates go down at least a full point.

How much will be your payment for a 1.5million dollar business loan?

The payment will depend on the interest rate charged on the loan.

As an example, a monthly repayment on a 1.5million dollar loan, negotiated over 30 years at 7% interest would be $9,979 each month. Calculate that each month over 30 years and you would get the total amount that you would repay - $3,592,440.

Virtually all banks have some sort of repayment calculator on them, which is helpful in finding what payments will be.

What is the contact number for BAC home loans 203K department?

It is 1-800 293-8155. dont expect too much though, they rarely answer and are pretty useless. I have a lien against my house now I have been waiting for them to help me payment for so long. The best thing is to fax your invoices and receipts with your details to 805-306-7041. Good luck - you gonna need it with BOA!

Forgiveness letter on late payment the mortgage was paid off five years ago?

This will not drop off your credit until next year. Takes 6 yrs, with or without forgiveness letter. But if you are asking do you need one? It couldn't hurt, it will ultimately up to the underwriter of your loan whether they accept it or not.

Will bad credit rating of your spouse affect your qualification for a mortgage?

Not if you don't use your spouse on the application as a co applicant or "additional income". If you don't need their income, then leave them off and no, it should not affect.

Whom do you speak to when paying off your mortgage?

Your lender should have a "Payoff" or "Reconveyance" department that can process your pay off and the removal of the lien from title.

Where do you go to get a payday loan with starter checks?

Each payday loan company has different policies on starter checks. You will need to visit a payday loan office in your area for information.

Can you take out a personal loan for a house?

No. It is unlikely any lender would grant an unsecured loan for a house. They want to be able to take the property by foreclosure in the case of a default.

How can you negotiate on your car loan with bad credit and no money?

If you have bad credit and no money you should not be looking at a loan. Get your life straightened out first. Cars are not required, good credit is.

In a mortgage who is the mortgagee?

The lender is the mortgagee. The person who borrows the money is the mortgagor.

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