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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 can they sue for non-payment if they are not part of the agreement? Why wouldn't the spouse sue?
Most likely, nothing, as long as the payments continue on time. If the payments stop, the lender with foreclose on the property and the borrower's estate will be impacted. The payments are still due beyond the death of the borrower - they become the responsibility of the borrower's estate.
An equally important question is who is now the legal owner of the real estate. If the decedent didn't transfer the property to a survivorship tenancy with another, their estate must be probated in order for title to pass to the heirs at law or under the terms of the will. An estate of real property must be probated in order for title to the property to pass to the heirs legally.
What is a sample of a request letter for a company loan?
Dear Sir,
It is with great anticipation that I am requesting an advance on my salary of the amount of $00000 (write amount in words).
The advance in salary will help with an unexpected financial need. Of course, I will expect to repay with terms agreed upon, and prefer that regular payments be taken out of my salary.
Your kind consideration will be highly appreciated.
Sincerely,
Are FmHA and USDA loans the same?
The FMHA loan program, often referred to as Rural Housing or USDA Loan program, is a very unique type of program through the Farmers Home Administration (a federal agency under the Department of Agriculture) which is designed to help average to below average income borrowers purchase homes in rural areas - oftentimes without the need for a down payment. The Farmers Home Administration (FMHA) Loans are government guaranteed loans for low to mid income level borrowers seeking to buy affordable housing in rural communities. These loans are not available in major metropolitan areas. These loans are made to applicants who do not now own a home and the loans are used to buy existing houses, buy new-built houses, or qualified new manufactured houses located in rural areas.
Life insurance paid to your estate could possibly be used to pay off personal debt. However, if the life insurance is paid to a beneficiary, it is their money, not yours, so the beneficiary has no obligation to use the money to pay off your debt.
Only one trick at this time. Whenever you go out in the market for shopping a home loan always have a copy of your credit history with you. Of course you have to spend at least $10.00 to $20.00 dollars to have your credit score. It would do a few wonders such as:
1- It would make you look a smart loan shopper.
2- You would be able to bargain better loan terms.
3- You would be able to work with more than one broker at the same time to buy
a better loan deal as we know when brokers compete for your business you win.
4- It you allow more than one broker to print out your credit report it would decrease
your fico score. It also increases the number of times your credit report has been
ordered and would stay on your report for years to come.
5- And last but not the least always work with more than two brokers for a loan, any
kind of loan. Let the brokers race against each other to win your business. Let their
numbers do the talk. At the end of day whoever gives your better deal just take!
and yes, you can count your own money much better than any body else.
Can i still get financial aid if you owe student loans?
Yes, you just have to be in good standing. Not delinquent. If you are delinquent, there are options such as forbearance and deferments for bringing you current so you can get more loans.
Is there any banks that will give loan to people who are in chapter 13?
If it is possible, it would be difficult as bankruptcies do terrible things to your credit. Potentially high interest rates as well with very strict terms.
Can you take out a mortgage on livivg estate that's in your name?
It is possible. It is not likely to be very favorable terms, but if the bank is willing to do it, they can. Consult with your bank that knows what the rules are for where you live.
What is the difference between loan and investment?
A loan is an agreement between us and the loan issuer wherein we borrow a fixed amount of money from them and then repay the money along with interest. Ex: home mortgage loans, personal loans, car loans etc
An investment is nothing but depositing money in an financial instrument which would appreciate in value over a period of time and give us profits. ex: shares, mutual funds, real estate etc
Is a balloon mortgage the same as a mortgage?
No. A balloon mortgage is a relatively short term mortgage with a huge payment due at the end of the term.
A mortgage is generally for a longer term with uniform payments for the life of the mortgage unless it is an adjustable rate mortgage. In that case the interest rate increases after the first couple of years and the payments go up.
How can an interest on personal or credit card loan spent to purchase a home be made tax deductible?
One of the conditions for deducting mortgage loan interest is that the loan must be secure by a properly recorded lien on the property. If the person or company giving you the loan is not getting a lien on your property, you cannot deduct the interest. There are also several other conditions.
Take out a home equity line of credit instead.
include intial start up and equity
Can you keep a car that your name is not on loan but was given to you by the deceased?
You need to have the title transferred to your own name and notify the loan company of the change in ownership. Then you will need to pay the balance of the loan or renegotiate the loan with the bank. If you don't pay the loan the car will be repossessed.
Title loans have a variety of different names like car title loans, auto title loans, pink slip loans, loan max title loans, title max loans, cash title loans, cash loans for car titles and the list goes on. They have different names because of the varying title loan companies that label them differently.
Basically though, title loans use the equity of a person's vehicle as leverage to get that person a loan. Many of the title loan websites will say, "a person can use their car as collateral for a car title loan!" Even though they are overly enthusiastic, essentially they are right.
Title loans are most commonly used as short-term loans. Some call them emergency loans. Another similar loan are called payday loans. Though they are similar - there are some differences.
- title loans come with better interest rates than payday loans (using the car as leverage for the loan allows this)
- title loans usually allow for a longer grace period before repayment (this probably varies between companies)
- title loans allows more borrowing power for customers - in some states it can be as high as $40,000 (payday loans usually allow people to borrow no more than $1500)
Those are the major differences. Each State regulates them differently. It is a fairly new industry, so States are becoming more strict with rules & regulations. This makes title loans a better option for consumers.
It is my opinion that they are best used to avoid ridiculous hidden fees & hidden charges by banks and credit card companies. Title loans can save people money.
Title loans are popular to 'those' people with no credit/bad credit (probably more now than ever). With this being said, people can be irresponsible with borrowing and may fall behind on repayments of the loan. In this event the title loan can be rolled over to the next month. Customers should NOT continue to roll over their title loans. This comes with expensive circumstances! To avoid this, it is recommended to only borrow what is absolutely needed and make the necessary financial corrections in your life ASAP to make repayment possible.
Title loans are only valid in certain states but the most popular is California, Nevada and Illinois. There are companies large enough to care about their future and have many partner companies to get the money.
Once the seller accepts an offer and signs the form it is usually leagally binding, unless there was a written clause in the contract that states the seller can take better offers at a later date. As a buyer, I wouldn't allow that kind of a clause or stipulation in any contract that I sign.
Since your ex-fiance cosigned on the loan, they are just as much obligated to the contract as you are. The only way they could get their name "off the loan" was, as you said, for the original borrower to obtain a new loan, in order pay off the original obligation. If this is not possible, then she is locked into the original contract.
Can you get a another loan if you paid your first one off?
yes. but the thing is you have to pay that one back.
A legal mortgage of unregistered land in which the mortgagee does not keep the title deeds of the land as security.
What is a Commercial real estate loan?
A loan provided to a borrower by either a bank, the SBA (Small Business Administration), or private lender. These loans are typically made over a long term, most often with larger banks the buyer is looking at a 10 year fixed rate with a 20 year amortization. Smaller banks have been seen to do these types of loans for a 5 year fixed rate and a 10 year amortization. Rates are based on Prime + a spread or LIBOR + a spread (spread being basis points above Prime or LIBOR). The borrowing entity will have to provide the commercial real estate as collateral and will most likely have to put 20-30% as a down payment, the bank finances 70-80% of the cost. (SBA only requires 10% down in most cases). Typically there is also a guarantor on the loan. Borrower must show they are able to make payments on the loan either from a primary or secondary source of income not related to investment property.
What happens if someone pays their first mortgage but not their second?
The mortgage companies will end up fighting over the proceeds when your house is sold after foreclosure.
