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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
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.
If two people are on title can one renew the mortgage without the other?
no for the it is also rightly the others
The First Bank was a bank chartered by the United States Congress on February 25, 1791, Officially proposed by Alexander Hamilton, Secretary of the Treasury, to the first session of the First Congress in 1790
Do pawnshops offer loans to people who are starting businesses?
they only offer loans for things that you bring in.
no loans for businesses unless you bring in hard goods as equity.
if you are looking for loans from pawnshops as a last resort, don't start your business.
When does the bank require a cosigner?
The banks want to know that they will get the money that they are owed back. Too many people today fail to pay back loans for a variety of reasons, both honest and dishonest. If you do not have an established, suitable credit history, a bank has no way of knowing if you are a good credit risk (reliable in paying your debts). By having a cosigner with the appropriately established credit history, if you fail to pay the loan, they can make the cosigner pay the loan. That is what the cosigner is singing for, to pay back the loan if you fail to do so. If you loaned money you would want to make sure you got money back, wouldn't you?
That depends on the country you live in, of course. Assuming the United States, it would appear that line of credit extensions and the interest thereof are in fact tax deductable, however I would suggest consulting a professional, or at least drop the 30 bucks for a copy of turbotax. Interestingly enough, the cost of the software it's self is tax deductable.
What is the purpose of Swaskita?
don't you mean the swastika? the swastika was the nazi symbol.
don't you mean the swastika? the swastika was the nazi symbol.
Can Personal loans be between two people?
Personal loans cannot be between two people since it is applied only for one person.
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.
Has anyone heard of Loan Point USA?
Yes, Loan Point USA is a financial services company that offers various loan products, including personal loans and installment loans. It operates primarily online, providing quick access to funds for consumers. However, as with any financial service, it's essential to research customer reviews and terms before proceeding.
Loan modification companies who ask for upfront fees or charge may be questionable. Best practice is to make an agreement of a service charge once the loan mod application is approved by creditor. There are many payment schemes for this but do not go for advance payments.
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Another viewpoint by Gail Simmons:
A little known fact is that banks and loan servicers hate working with loan modification companies and attorneys. You, as the homeowner, are your best advocate. You will fight the hardest to keep your home using a loan modification. You just need the right tools and strategies to overcome the stall tactics loan servicers like to use.
You can check out the resources available at http://LoanModificationHomeownerResources.Org
When a loan is in default does the lender have to notify the cosigner?
When a loan is in arrears (past due), the creditor has the legal right to contact the cosigner unless the loan is included in bankruptcy. The Fair Debt Collection Practices Act states this fact. The sole purpose of a cosigner/guarantor is to guarantee the loan, hence it is likely if no payment arrangements have been made by one, they will collect from the other.
