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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

Who invented the first bank?

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.

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.

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?

Can you get a personal loan at a lower rate than your consolidated student loan and still use the interest as a tax write off?

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.

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.

Consumer Alert - Advance Fees and Loan Modification Services If you are behind in your mortgage payments you may be contacted by individuals or companies that will offer to help you work out a loan?

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

How to get ex spouse off car loan?

You need written consent. Shouldn't be too hard to get, since you will be assuming the entire loan yourself. Getting the spouse off the title is a bit more complicated.

If you cosigned on a car loan and the car is in an accident am I liable?

That depends on whether your name is on the title also. Not everyone who co-signs has their name on the title. However, you should consider something else. People who need a co-signer generally have a poor credit record. Many do not follow through with responsible car ownership and allow their insurance to lapse. If they wreck the car they stop making payments. In that case the lender will go after you for the balance on the loan.

You will close on your refinance in 8 days and you have not paid this months mortgage Should you pay it Payment was due on the first and it is not the 13th The refinance will close on the 20th.?

No, as long as the loan will close this month and you will not be over 30 days late, there is no point in paying it. Your payoff will be good thru the date you close the loan. You will not get any interest back if you pay it.

What is the grace period on a credit card?

The number of days the customer can wait to pay for purchases without being charged interest

What to bring when you are applying for a payday loan?

Every payday lender differs but plan on bring at a minimum these three items:

1. Personal Identification (i.e. Driver's License)

2. Pay Stub

3. Check blank (or bank routing number and account number)

Online payday lenders require similar information; however, you typically don't need to fax the paper work in.

How do you calculate your mortgage?

You need to know the following data to calculate your mortgage. Total mortgage amount ($168,5, interest rate (4.75%, etc.), term of mortgage (30 yr., etc.). Some calculate the location of the property into it however, by using the above information you should be able to get a fairly good idea of what your monthly mortgage payment would be. Now with a variable term mortgage your monthly payment would fluxate as your interest goes up or down.

Can a cosigner of an auto loan be released from the contract?

My question is i co -sign for someone they put the down paid made all of the late now the car has been rep, is their a court i can go to for hepl, i am about to loose every thing i have work so hard for, and i have know money, what can i do for help

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.

What is collateral agreement?

A collateral is nothing but any asset (Bank deposits, your house, jewels, machinery etc) that the bank can convert to cash by selling it if you default on your loan repayment.

The presence of a collateral enhances your credit profile and improves the chances of your getting the loan.

An agreement wherein, the loan customer accepts to the conditions of the loan granting banks control over the collaterals is termed as a collateral agreement

Definition of interlibrary loan?

a use that one library can borrow books or receive photocopies of documents that are owned by another library

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