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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

Cost to refinance mortgage?

It can cost alot, it depends on your situation. What are the cast you are getting quoted and i will let you know if they are reasonable.

What does a step loan mean in a loan modification?

A "step-rate" modification states that you will have a changing interest rate. For example, the first 5 years, your interest rate will be 2%, the 6th year will be at 3% and beginning the 7th year, you'll pay a fixed interest rate of 4%.

Step rate modifications always become fixed rates in time (normally after 5 years)

Can you be held responsible for your spouse's student loans?

No. You're protected by "injured spouse relief." If you've filed a joint return, you can get back your share of the offset refund by filing Form 8379 [Injured Spouse Allocation].

Where do you get training to be a loan modification consultant?

First, it is important to check with your state and determine if there are licensing requirements. Most states now regulate who can do loan modifications for compensation. This is due to the recent rise in loan modification scams.

What happens when you dont pay your student loans and financial aid back on time?

Most loans have programs for deferral and for lowering your payments when you are unemployed or not making much money. So, the best idea is to call them and make arrangements when you need the help. However, at some point you will need to make serious plans for repayment.

Look at your loan agreements. For regular loans, they can take you to court and you may end up having your pay garnished or otherwise diverted. For federal loans, there is no statute of limitations; you must pay them. Tax returns and credits can be accessed for payment.

Both types of loans are reported on your credit report.

What is installment trading?

Installment trading means that a person can pay for the goods over a certain time.i.e. consumer can buy the goods first and pay for them later.

Got this from my notes. :D

In Oklahoma if you receive 45K in an inheritance and decide to payoff your own mortgage do you still have to pay taxes on what you inherited?

The use of the funds doesn't change their taxability. And lord knows why you would think paying off a debt (mortgage) would get some advantage. But, I'm not at all certain the inheritance is taxable anyway.

Age for co-signing on vehicle?

in most cases of legal agreements you can be at least 17 when signing a car agreement but they may ask for a parent guardian to sign as a gaurantaur. this can happen even if you are over 18 if they do not have enough information about your credit history in most cases of legal agreements you can be at least 17 when signing a car agreement but they may ask for a parent guardian to sign as a gaurantaur. this can happen even if you are over 18 if they do not have enough information about your credit history

Explain the difference between a bank loan and a bank overdraft?

A bank loan means the bank is loaning or lending you money that must be repaid to the bank under a certain set of parameters or guidelines that include interest payments, i.e. you must pay a predetermined amount back to the bank each month, by a certain date. The bank makes money on the loan by charging the Customer interest, an amount over and above the original loan amount. A bank overdraft means a Customer has written checks against their bank account which total more than the amount of funds they have available in that account, otherwise known as a "bounced check". This typical results in additional charges to the Customer by the bank, otherwise known as NSF or "Not Sufficient Funds" fees, typically ranging from $15-$35. In addition, the entity (company) which you made the check payable too, may also charge an additional fee to your account in the same dollar range as the bank. In order to get a bank loan, your credit must be approved. Oddly enough, if your bouncing checks, you may need a lone, but will have difficulty getting approved by the bank as it will negatively affect your credit rating.

Are mortgage payments on an investment property an expense?

Any payments you must make from Gross Income to keep the property running are expenses. Although a mortgage is usually also called a Liability Expense, it is still an expense to run the property.

How difficult is it to get a car loan after being discharged from chapter 13 bankruptcy?

It's fairly easy to buy a nice used car after you've been discharged from bankruptcy; there are companies that send mailings to these people offering them car loans.

You'll pay a high rate of interest,though. Buying a nsw car or leasing a car tends to be more difficult, but if you have an income adequate to pay off the loan, you may be able to get those, too.

Statement of what is owed on loan?

My name is Linda Phillips, Wyndham Rewards issued a credit through your bank for $3800. I do not have my acct. # but it ends in 2649. I live at 1401 Chicago Ave., Egg Harbor City, NJ 08215 I haven't received a statement since I made the first payment of $100 by phone since Oct. 2011.

Can you help me.

Can you use your student loan for buying a car?

Yes in theory you can, once you receive your student loan as a lump sum you can use it for whatever purpose. But it is not wise due to the risk of your education.

What kind of loans does the World Bank make?

The world bank lends money to memeber nation so that they could be carry out the work of public importance and usefulness.

Can you leave a chapter 13 bankruptcy open and refinance your current mortgage if the mortgage?

This question is incomplete. In most districts, you cannot incur new debt if you are a debtor in an active chapter 13 case. To refinance or incur any new debt, you have to obtain the consent of the Standing Chapter 13 Trustee in your case.

How much money and time do you save paying an extra monthly payment to principal on a 15 year mortgage?

In general you will reduce the payment by one month for every month's principle you pay ahead. It would take about 8 years.

There are many online mortgage amortization calculators available. You will need also the percentage rate.

Can my wages be garnished to pay the balance of my auto loan after my car has been reposesed?

That depends on if the lender uptained a judgment againt you. They would have sought a judgment if the value of the car exceeded the balance of the loan at the time it was reposesed. Some peole are stupid enough to intentionally make their car worthless if it's going to be reposesed. The differanc between the value of the auto and the loan is what the lender will go after.

Can a cosigner own the car if they dont pay the loan payment?

If their name is on the title, they are a co-owner with as many rights as you have. Otherwise, they do not own it at all, although they could have some legal claim in the form of a lien.

If you default on a payday loan can you get arrested in the state of Colorado?

You cannot be arrested anywhere in the United States for failing to pay a debt (other than taxes or legal fines, perhaps). If you have committed some other crime in conjunction with accruing that debt, then you could be charged for that. For example, fraud or intent to commit fraud by taking out a payday loan under a false name or writing a bad check to pay back the loan.

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