Loans

it gives you an electric shock

Function of mortgage bank is to lend for purchasing, reclaiming land and discharging old debts. They mortgage 50% of the land. Mortgage Bank commands its capital through deposits and dealing in shares and bonds. The period of loan usually ranges between 15 to 30 years.

Certain factors come into play, including anticipated taxes and insurance as well as a cushion to cover escrow in the event these fees exceed the expectations.

No, one third is in fact less than half. For example, if you had two pizzas and cut one pizza into two equal peices, that would have halves. Then, if you cut the other into three equal peices, you would have thirds. The thirds would be smaller than the halves.

Yes, it would help your credit score.

Yes, you should get auto insurance coverage when you have a car loan, and even when you don't have a car loan. The law requires it either way anytime a motor vehicle is operated on public roads..

The Loan Life Cover Ratio (LLCR) is one of the most commonly used debt metrics in Project Finance. Unlike period-on-period measures such as the Debt Service Cover Ratio (DSCR) it provides an analyst with a measure of the number of times the cashflow over the scheduled life of the loan can repay the outstanding debt balance.

If it was taken out before you were 18, it's your parents. After that, it depends on the kind of student loan, and who signed the papers.

murk

Security for a Loan is nothing but some form of guarantee to the loan issuing bank that a major portion of the loan can be recovered even if the borrower (You or Me) defaults.

Ex: Spouse or a friend or bank deposit receipts or gold jewelery etc. The presence of such security would enhance our loan eligibility.

There is no antonym of mortgage. The opposite of owning a property that is encumbered by a mortgage is owning a property that is free of any debt.

You can no longer amortize goodwill. Instead you annually test it for impairment.

No. The IRS doesn't take your tax refund unless you owe the government money, government insured student loan arrears or child support arrears. It does not collect money on behalf of banks. However, if you deposit your check in your bank account it can be frozen by a creditor and the funds taken.

No, since loans are not income (even if the obligation is cancelled, there is no taxable event as a result).

Also, the interest in personal loans may NOT be written off of taxes (unlike that of first and some second mortgages).

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28,800,000

No way, no how.

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This answer is incorrect. You CAN deduct interest from personal loans in some circumstances. If you're a business owner and take out a personal loan for business expenses, you CAN deduct the interest as a business expense. If you own a rental property and use a credit card to make repairs to the property or take out a personal loan to make improvements, you CAN DEDUCT the interest from your taxes. The IRS has entire chapters devoted to this topic on its web site.

Maybe the confusion is that for tax purposes it is the use of the interest/loan, not if your a Corporation/LLP/Trust/Proprietorship, etc. It is interest for "personal use" that has a problem.

Correcting the above, back to the original: The examples given are NOT personal interest. They are loans made for a business purpose. They are loans taken, or expenses, incurred in the course of making taxable income. (Like interest on the margin account on your stock investments may become deductible).

The only personal interest that may be deductible is on qualifying mortgages for a house.

Interest on a corporate credit card that someone incurred for purchasing say haircuts for their own use, would NOT be deductible.

I am in an urgent situation. Unable to make the payments on the credit card bills.

No, The only way a vehicle can be returned to the dealership if it is explictitly written on the "we owe" paper, and signed by you and the finance manager. There is no 72 hour right of return clause on automobiles where I live. It is definitely a buyer beware market.

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One-third of ANY number is less than half of that number - no matter what number you pick.

interest

can anyone tell me what a escrow coded account is, and if so the terms of such an account in respect of it being dormant for less than 60 days, and whether a fee is charged to re-activate.

The bank will start foreclosure proceedings. They will file a complaint against you in court and seek judgment. The house can then be sold in a sale or auction.

The Primary Mortgage is that relationship that exists between a lender and a potential borrower. on the other hand, the Secondary Mortgage Market is the relationship that exists after the loan is closed and the lender markets the collateral of that loan for sale to an investor.