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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

What does amortizing mean?

To amortize means to wipe out a debt gradually or in instalments, or, more generally, to permanently alienate.

Can you use home equity to purchase another home?

Possibly. If you have enough equity in your current home to do a "Cash-Out Refinance" or "Home Equity Loan" to pay the total cost of the new home, then the answer is yes.

However, you cannot use the current equity in your home for a down payment on the new home. These loans used to exist (they were called "Bridge Loans"), but I am not aware of any lenders that offer Bridge Loans at this time.

Can someone else take out a loan on a car for you?

This is called a 'straw' purchase. It does happen in the industry, but the banks do not allow it.

Why would a bank give an auto loan without requiring a lien?

This would not be considered an auto loan by the lender. This would be considered a 'signature' loan. If you have good enough credit and a good relationship with your bank, they will loan you money without collateral.

How do you fill the nsfas loan agreement?

You should ask the Financial Aid Officer at your university or College. They have been trained to assist you in completing the application forms.

If they can't help you, please contact the NSFAS call centre at tel. (021) 763 3232 or email us at info@nsfas.org.za and they will give you further information.

Can a mortgage company legally refuse to accept a good-faith payment on a delinquent account due to disability?

The bank can refuse a payment if it is not enough to pay the past due amount. In this case, you may need to contact your bank about payment options.

Can I get a payday loan if my SSI payments are direct deposited?

Check with your lender. But in general - yes.

Be aware of predatory lenders and predatory lending practices.

Half of a third?

A half of one third is one sixth.

1/2 of 1/3 is 1/2 x 1/3 = (1x1)/(2x3)=1/6

Can a home equity loan be used for a downpayment on another home?

A home equity loan is a type of loan in which the borrower uses the equity in their home as collateral. There is no restriction on how we can use the money from Home Equity Loan.

How does debt consolidation affect getting a mortgage?

Well,

You need to be sure that it is Debt Consolidation program that you have or are planning to enroll into.

Debt Consolidation does not hurt your credit scores much, so you can get a refinance, provided you qualify on the criterion of the lender.

If, you are opting for Debt Settlement, then be rest assured that your credit scores will take a huge dip. That would definitely cause you problems getting a refinance.

Check this article I have added, explains about the difference between both. Debt Settlement VS Debt Consolidation LoanMany mortgage companies will tell you that a consolidation loan is a great idea to pay off debt. Here this option is examined in more detail and compared with the debt settlement option.

When you get a consolidation loan several things happen. First the equity in your home gets "cashed out" meaning the homeowner now owes that much more on their home than they did before. It is that much more than before because of closing costs and other fees that get rolled into the loan. The homeowner would typically have an additional debt to pay (second mortgage) or at least have a significantly higher monthly payment than he did before. This may be cost effective depending on what rates of interest were being changed on the debts and is being charged on the mortgage. If the numbers work really well then in some cases debt consolidation can be a good thing................................

If you default on a personal loan what can happen?

The lender will begin collection proceedings against you. Being a personal loan, if like most it is secured only by your signature, likely as not the lender will go legal as quickly as possible so as to secure the debt with a judgment and allow for greater variety in collections. If the loan is secured by property, count on it being repossessed.

I defaulted on my student loan but wish to go back to school now. I still owe most of the original loan amount. Do I have to repay the loan before taking out another one for school?

You do not have to pay off all of the original loan to get more loan money, but you must get back into good standing with your lender (or the federal government--whoever holds the loan now). Look yourself up on the National Student Loan Data System (www.nslds.ed.gov) to look yourself up and get contact information about who holds your loan. Contact them and find out what you need to do to get back into good standing. Many times lenders will not put you into good standing until you've made at least 12 on time payments--but find out what your lender requires.

Generally until you are back in good standing, you're not eligible for any federal financial aid, including loans.

How do you pay a loan without paying the interest?

You can't! There are plenty of scams out there who says "buy my book or CD and I will teach you how" but they are scams. Ultimately, I guess you could, if the lender and/or collections agent agree but this will usually show up on your fico report and it will hurt your score. You may find it more helpful to call the lender and ask for an interest rate cut, and if they do, you will be better off. Remember, lenders aren't in the business to lend money for free, because they themselves are paying interest on the money lended. PS Depending on the type of loan and your tax profile, you may be able to write off the interest on that loan. Consult your tax preparer for more help in that area... Good luck!

When you are asking the mortgage company to help you with payment options by modifying your home loan why don't they reduce the amount of the loan now that homes have depreciated?

I called our mortgage company to see if I could lower payments on a four plex that we own. I wanted more cash flow and things are tight right now. I bought it on an arms program so consequently the payment goes up as I only pay the minimum payment. When I called the mortage company, they told me that the only option I had was to do a short sale or to sell the property for less that it is worth. So all this talk I hear on the news is not true, they don't help you. They don't go down in payments nor do they lower interest. What kind of help is that? Homes now are at their lowest but they don't let up. Government loans is no help either. I don't want a loan, I want to get out of this. Can anyone help? I hate getting up every morning and thinking that I am working just for them. Every penny. Sometimes I think they can take their 4 plex back and I really don't care about my credit, after this who wants to ever buy anything.

What is cash credit loan?

I suppose that is another name for cash advance payday loans which are are a financial alternative to traditional bank loans. It was never easier to take a cash loan, because the application form is really quick and simple. There's no need to fax the application, because all the process processed online. The most important thing you need is a valid checking account, because the requested funds will be transferred directly to it. And just another few requirements:

- your age must be at least 18 years old

- you should have a steady monthly income

- and, of course, you must be a legal US citizen

What if you have a bad credit history? Well, it doesn't matter, because payday loans online are provided with no credit check. In such way, cash advance lenders perform your current employment status and stable income as the main guarantees of your creditability.

How do you write a letter to stop pmi?

To,

The Manager NBD Bank

Sub: Stop Payment of Takafful

Dear sie,

I am custemar of NBD Bank a

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