Loans

You can legally loan your car to a friend, if you own it, but be prepared to pay for any damages done to or by your friend, because your insurance won't and they might cancel your policy. You must inform your insurance carrier if other persons will be driving your car.

You still are an economic entity, and so may not be able to reclaim the home. On a personal level, it may be best to just let the house go and move on.

Up to six months.

what does it mean when the mortgage company says they must read the underlying of the mortgage?

I do not quit understand what that means.

When you get a personal loan, you have the advantage of being able to use the money you borrow for any purpose, such as debt consolidation to consolidate debt or travel costs. It all comes down to your individual needs.

When anyone files a foreclosure all of the lien holders having liens on the property are named as parties to the lawsuit. Technically, they are named as defendants and required to assert the claim of their lien or lose it. They assert the claim by entering the action, then filing a cross claim in the lawsuit stating their claim against the property and the person or company that owes them the money. If a lien holder fails to assert its claim, it will lose its lien rights and potentially its contract rights.

If the original plaintiff, in your scenario, the mortgage holder does not name a lien holder, the foreclosure will go forward without that party, but the rights of that party will be preserved as the property will be sold subject to that lien, which usually result in that lien being in first place when it is sold/bought. If all of the parties were named, as is usually the case and they have stated their claim, the lawsuit will proceed. All parties that have proved that they are owed money and that they have a valid lien will proceed to the foreclosure sale.

Assuming that all lien holders were named, when the property is sold, it will be sold free and clear of all liens. The key to your question is, "how much did the property sell for relative to the amount of the liens?" Once administrative fees and court costs are paid, the liens are paid in the order of their priority, the most senior first, until they are completely paid, then the next one in priority, until there is no money left. Any remaining liens will be removed from the property without compensation.

I am an attorney in Cleveland, Ohio. This is the law of the State of Ohio which is a common style of the law, so it is likely the law in your state. To be certain you should talk with an attorney licensed in your state. The specifics of your case or the law of your State may change the answer. Please consult your attorney for an accurate answer.

yes - when you co-sign, you are guaranteeing the bank that they will be paid

no...the note goes back with the bank...your credit is ruined for five years

The advantages of personal secured loans are that they usually offer low interest rates, your credit history is not as crucial, employment may be optional, the value of the loan can be higher and good credit can increase the amount of loans you can take.

syndication of loan is arranged by a lead arrangers and it is on common terms which is finalised between borrower and arranger where as in consortium loan borrower has to arrange the finance himself from different bank this finance on different term and at different pricing

Loan Syndication and Consortium finance is resorted to when a client needs a huge loan which a single Bank either cannot provide or cannot take risk to provide.

In Loan Syndication, a large bank approaches the client, fixes up the terms and conditions, interest rates etc. Thereafter, he approaches other Banks for "selling" of this loan. The other banks ,if agree, "purchase" a part of the loan on the same or different terms and conditions. In Loan Syndication, the client deals with one Bank only.

In Consortium Finance, a Large Bank approaches the client, collects the information about amount of loan, terms and conditions and then calls a meeting of other Banks. Those who agree to lend the money approach the client and the client fixes up the loan with each of them separately. The follow-up and other jobs is done by the Leading Bank of the consortium which is mutually decided by the participating Banks.(Need not be the highest lender).

Did you have a title exam done when you purchased it? Check with your attorney that did the Deed and/or closing. If you paid cash and did your own deed then shame...shame. The seller gave you a Deed to the property..right? Did it say it was free of liens and mtgs? or did it say "subject" to liens of record?... You may need a good attorney. That's why deeds, mortgages and liens are "public records" you should have checked yourself if you did not use an attorney.

30%

Prohibition ;)

Most lenders will allow you to continue to make the payments as the loan is. Some may modify the loan. As long as you can continue the payments, you will be ok.

ARM an adjustable rate mortage

Generally, a reverse mortgage is based on owned equity in the real property.

Your state or other locale laws and your bank can answer your particular question more precisely, depending on the location of the co-op and your relationship to owned equity in the property.

How long a credit report is valid depends on the lender, but almost all of them are allow the report to be 90 or 120 days old.

Loan or debt which have been delinquent and subsequently written off are classified as Gross Chargeoffs. however in certain cases, partial recoveries may be made at a later date. The net charge off is the gross Chargeoff minus the recoveries.

They are incorporated in Delaware. Their mailing address is in Flint, MI.

Updated 09/22/2011 -------------

Although Mortgage Electronic Registration Systems Inc (a.k.a. MERS) is a Delaware corporation, their corporate offices are located at 1818 Library Street, Suite 300, Reston, VA 20190.

If you need to serve them with legal documents their Registered Agent is Sharon McGann-Horstkamp, MERS Vice President and general Counsel, and her office is located at the same address.

There's a great web site that gives you all kinds of information about serving legal documents on MERS, including MERS hours of operation, mistakes that others have made in their legal documents, and the cost and turnaround time for service of process. The web address is www.weservemers.com.

The bank MAY be pursuaded to consider it if the car has enough value. However, you should be asking yourself why you would place your car at risk for someone who cannot otherwise obtain a loan. Can you afford the risk of losing your car. You would need to sign your car over to the bank. If the borrower defaulted the bank would take your car.

If you are a lender or note holder and have lost the original promissory you can lose your right to gain timely control over the property in a foreclosure situation. The original note is the only document that can establish the terms, conditions and the note holder in due course. Without being able to establish these the courts are at a loss as to who has what rights. In some cases you can write up and record a replacement promissory note assuming the payer is cooperative.

You need Business Loan or Government Grants for starting small business.

This answer should be broken up into 2 parts. The first part addresses bad credit personal loans. Credit.com has a trusted site that focuses on finding individuals personal loans with bad credit.

The second part of this answer addresses bad credit business loans. Finding a business loan with bad credit is much easier for a business than an individual. Private lenders today like ShieldFunding.com offer business loans with bad credit and small business owners get approved based mostly on the strength of company revenues.

I have been trying to get a new home loan with a repo showing and so far I have found no lenders that will take the loan. From what I have been told by about 15 lenders, is that as long as the repo is showing on my credit I will not be able to get a home loan. They said even if my score was 700 pts the banks just will not approve ANY home mortgage with a repo on credit. On another note- my repo became a "repo" after the vehicle was completely totalled in an accident and was supposed to be paid off by my insurance and the remainder by GAP insurance, but my financial company (CITI) never let my insurance company do the assessment of damages to the vehicle before they auctioned it, hence no insurance check was cut - Even though this "repo" is totally uncalled for and actually illegal (right to due process violation) mortgage companies still don't care. Not even with the documents I have proving the financial company is in the wrong and there should be no "repo" showing on my credit. If you find a way to get a mortgage with a repo please post it here, cause it seems like if you're in this situation it is totally hopeless. (Unless of course you pay the repo off :( ) Addition: From what I've been reading on this topic, it would be best to go through a mortgage broker who will act as a professional representatitve (of sorts) on your behalf to the lenders. The fact that these guys do this day in and day out also helps as they probably have relationships with lenders that they can leverage.

the co-signer

A 203K streamline loan is a loan provided to the purchaser of a home to do some renovations and or improvements to a home they are purchasing with cost ranging from $5,000 to $35,000. That is why it is called a 203K streamlined loan. A FHA 203K loan is for a total rehabilitation of a home that is in need of major repairs and renovations and is not in livable conditions. Some purchasers get these two types of loans confused. There is a myth going on around the 203k Streamline loan that a consultant may not be needed. That is true up to $15,000, if the work comes to more than $15,000 a consultant will be brought in to complete a 'plan review' and insure that other required items are added to the work write up.