Loans

The son is not responsible for the loan of his mother.

Yes, but contact your mortgage company and make the arrangements. Lenders always prefer making arrangements rather than going into foreclosure because they lose money on every house foreclosed on.

I can't speak directly to your wife's situation. However, many professional service firms admit new partners through an "internal loan" whereby a portion of the new partner's share of the profits are "withheld" (i.e. paid to the other partners) until the internal loan is paid in full or for a specified number of years.

A mortgage is a type of loan used to purchase or maintain a home, land, or other types of real estate.

• JLM Property

A repossession ruins your credit for 7 years. This will have an adverse effect on any loan you may try to obtain.

Could you rephrase your question? If you mean a 15 year loan program, then this depends on the lender you are applying with.

Once a person is deceased all debt is completely erased from that person's credit. If they own a home and do not have a will nor a co-signer of the home loan the government will take over the ownership of that home. If they have credit card debt, the debt is forgiven and no longer in existense.

Sure. Just let the bank know where you're moving to and keep up the payments or they'll default the loan and repo the vehicle. (Repossess) That'll cause you serious credit problems and loss of vehicle that you still have to pay for. The bank will track the vehicle by the VIN (Vehicle Identification Number) and you'll end up with more headaches then the car is worth.

Non amortization is a type of loan where you only make payments on the interest. The lump sum is then paid off as a whole later.

You have to get the bank of financial institution to release the other person from the contract. In order to do that you must both contact them, and the insitution will decide if you have the nessessary assets and credit rating to have to loan only in your name.

310.5%

Payday loan companies cannot issue a bad check to any county in Texas. The District Attorney's office considers them to be a line of credit. The collection agency will try to scare you into believing that! Payday loan companies cannot issue a bad check to any county in Texas. The District Attorney's office considers them to be a line of credit. The collection agency will try to scare you into believing that!

Yes. When a balloon loan comes due, the lendee of the loan must pay the remainder in full. However this is done is up to the lendee. They can refinance the amount with the another bank, or the same bank if it is willing.

Some balloon loans come with a provision that the balloon may be extended at the end of the balloon period (ie. the bank holding the loan will extend/re-enact it using current interest rates).

A forgivable loan is a monetary incentive used in the securities business to lure a financial advisor from one firm to another. For example, a securities company gives you a loan of $100,000 - forgivable in four years in equal amount of $25,000 - if you move your book of business to them. You are taxed on the imputed interest each year on the forgiven $25,000. At the end of four years your loan is completely forgiven by the firm.

This will depend on the lender and your past payment history. Some will start a lot sooner than others. In my area they start moving typically after a 60 day late. Almost all of them are started by 90 days late.

Ya u can surly get loan. There are lots of companies which provide student loans. Even if u don't have cosigner u can still avail loan at low rates. I just found a site which specially provides students low interest car loans.

Certainly timeshares can be financed; the companies which sell them do it all the time.

On the other hand, finding a lending institution, such as a bank, or some other lending institutition to finance the timeshare is sort of like trying to find a bank to finance a piece of real estate on the Moon.

Timeshares are profoundly illiquid.

Purchasing a timeshare interst is easy; selling it is much more difficult. Getting some company other than the company which originally sold it to the buyer to finance the purchase is really difficult. (Obviously, the paper can be transfered to another company which basically collectes for the probable original vendor.)

There are rare cases where timeshares are being financed. Usually, owners look for lending institutions to financed their timeshares.

Yes, it can be financed. Some owners go to banks if they have a good credit history.

You can pay off your mortgage faster by paying extra to the principal typically through making extra payments or paying extra each month.

For example, a $200,000 mortgage at 5% for 30 years, paying $200 extra per month reduces the number of monthly payments by 104, or 8.67 years, and reduces the interest and total paid by $61,160.51.

On the same loan, paying $300 extra per month reduces the number of monthly payments by 135, or 11.25 years, and reduces the interest and total paid by $78,258.26.

A significant reduction in both interest paid and length of the mortgage.

Wow. I have no idea why you would want to do this unless you're trying to avoid foreclosure. However, if the value of the property isn't worth what you owe on your first and you also have a second why would you not want to just get out of this property. If you are asking can you borrow money from your Equity Line (which it sounds like there is no way you should have been given in the first place given that you have NO equity in the property...hence secondary mortgage market collapse) then sure you can strike a check from that account and pay it towards your first or second, but you're still just transferring your own debt from one place to another...

An origination fee is a payment associated with the establishment of a new loan. This fee is paid to the bank (or perhaps the broker) that provides the loan or services associated with taking out a loan.

Unused loan loss reserves represent an overestimation of the bad loans on the books. Ultimately, the unused loan loss reserves would be taken into income

Simply, as soon as someone will agree to give it to you.

With todays heightened credit requirements, a recent foreclosure is a major turnoff.

That it normally occurs along with additional and continuing credit payment problems, makes it worse.

You would likely need a substantial downpayment at least, and expect to pay a high interest rate. And of course, the more verifyable and steady income you have, the better.

But how long and how much the previous foreclosure will effect you is each lenders decision. Some, will never grant you a loan again.