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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 is the highest interest rate allowed by CA law?
California, as well as 26 other states have no limitation on interest rates, user fees, late penalties, etc for credit cards. Arkansas is the only state with very strict usury statutes.Federal usury laws are of little help, as the only stipulation is for the credit card companies to inform customers of their rates and fees. There has been a bill "stuck" in legislation to place a 17% cap on interest rates, it is doubtful it will ever become law.
Difference between pari passu and hypothecation?
Hypothecation is a kind of non-possessory security interest created normally in favour of a lender for securing the obligation of the person who has availed any financial assistance from the Bank. If the borrower creates security interest on the same set of property in favour of more lenders, the security interest of the lenders shall rank according to the chronological order in which it is created, unless the lenders otherwise agree. If the value of the security is sufficient to cover all obligations of the borrower to many lenders, the lenders may agree inter-se (usually at the request of the Borrower) that the security interest of all the lenders shall have the same ranking or priority. Then such security is called pari passu ranking security interest.
The Department of Housing and Urban Development (HUD) provides direct loans for the construction or rehabilitation of housing projects for the elderly or handicapped through its Section 202 Supportive Housing for the Elderly and Section 811 Supportive Housing for Persons with Disabilities programs. These programs aim to provide safe and affordable housing options for low-income elderly and disabled individuals.
Can a person at age 77 get a personal loan from Scotia Bank?
It is possible for a person at age 77 to qualify for a personal loan from Scotia Bank, as eligibility criteria can vary. Factors such as credit history, income, and debt-to-income ratio will be taken into consideration during the loan application process. It is recommended to contact Scotia Bank directly to inquire about specific requirements for personal loans.
What is the need and reach of financial aid in the world?
Development aid to Third world countries since their independence in the Sixties totals some six thousand billion dollars, only counting "official" aid: State-to-State plus aid by supranational organizations such as Unesco. Africa has been the largest recipient by far of that aid.
Development aid in countless forms by all private organizations worldwide cannot even be computed with certainty, but a conservative estimate would add at least a thousand billiondollars extra to that total over the last fifty years.
Since as early as the Sixties economists have argued that pumping these enormous amounts into little-developed economies like that of Africa would only lead to large-scale mismanagement of funds, corruption and a dependency on outside help that would over time become a state of mind within the Third World States. They argued that aid would for those reasons become totally counterproductive to those countries for building a healthy economy by their own efforts - a bit like expecting a teenager to study hard and take on summer jobs while giving him a 5,000 dollar monthly allowance.
Many others have argued that we need to keep on giving money to make up for our earlier colonization and slavery activities - even if the colonization almost nowhere lasted for more than 60 to 100 years and even though most African slaves throughout history were kept by other Africans, uncomfortable as that truth may be.
Regardless of the many arguments that can be and have been brought forward why we should - or should not - give and continue to give financial aid, the fact of the matter is that on the one side most African countries are still heavily dependent on aid despite the amounts already recieved; and that a country like China, having been trampled over by occupying forces and local dictators for most of the 20th century, and dirt-poor no more than 30 years ago now has developed itself without hardly any development aid at all.
Given the fact that most first-world nations continue their aid programs practically unchanged and that most nations receiving aid are happy to continue as before, it can be expected that the present levels of development aid - about 200 billion per year in official and unofficial aid - will continue for years to come.
Does AARP offer a reverse mortgage to seniors?
Yes, AARP does, in fact, offer a reverse mortgage to seniors. You must be atleast 62 years of age and own your home to get a reverse mortgage with AARP as well as most other places that offer them.
Is reverse mortgage only for seniors?
Yes, according to the US Department of Housing and Urban Development's website, the Federal Housing Administration requires that you must be 62 years old or older and a homeowner to apply for a reverse mortgage. These types of mortgages are only available for seniors.
Can a family and care giver take over the home that had a reverse mortgage?
Typically, when the borrower on a reverse mortgage passes away, the family or heir can choose to sell the home, purchase it for the amount owed on the reverse mortgage, or walk away from the property. If they wish to keep the home, they will need to repay the reverse mortgage loan in full. However, it's important to consult with a legal professional or financial advisor for guidance on the specific circumstances of the situation.
Can a guardian for a senior take out a reverse mortgage loan?
Yes. The process is fairly straight forward and involves petitioning the court to apply for a reverse mortgage. Once approval is received, then guardian (s) need rem counseling and can make application with a lender. The final numbers (prior to closing) will be approved by court.
Are student loans forgivinen at age 65?
If you signed a federally-backed loan that is administered by the US Department of Education and therefore made directly by a government agency, the loan is automatically forgiven if/when: you become disabled, you turn 65, upon your death.
If you have a loan with and through a private lender, those general guidelines do not apply.
John Adams refused to pay the bribe and loan, viewing it as an attempt at bribery by the French agents. He reported the incident to Congress, leading to the XYZ Affair and escalating tensions between the United States and France.
Yes, the person who inherited the house can choose to obtain a reverse mortgage on the property, provided they meet the age requirement of being over 62 years old. They would need to go through the normal process for obtaining a reverse mortgage, including meeting with a HUD-approved counselor and receiving the necessary financial counseling.
Grandma died and she has a reverse mortgage what happens next?
Her estate will have 6 months to sell the home or refinance it. If there is negative equity in the home the estate will have the option to turn the home over to the lender without any further recourse, provided this is a FHA HECM reverse mortgage.
Yes - unfortunately when you cosign a loan - you cosigned a loan and if the owner defaults you are still responsible no matter how old you are. You could check with the lenders but wait until they contact you.
Can interest on loan be capitalised?
Yes, interest on a loan can be capitalized, meaning that it is added to the principal amount of the loan. This can occur during periods of deferment, when the borrower is not required to make payments on the loan, or during certain stages of a construction project.
What is capitalized lease obligations?
Capitalized lease obligations refer to lease agreements where the lessee records the leased asset as a capital lease on their financial statements. This means the lessee treats the leased asset as if it were purchased with a loan, and includes the lease payments as both an asset and a liability on their balance sheet.
What is recording information for a Satisfaction of mortgage?
Recording information consists of the following data:
1) Recording date: day the mortgage is recorded in the county office.
2) Reference : Book # and Page # (the place where the recording information has been captured in the county records.
Sometime instead of book and page # we can also receive a instrument #
Is western sky loan company legitimate?
Do a search on that company and add the word complaints, or FTC...you will see a lot of information that will probably make you run the other way. This company makes you more in debt than help you out.
Which personal loan is best in india?
Determining the "best" personal loan in India depends on individual financial needs and eligibility. Several factors influence the choice, including interest rates, loan amounts, repayment terms, and eligibility criteria. To find the best personal loan:
Compare Interest Rates: Look for lenders offering competitive interest rates based on your creditworthiness. Lower interest rates mean lower overall borrowing costs.
Check Loan Amounts: Choose a lender that offers loan amounts that meet your financial requirements. Some lenders may have higher or lower maximum loan limits.
Repayment Terms: Consider the repayment tenure. Longer tenures can result in smaller monthly installments but potentially higher total interest paid. Shorter tenures may have higher EMIs but lower overall interest costs.
Fees and Charges: Review the lender's fees, including processing fees, prepayment charges, and late payment penalties. Opt for lenders with transparent fee structures.
Eligibility Criteria: Ensure you meet the lender's eligibility criteria, including age, income, and credit score requirements. Meeting these criteria improves the likelihood of loan approval.
Customer Service: Assess the lender's customer service and responsiveness to inquiries or concerns.
Online Access: Consider lenders offering convenient online application and account management options.
Reputation and Reviews: Research customer reviews and the lender's reputation to gauge customer satisfaction and reliability.
Loan Purpose: Some lenders specialize in specific types of personal loans, such as medical loans or travel loans. Choose a loan that suits your specific needs.
Prepayment Options: Check if the lender allows for early loan repayment without imposing hefty penalties.
Popular banks and financial institutions like State Bank of India (SBI), HDFC Bank, ICICI Bank, and Axis Bank offer personal loans in India. However, smaller banks and online lenders may also provide competitive loan options. To find the best personal loan, compare offers from multiple lenders, considering your financial situation and goals.
Is a home equity loan considered an unsecured loan?
No, a home equity loan is actually considered a secured loan. This is because it is backed by the equity in your home, which serves as collateral for the loan.
This means that if you were unable to repay the loan, the lender could potentially foreclose on your home to recoup their losses.
In contrast, an unsecured loan does not require any collateral and is based solely on the borrower's creditworthiness.
It's always important to fully understand the terms and conditions of any loan you are considering, so be sure to do your research and consult with a financial advisor if needed.
Your mother is not a legal party to the loan in any way whatsoever. You or the borrower would have to be disabled.
Which is the best place to take a home loan?
It's a good idea to compare offers from multiple lenders, including banks, credit unions, and online lenders, to find the best home loan rates and terms that suit your financial situation. Consider factors like interest rates, loan terms, fees, and customer service before selecting a lender.
Where will you find the poem in which Ogden Nash rhymes mortgage with dowgage?
"Please Pass The Biscuit" (The New Yorker, September 19, 1942, p. 24) can be found on page 174 of The Best of Ogden Nash, edited by Linell Nash Smith. Publisher: Ivan R. Dee, Publisher (November 16, 2007) ISBN-10: 1566637031 ISBN-13:978-1566637039 Poem ends: "She's as much a part of this house as the mortgage; Spangle, I wish you a ripe old dortgage"
