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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
How can you get financial aid at UC Irvine?
To get any type of financial aid you need to complete a FASA application before UC Irvine's deadline. From the information UC Irvine gets from the FASA application the school will be able to figure out what type of financial aide will be available for you at UC Irvine.
Call gemb phone to get info on account?
(My husband has had tons of problems with GEMB!! We were trying to get ahold of them with the number below and the number was not functional. We found 1-866-396-8254 on a 6 year old statement that got us through. Thank you guys for your inputs.)
I saw this name on my husband's bank statement and did a search for it. Apparently, it's not easy to get hold of them, as it's probably a scam, according to most sites I visited. This "bank", GE Money Bank, provides financing for loans to a number of businesses, such as Home Depot and WalMart. In my husband's case, it was a loan to get glasses at LensCrafters. Though he already paid the loan, they keep charging him hundreds more! THEY call to "collect" and when he tries to explain, they simply tell him he's "wrong". They SAY they'll take legal action but never do. A legitimate debtor would actually do it, not just keep threatening.
According to the forum at http://www.gardenweb.com, GEMB is a scam, and has bilked thousands of people out of money.
One poster wrote: "Just wanted to post this for everyone's info. If you have any accounts through GEMB then please pull your credit report and check them carefully!!! My husband had several accounts through this company in the form of home depot, lowes, and care credit. We received a bill from home depot 2 days ago and there was a fraudulent charge of 3200 on it".
Others claimed (in defense of GEMB) that it must be employees stealing information on accounts and stealing identity, but even so, GEMB is still liable, or should be. And it would mean that their security is terrible!
One answerer at Yahoo Answers gave this information, though I'm not sure it's still correct:
"its G E money bank. i believe they do a bunch of department stores. as well as other things. heres a phone # and e-mail:
+1-866-239-4362
gecfcustomerservice@ge.com"
If you are being overcharged, the best way to protect yourself and recoup losses is to contact your state's Consumer Protection Division, usually through the State Attorney General's Office, who will then let the D.A.'s office deal with them! It's worked for me before and I highly recommend it, if negotiating alone doesn't work.
How do Pay Loan companies charge over 500 percent interest legally and why don't usury laws apply?
Usury laws don't typically apply to payday lenders because the state specifically regulates payday loans. Since usury laws are at the state level, the payday lending laws override the state usury laws.
Most payday lenders charge what is known as an application or origination fee when issuing a loan and the term is clearly defined. For most states, the regulations provide for between $7 and $25 per $100 in principal (borrowed).
The average payday loan lasts for about three weeks, so we will use 21 days (of 365 actual days) as the basis for annualization.
At $7 (7% of principal), the annualized interest rate would be approximately 122% (simple interest method).
At $25 (25% of principal), the annualized interest rate would be approximately 435% (simple interest method).
So, "good" payday loan companies (read: those that are licensed) do not charge APRs of 500%.
When a person rolls over a loan, the contracts are set up so that the "extension" is actually a new loan, allowing the payday loan company to charge another application/origination fee (these are labeled renewal origination fees). In this circumstance, the annualized APRs are the same.
If your first mortgage is in the process of foreclosure that foreclosure will extinguish the second mortgage as to the real estate. The foreclosure of the first mortgage terminates all subsequent interests in the real estate. After the foreclosure the real estate can be sold free and clear of any subsequent mortgages or liens. However, the debtor remains responsible for the second mortgage debt.
Any remaining proceeds from the foreclosure sale after the first mortgage is satisfied are paid toward the second mortgage. In some states the second mortgagee can seek a "deficiency judgment" in court against the debtor. However, even when possible it's not often done due to the costs and the slim probability the debtor will have the ability to pay.
You should check your state laws.
If she has put any money towards the car payments no you can't. If you are just cosigners and you're footing the bill you most certainly can take her name off it. If she refuses to abide by your wishes after you take her name off then you can classify your vehicle stolen by her. It sounds like you have good reasons for doing this, so I would even let her drive the car at all. If she gets into an accident then you will solely be responsible for that accident and your car insurance will go up. In order to have the vehicle re-titled into your name only, she would have to go with you to the DMV and sign off of the title. As far as the finance contract, you can speak with the lender and see if they can take her off of the loan, but that has nothing to do with the title.
How many states were there in 1900?
Utah became the 45th US State in 1896 and the number of states remained unchanged until Oklahoma became a state on 16 November 1907.
Are payday loans unsecured nonpriority claims?
Yes, in a general way of classification. The non priority claim would only apply in bankruptcy or probate matters, not in a civil suit brought by the lender for a debt owed.
Should a married couple put both names on an auto loan?
no because if something happens then it happens to both of you.
How do you file for the Wage Earner plan?
For a Chapter 13 Wage Earner bankruptcy, you'll need a stable income with disposable income (income left over after you pay the bare necessities of life such as shelter, food and utilities). You must have no more than $922,975 in secured debt (debt involving property that your creditor might take if you don't make your payments) and $307,675 in unsecured debt. These amounts are adjusted periodically to reflect changes in the consumer price index. The court filing fee is $274. Following are the steps in the Chapter 13 Wage Earner Bankruptcy process: The process begins similarly to a Chapter 7 bankruptcy proceeding, with the filing of a petition by the debtor in the federal Bankruptcy Court. In addition to a list of creditors and a schedule of assets and liabilities and a schedule of current income and current expenditures, the debtor must also file a "Statement of Financial Affairs".
courtsey:
http://www.debtgonow.com/moreinfo.html
http://bankruptcy.lawyers.com/Chapter-13-Wage-Earner-Bankruptcy-Basics.html
Housing and Urban Development
* Unless you have a contract of sorts stating this was a loan and a date, the amount of the loan and this person's signature along with your signature on it you can't prove this is a loan and not a gift as it would hearsay only. Without the contract, sorry but you are out the money.
Can you transfer real estate by will without paying off mortgage?
Any other person who may inherit the property would inherit it subject to the mortgage. If the mortgage is not paid the bank can take possession of the property by foreclosure.
The person who owned the property at the time of the mortgage signed their rights in the property over to the bank when they signed the note and mortgage. Depending on your state laws the bank either owns the property or has a lien on it until the debt is paid. The bank will not release its interest until it's paid in full.
Can you get a loan out on your car?
Improve
You must know that it is legal obligation to pay off a car loan. To get out of a car loan, make regular payments. If doing so is becoming difficult for you, then you can sell your car and pay off your loan. Here, there would be problem if you have upside down loan.
If you higher monthly payments are making things difficult for you, you can refinance your car.
The house would have been left subject to the loan. Either the estate has to pay off the loan or sell the house. Once that is done, then the assets can be distributed. One of the children could obtain a loan and buy the house from the estate.
What is a financial responsibility filing?
Financial responsibility filing is most often related to cars and insurance. It is something that a state will require, usually from the DMV, in order to certify that someone who is driving a vehicle will be able to pay future claims depending upon the states required limit.
What do you need to become a loan officer?
Loan officer positions generally require a bachelor's degree in finance, economics, or a related field. Banking, lending, or sales experience is highly valued by employers. Most employers also prefer applicants who are familiar with computers and their applications in banking. Loan officers without college degrees usually advance to their positions from other jobs in an organization after acquiring several years of work experience in various other occupations, such as teller or customer service representative. Personal qualities such as sales ability, good interpersonal and communication skills, and a strong desire to succeed also are important qualities for loan officers.
There are currently no specific licensing requirements for loan officers working in banks or credit unions. Training and licensing requirements for loan officers who work in mortgage banks or brokerages vary by State.
Various banking-related associations and private schools offer courses and programs for students interested in lending, as well as for experienced loan officers who want to keep their skills current. For example, the Bank Administration Institute, an affiliate of the American Banker's Association, offers the Loan Review Certificate Program for persons who review and approve loans. This program enhances the quality of reviews and improves the early detection of deteriorating loans, thereby contributing to the safety and soundness of the loan portfolio. The Certified Mortgage Banker (CMB) designation demonstrates the holder's superior knowledge, understanding, and competency in real estate finance. The Mortgage Bankers Association offers three CMB designations: residential, commerce, and master's. To obtain the CMB, the candidate must have 3 years of experience, earn educational credits, and pass an exam. Completion of these courses and programs generally enhances one's employment and advancement opportunities.
Persons planning a career as a loan officer should be capable of developing effective working relationships with others, confident in their abilities, and highly motivated. For public relations purposes, loan officers must be willing to attend community events as representatives of their employer.
Capable loan officers may advance to larger branches of the firm or to managerial positions, while less capable workers-and those having weak academic preparation-could be assigned to smaller branches and might find promotion difficult without obtaining training to upgrade their skills. Advancement beyond a loan officer position usually includes supervising other loan officers and clerical staff.
For the source and more detailed information concerning this subject, click on the related links section indicated below.
What can a lender do when the second mortgage is not paid in full due to foreclosure?
Assuming that the FIRST mortgage was foreclosed, a foreclosure wipes out any mortgages that were recorded after the foreclosed mortgage.
If you own a property that is paid in full how can you add your son to the deed?
A title company can help you add his name to the title. However, you should note that this gives him the right to sell the home in some states, and if this gives you qualms, consult a real estate lawyer so that your interests and right to live in the home are secure.
In the state of Florida how many witnesses are required on a deed?
The quick answer to this seeming problematic area of real property recordings in Florida is that only deeds that convey property need to be witnessed by 2 subscribing witnesses. (F.S.A. 689.01)
Mortgages do not convey property, so witnesses are not required. Both deeds and mortgages, or any document concerning real property to be recorded in Florida, must conform to the recording statute. (F.S.A. 695.03)
The statutes are provided below for your reference.
Florida Statutes Chapter 689.01 How real estate conveyed.--
No estate or interest of freehold, or for a term of more than 1 year, or any uncertain interest of, in or out of any messuages, lands, tenements or hereditaments shall be created, made, granted, transferred or released in any other manner than by instrument in writing, signed in the presence of two subscribing witnesses by the party creating, making, granting, conveying, transferring or releasing such estate, interest, or term of more than 1 year, or by the party's agent thereunto lawfully authorized, unless by will and testament, or other testamentary appointment, duly made according to law; and no estate or interest, either of freehold, or of term of more than 1 year, or any uncertain interest of, in, to or out of any messuages, lands, tenements or hereditaments, shall be assigned or surrendered unless it be by instrument signed in the presence of two subscribing witnesses by the party so assigning or surrendering, or by the party's agent thereunto lawfully authorized, or by the act and operation of law.
Florida Statutes Chapter 695.03 Acknowledgment and proof; validation of certain acknowledgments; legalization or authentication before foreign officials.--
To entitle any instrument concerning real property to be recorded, the execution must be acknowledged by the party executing it, proved by a subscribing witness to it, or legalized or authenticated by a civil-law notary or notary public who affixes her or his official seal, before the officers and in the form and manner following:
(1) WITHIN THIS STATE.--An acknowledgment or proof made within this state may be made before a judge, clerk, or deputy clerk of any court; a United States commissioner or magistrate; or a notary public or civil-law notary of this state, and the certificate of acknowledgment or proof must be under the seal of the court or officer, as the case may be. All affidavits and acknowledgments heretofore made or taken in this manner are hereby validated.
(2) WITHOUT THIS STATE BUT WITHIN THE UNITED STATES.--An acknowledgment or proof made out of this state but within the United States may be made before a civil-law notary of this state or a commissioner of deeds appointed by the Governor of this state; a judge or clerk of any court of the United States or of any state, territory, or district; a United States commissioner or magistrate; or a notary public, justice of the peace, master in chancery, or registrar or recorder of deeds of any state, territory, or district having a seal, and the certificate of acknowledgment or proof must be under the seal of the court or officer, as the case may be. If the acknowledgment or proof is made before a notary public who does not affix a seal, it is sufficient for the notary public to type, print, or write by hand on the instrument, "I am a Notary Public of the State of (state) , and my commission expires on (date) ."
I hope this answers your questions.
What is a cross collateral lien?
A cross collateral lien is a loan where one piece of collateral secures more than one loan. An example would be a car that is paid off being collateral on 2 separate personal, cash loans.
The situation you describe is not the norm. Check the land records. You should find your deed, mortgage and the mortgage discharge. It is doubtful you were able to mortgage land you didn't own. The bank would be unable to foreclose in the case of default. If no discharge has been recorded the call the lender and request that one be sent to you immediately and then record it.
On the other hand, if you live in a state that uses deeds of trust for mortgages then call the lender that sent the letter and paid note and ask them to help you.
