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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

Will filing quiet title action eliminate liens and mortgages on a parcel?

A quiet title action can only "quiet" liens or claims that have been made a part of the quiet title action. Usually that type of action involves an old but still active lien or mortgage that was paid but was not discharged as of record. Quiet title actions cover a very broad category and may vary in different state jurisdictions. You should consult with an attorney about your particular case.

If you wish to wipe out unpaid liens and mortgages through a quiet title action forget about it.

If you are buying a house on contract can the seller make you pay 'mortgage Insurance' on top of the mortgage payment?

Yes, It is typical and customary of all mortgages, does not matter who is doing teh financing.

It sounds like the buyer is assuming the seller's mortage. Assuming the buyer has agreed to assume the seller's mortage, if the contract is silent about the mortgage insurance, then it depends if the mortgage insurance is considered part and parcel of the mortgage, or if it is a separate commercial instrument, and thus severable from the mortage.

If you are a cosigner on a vehicle loan and your name is listed on the title as OR then what rights do you have when the primary buyer defaults on payments?

You have the right to pay the loan. When a cosigner enters into a loan agreement he is promising to assume responsibility for the debt should the borrower ever default on the loan. This means simply that if the borrower stops making payments the cosigner will have to take over the payments. You may even be responsible for the full payment of the loan in the event that the borrower dies or is disabled. The cosigner, or in many times, the co-borrower is equally responsible for the debt. The debt will be reflected on the co-signors credit report and may negatively impact the person's credit should the debt become delinquent. If the primary borrower cannot pay the debt, the lender will pursue the co-signor just as equally as the primary borrower. In some cases the lender may only go after the cosigner. If you cosign on a auto loan and the borrower does not make his payments, you will be responsible for making the payments even though you do not have posession of the vehicle. The borrower will be driving around in a vehicle that you are paying for, and it can be a nightmare to extract yourself from this situation. You will not only be responsible for any arrears of the loan; you will also be responsible for any late fees, additional interest, and collection fees.

What if a non notary closed a loan without a notary present but notary witnessed customes but not actually signing what legal ramifications can occur?

The job of the notary is to verify that the person signing a document is who they say they are. Some documents require that the notary see the actual signing and some merely require the notary to verify ID. The legal ramifications of an improper or invalid notarization are that the document can be challenged more easily in court, may be completely invalid without a proper notarization, the notary could be sued/fined/charged for improperly notarizing a document, the transaction may be declared void, and other bad things.

How can you get a SBI home loan application from in India?

SBI Home loan application form is available on the SBI Bank website. Download the SBI Home loan application form directly from the bank's website. One can even fill up the form online itself and furnish all the relevant documents thereafter. After filling up all the relevant columns all one is required to do is click the 'Submit' button and can apply for the home loan online.

How do you get out of default and stop student loan garnishment?

There are only 2 ways to get out of default on your Federally Guaranteed student loans.

  1. Contact your collection company or student loan servicer and request to enter the rehabilitation program. Most people qualify, but I have seen some refused when the default is over 10 years old. In the rehabilitation program, you will need to make 9-12 on-time payments in addition to your garnishment. After the 9-12 on-time payments, they should stop the garnishment, but you will stay in a default status until your Rehabed loans are sold to a new lender. In the past, that was an easy process, but in these turbulent financial times, other lenders are not buying rehabed loans. So, with this option your loans will stay in a Default status for the forseeable future.
  2. The second way you can get out of default and have your garnishment lifted is to consolidate your loans. These days very few Federal lenders will consolidate defaulted loans and your lender will probably not release the loan for consolidation while in a garnishment stage. The good news is, there are a few companies out there that will help you get a garnishment lifted and find a Federal lender to consolidate the loans. One good example is Default Management Services, Inc. They are the cheapest I have seen and give a 100% money back guarantee on their services. You can Google the company name to get the phone #. Ask for Doug.

What rights does the borrower have to a vehicle if it is registered in their name if they borrowed money from a friend to purchase the vehicle?

If the car is in your name, you have all of the rights. If things were to fall through between the two of you, unless you and he have a signed agreement that you'll pay him back, you dont' have to pay him anything. Of course, that would be horrible to do, and he could take you to small claims court to get his money back. * Verbal agreements are legally binding. Only the person who holds title to a vehicle owns the vehicle. It is irrelevant who the vehicle is registered to. If the person has the title he or she can legally repossess the vehicle at any time and sue the borrower for any applicable costs connected to the repossession.

Does anyone deal with the Worldwide Loan Club?

Worldwide Loan Club has developed a unique plan whereby you can borrow money in ever increasing amounts and use the money any way you wish and never pay taxes on the cash flow. You see, the cash flow is a loan, and cash from loans is not taxable! There's not even a credit check, you don't even give your social security number. You pay your one time application processing fee of $100.00 (US dollars) and then refer two other people (your 2 referrals also pay the $100 application fee and your 2 referrals activate your loan account). Once you have done this you are eligible to draw a loan every month in increasing amounts. Currently they use Solid Trust Pay to fund: http://solidtrustpay.com/?r=46322, you may also use your credit card. The first loan is for $50.00 and each month after that you will receive a loan that is double the previous month until the sixth month. The sixth month loan is for $1,600.00 and after that month your loan will grow by 5% each month continually. After you make your 6th month loan payment, your \'take home\' from this point on is around $1400 per loan account. Of course they know some of us need to earn a lot more than $1,400.00 per month so they allow us to have up to five accounts, and you have to refer at least two new people for each account to be activated. If you have 5 loan accounts you will need to refer at least 10 people (2 per account) for all of those loan accounts to be activated. 5 accounts x 1400 = $7000 per month tax-free income... and it grows from there! Should a member desire a refund of their processing fee registration within 30 days of registration, World Wide Loan Club will be glad to return it. This is an incredible opportunity! You owe it to yourself to try it out. Check out the website below http://www.worldwideloanclub.com/index.php?id=4089

What is the average mortgage in Dallas Texas?

Dallas is a very large market with a very diverse inventory of home prices- having said that- the average would be around $ 175,000 in today's market.

After signing a car contract can a dealer say the bank did not approve you?

Yes, the contract only gives the dealer the authorization to seek financing based on the terms of the signed contract. Read it closely to include the fine print. If for some reason the financing falls through the contract usually becomes null and void.

How do you report a paid off car loan if company did not report?

You need to obtain a copy of the letter stating that the loan id paid in full and just show that to them. If they are still telling you that nothing was reported pull a copy of your credit report to be on the safe side. If nothing's on your credit credit and it is still holding you back from getting something else that requires your credit to be checked than contact the Credit agency.

How can you transfer an existing mortgage out of your own name and into the name of an LLC?

You cannot transfer a mortgage since the mortgage is owned by the bank. The bank is unlikely to remove the obligation from you to an LLC. You would need to pay off the existing mortgage, transfer the property to the LLC, and then refinance under the LLC . . . if the bank will allow the transfer of title and new mortgage.

Can you get a car loan with a credit score below 450?

My first reaction would be probably not. But if the score is low because of a " young " credit history you may be able to do so on a first time buyer program through a manufactor with a co-signer and down payment. Assuming what history you have is good. Also you can try a local bank that you or a family member deals with. sometimes they are more willing to help you establish with a smaller loan amount.

If you purchase a rental home on a 1031 exchange is it ever allowed to be owner-occupied without being penalized?

Yes, you can eventuraly live in the home you originally purchased to be used as a rental. The rule is: You can buy the home and derive income from it for as long as you like, even live in it for no more than 2 weeks per year. This is fine for vacation homes purchased for income. You can deduct all costs of the home and the expense of visitation (air travel, auto rental etc.) but you must show a profit (and pay some taxes) in any 2 of the 5 years of ownership for all your decuctions to be allowed by Uncle Sam. When you decide to move into it as your legal residence, you should show a change of ownership (from commercial to residential) so the IRS will know it will no longer be used s a commercial property. You also could transfer the title to a trust, naming yourself as the Trustee, and occupy the home; paying rent to break even. You'll get more details at: www.usefulpublishing.info and through your attorney. Good Luck!

What is the ordinary interest of a loan of 500 at a 7 percent annual interest rate if the loan was made on March 15 and is due May 15?

5.83$

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Solution Method:

1. "ordinary interest" = "simple interest" <-- which is the correct financial term to use.

2. 7% APR interest can be expressed in any increment that you wish, by dividing it by a specific period of time (e.g.: annually rate = .07/1, monthly rate = .07/12, weekly rate = .07/(365/7), daily rate = .07/365

3. In your case, you want to compute the interest for 2 month as follows: (.07/12) * 2 * 500$ = 5.83$ <-- this is the simple interest owed

If you cosigned for a school loan and you and the other person are no longer together how can you get your name off the loan?

Unfortunately when you cosigned the loan you are on it - no matter the outcome. You could check what your options are with the lenders incase they have their own set of rules or/also check with a lawyer.

Your last name is misspelled on the masslandrecord website but it is spelled correctly on the deed mortgage etc. What should you do?

If the name is spelled correctly in the documents and the error was made by the Registry of Deeds when they entered the information into the records you should bring the error to their attention and insist it be corrected. If you received the originals back then take them to the Registry so the name spelling can be checked. When the Registry makes an error indexing recorded instruments that can cause serious problems when those documents are not able to be "picked up" under the spelling of the grantor's name. The error can be corrected in the computer.

If the error was made by the entity that drafted the documents then a scrivener's affidavit should be recorded or, if the error is serious enough, corrective documents should be recorded.

How do you get financed for a car loan if you are paid via tips such as a waiter?

When you are filling out a credit application there will a place to enter additional income (usually says alimony, child support, etc) or something like that. Enter your tips there to show the added income.

Buying a motorcycle that the owner still has a loan on how can you be sure you get the title?

Don't pay him until the title is in your hands. Also, make sure your bill of sale mentions that YOU don't get the loan, and that it is still his responsibility.