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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 if your son holds the deed but you hold the mortgage do you have any rights in the house?

No. Not unless your son defaults on the mortgage. In the case of a default you must make certain the mortgage document contained the right to foreclose and if so then you must foreclose on the mortgage in order to get possession of the property. If you did foreclose your son's title to the property would be transferred to you and he would no longer own it.

I own a condo with my boyfriend. I am moving out of the state and my boyfriend will remain in the condo. Can I file a quit claim deed to get my name off the mortgage?

No. The mortgage will need to be paid off and refinanced to free you from the obligation. Do not convey your interest to your boyfriend until he has been approved for a refinancing and make certain your deed is part of that same transaction. You will want indisputable proof the mortgage will be paid off and a new mortgage recorded in your boyfriend's name only. Only then should you sign a deed. The matter should be handled by an attorney who can look after your legal rights.

A mortgage is an iron-clad contract you signed with the bank promising to pay a considerable sum of money it loaned to you. There is no way you can "take your name off the mortgage". If you sign a deed now you will be responsible for paying a mortgage on land you do not own.

How do you find out if the cosigner is on the mortgage in Texas?

Go to your county court house. Give the property address to the clerk. This will tell you who the owners are. If the co-signer isn't listed, their name wouldn't be on the mortgage.

Can banks make car loans to low income persons?

sure but they will charge you higher interest rates and which will be put you in horrible conditions, so i suggest you should go with online sources there are many websites regarding car loans and also they can provide you car loans even with low credit and no credit and also with low interest rates, so try them and you could get your problem resolved.

I lost my job can't pay my car what you need to do?

You need to find another job and pay for itor the bank will confiscate your car.

How does FOMC achieve Fed Fund Rate targets?

Extracted from http://www.federalreserve.gov/generalinfo/faq/faqmpo.htm

The federal funds rate is the rate charged by one depository institution on an overnight sale of immediately available funds (balances at the Federal Reserve) to another depository institution; the rate may vary from depository institution to depository institution and from day to day. The target federal funds rate is set by the Federal Open Market Committee (FOMC). By setting a target federal funds rate and using the tools of monetary policy--open market operations, discount window lending, and reserve requirements--to achieve that target rate, the Federal Reserve and the FOMC seek "to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates," as required by the Federal Reserve Act. At each of its meeting, the FOMC examines a number of indicators of current and prospective economic developments. Then, cognizant that its actions affect economic activity with a lag, it must decide whether to alter its target for the federal funds rate. An actual decline in the rate stimulates economic growth, but an excessively high level of economic activity can cause inflation pressures to build to a point that ultimately undermines the sustainability of an economic expansion. An actual rise in the rate curbs economic growth and helps contain inflation pressures, and thus can promote the sustainability of an economic expansion; too great a rise, however, can retard economic growth too much. The FOMC's actions on the target federal funds rate are undertaken to achieve the maximum rate of economic growth consistent with price stability and moderate long-term interest rates.

Extracted from http://www.frbsf.org/education/activities/drecon/answerxml.cfm?selectedurl=/2006/0604.html

Specifically, to lower the fed funds rate, the Fed will instruct the open market desk in New York to purchase Treasury securities on the open market, which in turn infuses money into the banking system and thus moves the effective federal funds rate or price of those reserves down.

Will Chapter 7 bankruptcy clear you from paying taxes on 1099 second mortgage home?

Huh?

Your question is really hard to understand...but if your asking if you have to pay taxes on the interest shown on the 1099 from your second mortgage co, because you filed BK: THAT IS NEVER INCOME...IT IS ALWAYS AN EXPENSE and in fact, a TAX DEDUCTION...don't claim it if you don't want..but that would be foolish.

Of course not understanding even the basic difference between income and expense, and what is good for you and what isn't, may be why you are a bankrupt!

Can you cancel an auto loan contract within three days?

This would be no, the 3 day receission notice is for mortgages. Actually, the three day right of recession applies to an in home sale with mortgages falling into that category. There are a few states that have a three day recession clause when it comes to the purchase of an automobile. You can go online and check if your state has an automobile recession clause.

What are the Consequences of leaving the country without paying back loan from high street lender?

Well it is very difficult for the lender to chase after a debtor who resides in another country. However, it is possible to pursue a case for fraud. Taking a loan out with no intention of paying back the loan is fraud.

How does a person who makes very good money has a nice down payment get a auto loan when they are in a open chapter 13 we have the trustees permission and do not want to go to a buy here pay here?

you need to find a dealer and a lender that's willing to take a chance on you try a dealer that does a lot of sub-prime credit deals. It may help if you had a auto loan before and that your 13 has nothing to do with an auto lender.

Default on payday loan in Arkansas?

They can place a lien against your assets. Or they can garnish your paycheck, they are going to get their money back.

Why do you have to initial every page of mortgage deed?

Initialling each page means that each page has been verified by you, and prevents the lender from switching the terms.

If you didn't initial each page, they could theoretically (and unethically) insert new items in the contract.

Will making a first payment on a debt after the statute of limitations has run out reset the statute of limitations in New York?

It may not reset the date entirely, but it can affect the SOL. You need to do some research on the internet regarding NY SOL. Or, better yet, contact an attorney knowledgeable about consumer law in that state. SOL is a state law. * Yes, even a token payment will restart the SOL. SOL's begin from the date of last activity on the defaulted account, therefore when if a payment is made it will be considered the DLA on the account.

How do you know if a financial loan company is honest?

you can always tell from what they tell you about your loan transaction though most some few problem do occur in the cause of transfer but its not enough reason to delay your transaction.if you need assistance from some one else, you can contact this lender.Mr.Maurice Tyson via this below e-mail:inquiry.nortonfinanceloans@hotmail.co.uk,. I was offered a loan on the terms of four months and a loan of £62,000.00 for construction contract financing in west London. Ever since then i have been using his company as a financial for any contract i am given.you can contact him if you are interested.

You own a mortgage on a property and as a mother you want your daughter to possess it after your death but you have a husband whose name is not onthe deeds can you add your daughters name onthe deeds?

You can have an attorney draft a deed that will convey your property to yourself and your daughter as joint tenants with the right of survivorship. If you died the full ownership of the property would automatically pass to her with no need of probate. She would be responsible for paying any mortgage on the property. If you live in a community property state that may not be so easy. You should consult with an attorney who can review your situation and explain your options under your state laws. You should do this ASAP.

Can a bankrupt person cosign a loan I have a good credit score but not enough income. My father makes over 100k a year but got over his head with credit cards. Is he still able to cosign my loan?

Anyone the lender accepts can be a cosigner...that is entirely the lenders choice. However, they naturally want someone more qualified, having a higher credit score, than the primary. Your father likely does not.

What is prepay term?

Most often a "prepay term" is the time in which borrowed money can be paid off either without prepayment penalty or accrued interest or both.