Loans

A mortgage is a loan that is secured by real property.

borrower dies then it is not suitable that amount recovered from gaunter because of person taking guaranty of live person nor death

I'm not sure what a "new law auto title loan" is, but basically, if you are using your car as collateral for a loan, yes they can take it if you fail to make payments on time. This should be pretty explicitly spelled out in the paperwork.

YES AND NO. depend how it affects your LTV and liens. As long Loan to Value is less than 80% does not matter who financed your house you can get the HELOC to the amount of 80% LTV. Some times it may change by the lenders internal policies.

Also how the lien on your title is affected by private loan and if there is any condition that may affect your additional borrowing. Check the documents before you apply for the HELOC.

Best bet contact the local small banks. They do not charge any fee for the HELOC. You do not need an agent for it.

A bank will want full coverage.

It is a state law to carry comprehensive insurance ( collision ) on any vehicle with a lien.

We're smart, but we don't have crystal balls. Nobody knows.

They can, HOWEVER, they normally don't. They will keep it. If, however, it goes unsold for a significant period of time (normally 2-3 years, sometimes more), and racks up town fees and listing fees, the bank will sometimes give the house back to the original owner. You would be stuck with all those fees, any damage done, (I.E. Graffiti, vandalism, etc.) and so on, though.

no...

30 is the "term" in years of the mortgage. You will have a schedule of monthly payments that you will pay over the 30 year term. Most of the upfront payments will go to pay the interest on the loan. For more examples of amortization (payment tables) visit the Mortgage Calculator in the related links.

yes they do, there is an Internet hoax based on the fact some government employees get a part, up to 60k , paid for but no elected official or their family members are eligible. Check with Snopes, Breakthechain.org etc.

That depends on several additional pieces of information you didn't include in your answer, notably interest rate and length of the loan.

As an example, a 30000 mortgage at 4% for 15 years would have a monthly payment of $221.91.

Please provide the additional details on your loan terms for a more accurate answer.

They are not automatically forgiven their student loans, if that's what you're asking. The word "loan" implies that it's supposed to be paid back.

Some children of congressmen might default on their loans, but they're on the whole not treated (at least in theory) any different than anyone else.

Obtaining a new loan to pay off an old loan using the funds from the new loan. Any time you take old money owed and pay it off with new money owed you have refinanced.

The buyer at a foreclosure sale pays to the bank the amount they bid at the sale. The foreclosure process nullifies the outstanding (or foreclosed) mortgage as it affects the property. However, a buyer at a foreclosure sale should have the title examined by a professional in order to disclose any other liens and encumbrances that affected the property prior to the recording of the mortgage that was foreclosed. A person who plans to bid at a foreclosure sale should always work closely with an attorney.

Lenders require steady income with a history that can be documented and a future that can be reasonably assumed. So a non-working retired person with a pension sufficient to meet the income requirements may qualify. A person who was terminated from work and has no income will not qualify. Someone who has unemployment benefits will not qualify, because both the history (usually 2 years) and reliable future are not there.

The lender owns the mortgage and a lender will not generally remove any name from the obligation to pay. The only way for you to get your daughter's name off the debt is to pay the loan off and refinance in your own name.

You need to consult with an attorney who specializes in business law.

you dont

Collateral

I know that it is a way for people who have built equity in their home when it is paid off to get money for living expenses etc. Like for elderly people with medical bills etc. If they have no other income and need the money. It is like taking out another mortgage again, because then the home isn't really paid off any more. When they decide to sell the home, money will be owed on it again.

Deeds of Trust (mortgages) have a position on title based on seniority (1st, 2nd, 3rd). So if a new 1st mortgage wants to go into first position in a refinance transaction but there is already a 2nd mortgage, they must ask the 2nd mortgage to allow them to go ahead of them on title. The 2nd mortgage lender will review the proposed loan, and either approve or deny the request. This is most common when a borrower wants to retain the terms of the 2nd mortgage or they do not have enough equity to borrow a sufficient amount in the new loan to pay off the 2nd mortgage.

The principle that the electric charge of an object must be part of a divisible basic axiom.

No. It is a common tactic amongst unscrupulous payday lenders to make threats that they cannot enforce, and in fact, it is illegal for them to make such threats. They are well known for threatening arrest and impersonating law enforcement during collections. Often, these payday lenders are not even located inside the US. Any lender should be licensed in your state. Chances are, internet payday lenders are not licensed at all, which makes their loans unenforceable. Even if a lender is legitimate, and you default, you cannot be charged with a crime for simply failing to pay. They may try to tell you that you have violated some wire-fraud or bad-check crime, but you have not. If your state allows payday lending, then they may possibly sue you in civil court for default, just like any other lender.

Presuming that you're talking about lending terms and conditions, collateral is important for several reasons. First of all, it proves to the lender that you are of good faith and truly believe that you have the both the capacity AND the willingness to repay the debt. You may be able to "talk" a smooth game and convince the lender why you're a good credit risk, but collateral is putting your money where your mouth is, so to speak. It's a trade-off wherein the bank will front you the cash in exchange for pledging an asset of a certain value. It ensures that you, as the borrower, have skin in the game. It provides leverage to the bank if your financial situation gets rough to ensure that you don't walk away from your promise to pay.

Furthermore, conventional banks require collateral because they are fiduciaries of their depositor's money and they operate on very thin profit margins. Banking at its core is taking depositors' checking accounts, savings accounts, and certificates of deposit, and lending that money back out to borrowers. To ensure the safety of those depositor's money, banks require collateral to minimize the risk of principal loss in the event that a loan goes bad. Also, core banking (paying interest to depositors and collecting loan interest from borrowers) has a very thin margin. Typically this is about a 4% margin. So, it is very important that banks are conservative with their lending standards (ie requiring adequate collateral) because losses from only a few bad loans can very quickly eat away their profit margin and start to threaten the safety of their depositor's funds.

These reasons are also why loans with collateral typically bear much better interest rates. Unsecured loans, or loans without collateral, typically have much higher interest rates. For example, credit cards are a form of unsecured loans. They can average anywhere from Prime +5% to Prime + 15% (8.25% to 18.25% as of present date), depending on your credit history and income.

If you deposit your money with a bank, you should expect and hope that they have adequate collateral guidelines in place for borrowing money. Otherwise, you could be one day waiting to get your money back from FDIC insurance proceeds after the bank fails.

You can refinance the line with a fixed rate loan, or negotiate with the lender to freeze your credit line and fix the rate. They may or may not grant this request.