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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

Can you avail for multi purpose loan even if you still have unpaid calamity loan?

A multi purpose loan is not able to be availed for if a calamity loan is unpaid. The loanist be paid off before another loan can be availed for.

What does a negative credit balance mean on home loan statement?

Excess of repayment over scheduled or expected repayment. For eg. the expected balance in a HL account on a given date is 10,000/-, the actual account balance should have been 8,000/- as per the repayments made, the excess repayment of 2,000/- is negative credit balance or unadjusted repayment.

What is micro credit system?

A little amount of loan given by any bank or organization to the poorest people without any collateral.

When h r block Christmas loan 2010?

December 6th or 7th depending on where you live. You will need your most recent pay stub as well as the last stub from any other jobs from 2010. You will also need the same for your spouse if you have one... Loan amounts will be $300-$1000

What is the difference between making a regular payment to a loan or applying a payment to only principal?

Generally, an unscheduled loan has interest compounded at the end of a time period (in most cases a month, sometimes a week.) When you make a loan payment, you are generally paying both accrued interest and principal debt. When you pay only to the principal, you are paying back the original amount without interest.

This is done by people in order to reduce future interest payments.

What happens with the mortgage insurance when a person dies?

Assuming that the mortgage insurance policy was in force at the time of death, and all other conditions of coverage have been met, the insurer should pay off the balance of the mortgage; that is the purpose of insurance of that type.

Thereafter, the property will pass, free of the encumbrance, to that person who may have been named as a co-owner of the property. If the decedent is shown to have been the sole owner of the property as of the time of death, it will pass according to terms of his/her Will; if there was no Will, it will normally pass according to the laws of descent and distribution of the locality in which the decedent lived at the time of his/her death, or where the property is located.

What happens to second mortgage if first mortgage is foreclosed?

If the first mortgage is foreclosed the second mortgage lien gets wiped off the property by the foreclosure so the property can be sold free and clear of the second mortgage. However, the mortgagor still owes the debt to the lender and the lender can pursue collection of the amount due by a civil lawsuit.

Can you have 2 mortgage loans through same mortgage company?

Yes.

Your mortgage company may hold your first (or primary) mortgage as well as a second which may be represented as a home equity loan or a home equity line of credit.

Can you get a payday loan at another payday loan place if you have a cash advance payday loan out right now?

Yes it is possible to attain a payday loan from another payday lender if you already have a cash advance payday loan. Since the loan is for a temporary period, it is not an issue if you have another loan.

Also, there are no credit checks and so the process of attaining such kind of a loan is easy and hassle-free

What is a sub-prime and Alt-A loan?

A sub-prime loan is a type of loan that is offered to those individuals that have poor credit histories and/or have a relatively high risk of default. Sub-prime loans tend to be costlier in terms of closing costs, fees and APRs than traditional (prime) loans.

An Alt-A loan is a type of loan that is offered to those that don't qualify for prime loans, but who have a better risk profile than those in the sub-prime category. Alt-A loans are costlier than prime loans in terms of fees and APRs, however, they are not as costly as sub-prime loans.

How do you spell principle and interest?

The correct spelling is principal and interest. The principal is normally the amount borrowed, which is reduced by paying any amount exceeding the interest.

Can you go into foreclosure if you default on your second mortgage?

Yes.

Your second mortgage is secured by your home, so if you default on payments, the lender has the right to foreclose.

How to get loan for purchase of land?

Real Estate in India has been moving at a brisk rate. The reason for the expansion is not just confined to the population balloon inflating and getting bigger with each second, but also due to the easy finance options or Home loans from banks and other financial bodies. With the MNCs establishing their offices in India, the employment opportunities have become multi fold for skilled professionals thus increasing the spend capacity of the people. India becoming a favorite destination for outsourcing, the multifaceted employees of such organizations rely on Home loans to purchase their dream home. Investment is yet another reason why Home loans are becoming popular. Thus taking a Home loan is like killing two birds with one stone-you own a residential property and also save on tax.

Can a payday loan company press criminal charges against you if you did not close your bank account?

No, only a prosecutor of the court may bring a criminal case against anyone.

Criminal charges are brought as a result of illegal behavior, not defaulting on a loan. If the default, however, is subsequently believed to be related to fraud, criminal charges may be brought by a prosecutor.

A payday loan company will use EFT to debit your bank account for the amount that is owed on the loan. When they cannot debit the account, they will try multiple times over subsequent days, then they will begin collection processes.

Why is your credit history so important?

One's credit history is very important because the history provides an insight into how an individual, in both the past and right now, handled (handles) credit.

As a result, over 80% of the decision made by a financial institution regarding a consumer loan is based purely on your historical (and current) use of credit.

What happens if you don't pay an online payday loan?

Generally, the payday lender will conduct collection processes in order to receive their money. Some lenders will sell the debt to a third-party collector and some will do the collection themselves.

Depending on the situation (and the amount of money involved), the lender may sue you in order to get a judgment to pay them.

If this is the first time that you have not paid a payday loan, you will likely get harassed for a while, but they will be unlikely to come after you.

If this is the second time that you have not paid a payday loan and you are working with the same company, they will most certainly come after you for the money.

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