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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
Why is the interest on these payday loans so high?
Payday loans were designed to give people with bad credit a loan. Not all payday lenders are unscrupulous, but many are. In general, payday lenders rely on you not being able to pay them back very quickly. They make more money that way. It can be a repetitive and often destructive cycle. For example, on a $300.00 loan, you may be required to pay back $390.00. They will gladly allow you to just pay them $90.00 every two weeks, not even touching the balance. This is where people get in trouble. I would advise against a payday loan unless there is no other way to get the money, and you know for sure that you will be able to pay the full amount back on payday.
How do you find homes without mortgages?
most homes have mortgages
so if you want to find homes without mortgages you'll just have to tell the realtor if they can lower it for you
Does credit count for a 203b loan?
Yes, a good credit score (credit history) is required to be approved for an FHA 203(b) loan.
If the payday lender is licensed then the loans that they provide are legitimate. The state of licensure defines the pricing that the payday lender is allowed to use.
Respectable payday lenders get individual licenses in each state and follow each state's payday lending laws.
Less respectable (legitimate, but ethically challenged) payday lenders get licensed in a state where pricing is exportable (e.g., Delaware) and use the exported state pricing (generally higher than that of state-specific pricing).
Unrespectable (truly illegitimate) payday lenders do not obtain licensing at all and charge whatever they feel like. They get away with such actions because they are generally located outside of the US.
Can mortgage arrears be put in chapter 7?
No, that can only occur in a chapter 13. If you filed a chapter 7, a lender would be able to get relief from stay (i.e. would still be able to foreclose on you)
Can a loan company take money out of your bank account without permission?
No. No one can access your account without your permission. Some payday lenders will keep trying, even after you tell them not to. In that case, you should let your bank know what's going on and close your account. You can open up a new one that they don't have access to. I would assume that at one time you told them they could take payments out of your account, but if you tell them to stop then they are obligated to do so.
How long does a loan process take?
Answer-
Most finance company tell within 1 to 3 business days that loan has approved or not. The total process takes around two week from submission of loan request form.
How do you record loan proceeds using cash basis acctg Debit Cash and Credit what?
If cash is received from debtors then accounts receivable will be credited otherwise to whom it is received will be credited.
What are the riquirements to apply for a small loan?
Qualifying for small loans is easy and you only need to meet a few requirements - that may not be as impossible as you might think!
1. You must be a valid U.S. resident.
2. You must be an adult - 18 years of age or older.
3. You must have a job and earn a monthly salary.
- the lender will not perform a credit check therefore, if you have bad credit, you can still qualify for small loans
4. You must have a valid checking account - for the lender to deposit your loan
How to create a Mortgage-backed security?
Let us take into consideration the following entities that would be used during the explanation.
Bank 'B' - The Bank that is issuing mortgage loans
Customer 'C' - The person who has taken the mortgage loan from the bank
Agency 'A' - The Agency that is going to create the MBS
Investor 'I' - The person who is going to purchase the MBS
Customer 'C' approaches Bank 'B' with the request to issue a mortgage loan of Rs. 1,00,000/-. After all the scrutinizing process 'B' decides to grant a loan of Rs. 1,00,000/- to 'C'.
Agency 'A' buys the mortgage loan that was granted to 'C' at the rate of say Rs. 90,000/- and then packages it into a bunch of securities each with a face value of say Rs. 100/- each. Which means 'A' would be creating 1000 units of the MBS. These MBS units would be available for sale in the open securities market for investors to buy. Our Investor 'I' decides to buy these MBS units. He makes a payment of Rs. 1,00,000/- to 'A' and purchases the units. In many cases 'A' may opt to retain a portion of these units based on the loan mixture to generate revenue for itself.
'B' can now use this Rs. 90,000/- for granting fresh loans to other customers.
This is how a typical MBS gets created and sold in the open market.
How get a loan with a bank with bad credit?
The only way one with bad credit get a loan from a bank is to use a co-signer who has a stronger credit profile.
What does a bank require to advance a loan?
While financial organizations use different (usually proprietary) criteria to underwrite loans, in general, financial institutions are looking for the following five Cs when advancing a loan to someone:
* CAPACITY (how will the loan get repaid; what is one's capacity to repay the loan)
* CAPITAL (how much are you personally invested already to warrant a loan; for consumers, capital is equivalent to a down-payment)
* COLLATERAL (what guarantees are in place to protect the bank from your non-payment; a house is the collateral for a mortgage)
* CONDITIONS (where are you at when you ask for the loan and where is the general economy at when you request a loan)
* CHARACTER (subjective decision as to whether you will pay back a loan, sometimes based on references, sometimes based on a conversation)
How does one find out if they are responsible for a student loan?
The US Department of Education's National Student Loan Data System (NSLDS) can help current and ex-students find out (1) if they have a student loan and (2) what the terms of the loan are. The system may be accessed at:
www.nslds.ed.gov
For private loans, check your credit report.
How does one get a payday loan?
Payday lenders are quite similar in the process that borrowers undertake in order to get a loan. The generic process is summarized as follows:
(physical store)
* Provide identity, employment and checking information to store associate
* With the basic information, the company will try to approve the loan
* (if not approved) Provide copies of paystubs to store associate
* Once approved, you will find out how much the organization will lend you
* Write a postdated check to Check Into Cash for the amount being lent (dated for your next payday)
* Check Into Cash will give you the amount less the "origination" fees associated (generally $7 to $25 per $100 lent)
* In between now and payday, you may go back to Check Into Cash and extend the loan by paying "extention" fees (same as the origination fees)
* When you finally reach payday, after all extentions, Check Into Cash will cash your check
(Internet/online/kiosk)
* Enter identity, employment and checking information into web form
* With the basic information, the company will try to approve the loan
* (if not approved) fax pay stubs to the company
* If approved, you will be asked to authorize your checking account for electronic payments (in and out) of the account
* Check Into Cash will deposit the money into your account (less origination fees) the next business day
* In between now and payday, you may go back to the website and extend your loan, whereby the extention fees will be debited from your account
* When you finally reach payday, after all extentions, Check Into Cash will debit your account for the original loan amount
No you must transfer the title to your name. Contact your local DMV for more info.
Can I stop paying my mortgage to the current bank if my loan documents can't be found?
You haven't provided enough information and it's not that simple. You would be taking a serious risk since if the bank handed money over to you it can get a court order that recreates the mortgage. Also, the mortgage may have been recorded in the land records. Also, the mortgage may be found at some later date and you would be in serious financial difficulty if you defaulted on the loan.
You need to consult with an attorney.
The amount of times you apply doesn't mean anything to the underwriter of the modification. He/She is looking for three things:
1) That you cannot pay your mortgage at the current rate according to your financial review
2) That you WOULD BE ABLE to pay ALL expenses if your mortgage payment was modified.
3) The reason you can no longer afford the house is due to an economic hardship (you've had a cut in pay, unemployed, etc)
Can you get a remodify mortgage after bankruptcy?
If the lender agrees, of course you can remodify, but you cannot force the lender to modify the terms.
Can you quitclaim a house if there is a loan on the house?
Yes. You are relinquishing any "right" you may have to that particular property.
Can you do a reverse mortgage on a townhome?
You can, if the town home is in an approved FHA complex it makes it much easier. If it is not then you have to apply for a spot approval which is asking for an exception to the requirement that the HOA or complex be FHA approved based on the merits of your particular property.
What is address for BAC home loans servicing lp fort worth tx?
Bac Home Loans Servicing Lp, Isaoa Atima, PO Box 961206, Fort Worth, TX 76161-0206
