All Questions
46
questions
36
votes
7
answers
3k
views
How does a bank lend your money while you have constant access to it?
How do banks / fintechs lend your money while you have constant access to it, ie. can withdraw at any moment? I assume there is some kind of liquidation pool, but how exactly is that managed with ...
- 477
24
votes
1
answer
6k
views
Paying off home mortgage and lender wants a "Recording Fee"
So I whittled down my house note to the point where I have enough cash to just pay it off early and be done with it. Yay!
I asked my lender for a "payoff" statement, which provides an accounting of ...
- 53.1k
20
votes
2
answers
9k
views
How do Islamic Banking give loans for housing purposes?
Islamic banks do not give loans they invest in financial activities of their clients. Am I correct?
If yes, then how can they provide loans for housings? Home loans have nothing to do with business.
...
user5800
14
votes
3
answers
88k
views
Co-signed a loan and I need to have my name removed
I co-signed on a car loan with my partner, and now that we are no longer together I want to have my name removed. He has had the car a year now and has been on his job over an year, but he won't do ...
- 141
10
votes
2
answers
6k
views
Money sent to loan account after it has been paid off and closed
For the last few months I have been paying off a loan via automatic payments from my current account that transfer over automatically each month. The loan got paid off and the bank closed the account. ...
- 215
9
votes
2
answers
3k
views
Are demand and time deposit accounts really loans _to_ the bank?
Borrowers pay interest to borrowees any time they take out a loan.
The Government even pays interest when you "buy" it's notes and bonds.
Banks, too, pay interest to deposit holders. Does ...
- 50.7k
5
votes
2
answers
3k
views
Why the calculated cost of a loan is less than expected? Is the bank working at a loss?
Let's say I want to borrow $1000 from a bank at an interest rate of 12% per year, for one year. The number of payments in this case is equal to 12 (one year * months per year) and the interest rate ...
- 169
5
votes
5
answers
1k
views
Where can I borrow money for investing?
Where can I borrow money in the US if I have a good credit (730+)? I have heard community unions a good place to borrow money..but the lowest they could get is 12 percent. Can I borrow from a ...
- 67
5
votes
1
answer
2k
views
What happens if you don't pay the credit card or personal loan amount, and then leave the country?
My friend went to India without paying his credit card balances of around $150K. Now he is unable to pay due to losses in business. What kind of actions can happen from credit card companies and/or ...
- 51
5
votes
1
answer
4k
views
How does the bank/IRS know whether a bank transfer over $14k is a gift or loan repayment?
Suppose I want to help a relative, an international student, pay his college tuition before he arrives in the US (let's say the amount is $20k, i.e., over the $14k tax-exempt limit for gifts). He'll ...
- 183
5
votes
1
answer
183
views
How to tell if you can trust a loan company?
What do you look for? Good UI design? BBB accreditation? Yelp, NYTimes mentions?
What should I expect of the customer service when making my decision to take out a loan?
What information should I ...
- 565
4
votes
3
answers
688
views
Can banks deny that you've paid your loan?
As expressed in the title, can a bank deny it that you've paid back the loan? Or how can you make sure that won't happen?
My sister recently got married, but she freaked out when her husband told her ...
- 159
4
votes
2
answers
12k
views
Is this "approved" online loan a scam? I was asked for my user name and password
I'm pretty sure what the answer is, but I don't want my desperation to cloud my judgment.
I was approved for a loan after giving my bank account and routing info. They requested to verify the account ...
4
votes
1
answer
219
views
Can banks charge a lower interest rate for loans than for their fixed term savings account and still make profit?
A friend of mine got a loan of 1,000,000 at an interest rate of 10.6% per year for three years and then deposited that 1 million at 3-year fixed-term non-accessible savings account with a return ...
3
votes
3
answers
357
views
What actions can I take against a bank for lack of customer service?
I currently have a mortgage with a bank.
Two months ago, they had an offer to fix our home loan interest rate for a year. We accepted this offer, we signed a document and they signed it too.
In ...
- 6,080