Questions tagged [loans]
This tag is a generic tag to be used when asking a question on Loans / lending. If there is a specific question the other related tags like home-loan, student-loans, etc should be used.
1,138
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Lender benefits/perks comparison website or resource?
I was trying to research different lender housing loans in the US. I realize only the true rates and approved amounts would be after meeting with each lender and going through their pre-approval ...
- 1,507
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4
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5/1 ARM: Lifetime cap, First Adjustment Cap, Margin, and Annual Cap?
I am looking over some paperwork for a 5/1 ARM. The loan information is as follows:
Interest Rate: 2.75
Lifetime Cap: 5.00
First Adjustment Cap: 1.00
Annual Cap: 1.00
Margin: 1.75
I understand ...
5
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5
answers
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Where can I get a car loan for roughly $2000?
I'm looking to buy a new car and have found one that I really like. It is priced at $4500 (with taxes). I currently have $2700 in my savings account. I would like to get a loan for $2000 (leaving me ...
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6
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Should I get credit life or credit disability insurance with my auto loan?
Is it worth the extra $10 or so that would be added to a car loan in order to get credit life insurance and credit disability insurance? For a relatively young person looking to get the most out of ...
- 646
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5
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779
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Is it worth paying off my loan early with only 4 payments left?
I only have 4 payments left on my loan and have recently sold an asset so now have enough cash to pay the remaining balance.
Is there any benefit to paying off the loan fully or as I've only got a ...
- 181
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3
answers
357
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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
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4
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How do amortization schedules work and when are they used?
Specifically, I notice that on a mortgage statement, my payment is "amortized" so that at the beginning of the loan, I am paying almost entirely interest and very little principal.
However, on a ...
- 500
12
votes
7
answers
802
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Are Kiva or other microlending institutions a decent way to improve overall yield?
Have you used Kiva.org, Microplace.com or any other microlending institutions? Any positive or negative experiences?
Does this seem like a decent way to improve overall yield, assuming I'm willing ...
- 779
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2
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What is the most efficient way to pay a student loan in the US from the UK?
The loan is in the United States and can only be paid using direct debit from a US bank account which is already established. However, all earnings are in GBP in the UK. What is the most efficient way ...
- 111
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2
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923
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How do I get into the over-the-counter derivatives gravy train
Some philosopher, or banker once said: "If you can't fight them, join them".
After reading Matt Taibbi's last two pieces on Rolling Stone on how banks have obtained certain rights to sell hot air ...
- 233
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5
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Does size of down payment affect chances of home loan approval?
Does the size of my down payment on a house affect the chances I'll be approved for a loan? Can a 50% down payment overcome a relatively low credit score?
- 7,856
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1
answer
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Settlement Loan
I was in a car accident 4 years ago. I had gone to a settlement lender for a small amount after my income benefits were cut off. I guess I missunderstood how the interest was calculated and found ...
L Lewis
7
votes
2
answers
375
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Options for giving an amount greater than the annual gift tax exclusion
Gifting up to $13,000/year (as of 2009) to someone is not subject to gift tax.
http://en.wikipedia.org/wiki/Gift_tax_in_the_United_States
Assuming that the individual receiving the money is older ...
- 815
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5
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3k
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What do you do when a family member won't pay you back?
What do you do when a family member won't pay you back?
user454
10
votes
1
answer
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If I co-sign a loan, does it affect my own ability to borrow due to the debt-to-income ratio?
If I co-sign a loan (e.g. for a friend or family member), does it affect my own ability to borrow money due to the debt-to-income ratio?
user454
10
votes
3
answers
589
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Help: Being charged interest on a loan for which I received no statements telling me of this debt for the past 15 years. Surprise!
Is this legal? This was a private loan within a small business. I was under the assumption that the bill was paid in full 15 years ago. My only drawback is that I never got them to sign to verify the ...
Dan
7
votes
4
answers
579
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Would it be better to borrow money from an elderly relative than from a bank?
Would it be better to borrow money from an elderly relative than from a bank?
user454
23
votes
3
answers
4k
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Paying off student loans early/lump sum -- best practices?
My wife & I have run into a large sum of cash recently and are interested in paying off/paying down our student loans -- about $30k between us, at about 6.5% avg interest.
We're both earning ...
- 233
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votes
1
answer
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What happens if I co-sign a loan and the borrower or debtor dies?
What happens if I co-sign a loan and the borrower or debtor (the person that borrowed the money) dies?
Does the co-signer then assume full liability over the loan, i.e. become the new and sole debtor?...
user454
4
votes
3
answers
473
views
Homeowner's association funding a project in a condo: Bank wants an individual guarantor. What to do?
From time to time my HOA (homeowner's association) needs extra money for a project (eg painting fences, fixing roofs, plumbing repair, etc). They typically respond by raising the monthly HOA dues for ...
- 829
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vote
1
answer
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Rules for FHA loan availability
I'm trying to find the laws on what makes a condo complex available for FHA loans. I hear it has something to do with the amount of money on reserve and the owner/occupancy ratio. Does anyone know ...
- 829
39
votes
10
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Why do governments borrow money instead of printing it?
This question is raised in the movie Money as Debt (at time index 29:00).
The answer that immediately pops to my head is "because printing money causes inflation".
However, according to this movie, ...
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votes
1
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What happens when you make extra payments but don't specify principal reduction?
Lets say your loan payment is $100 a month.
What is the differences between:
making a regular payment for $120
making a regular payment for $100 plus an additional principal reduction payment for $...
- 277
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7
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A loan or a self loan: Is there any reason I should ever take out a loan when I have that money in saving?
Is there any reason I should ever take out a loan when I have that money in saving?
Example: I have 20k in a house fund, and I want to spend 8k to buy a car?
- 7,856
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4
answers
21k
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Co-signing & dying: What if a loan co-signer dies? Is estate of co-signer liable?
A grim and tragic question perhaps, but I'm curious:
What happens when a person that co-signed on a loan dies? Is the co-signer's estate potentially liable until the loan is paid off, the same as if ...
- 31.7k
23
votes
10
answers
27k
views
Someone asks you to co-sign a loan. How to reject & say "no" nicely or politely?
Hypothetical situation:
A dear friend or family member comes to you and asks you to co-sign for their loan. Let's say the reason they need the money is not a life-or-death type of situation. ...
- 31.7k
10
votes
1
answer
836
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If I co-sign on a loan for someone, am I putting up money (is there a cost)?
Does it cost me anything if I co-sign a loan for someone?
- 427
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What are advantages & disadvantages of using a Peer-to-Peer lending site or network?
If I was looking to consolidate some credit card debt and wanted to use a peer to peer lending service, what things do I need to look out for?
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What is the difference between "good debt" vs. "bad debt"?
This other question about home renovations makes reference to the concept of "good debt."
Could somebody explain the concepts of good debt vs. bad debt, providing examples of each?
Are there cases ...
user178
12
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6
answers
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For a major expensive home renovation (e.g. addition, finished basement, or new kitchen) should one pay cash or finance with a loan? Would such a loan be "good" debt?
This other question is similar, but was referring to a specific renovation/repair (new flooring) that, while expensive ($1500), isn't very expensive – it's feasible to consider saving up for ...
- 31.7k
26
votes
7
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Why do people use mortgages, when they could just pay for the house in full?
I would like your recommendation on whether you should buy a house with a mortgage, which you would pay as you go, or should you buy it in full.
Alex
8
votes
2
answers
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Paying off loans early, or is there some way to reduce extortionate interest charges?
I bought a car about 2 years ago on finance. The car was priced at £11k and I was very quick to jump at the chance rather than thinking.
Over the 5 year period I'm paying over £18k in total, thats £...
- 2,034
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5
answers
2k
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Home Renovations are expensive.. Should I only pay cash for them?
Should I save up enough cash to do home renovations, or can I take out a loan? Our house needs a new kitchen floor as the linoleum is actually ripped in some areas, and the wood is exposed... This is ...
- 371
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6
answers
14k
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Saving $1,000+ per month…what should I do with it?
I am able to save $1,100 a month, after all expenses and after paying the minimums ($225 a month on my 2.24% and 3.25% student loans). I want to make smart decisions with my money, but am not sure ...
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Should you co-sign a personal loan for a friend/family member? Why/why not?
I know someone who was recently asked to co-sign a hefty loan by a family member. I don't know what I'd do if I was put in the same position as the one asked. What are the risks? What are things to ...
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votes
2
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I've heard that it's never a good idea to go with payment protection plans offered by credit card companies. Is this true?
I'd like to think my bank isn't trying to swindle me when they call and try to sell me one.
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4
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10k
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Will our hefty student loans affect our chances of getting a mortgage?
My husband and I live simply but we're content. I'm an avid budgeter and love finding ways to be frugal. My dilemma right now is that we've been able to keep our living expenses below what we make, ...
- 2,286
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3
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What are the pitfalls of loaning money to friends or family? Is there a right way to do it?
What are the pitfalls of loaning money to friends or family? Is there a right way to do it?
unknown