What Loan company will take over my federal student loans when the loans are in default?
Q. What Loan company will take over my federal student loans when the loans are in default so I can go back to school? My loans are government loans from Saillie Mae. I owe them under $5000. I heard about this company that will take over your school loans from them but I don't know the name of the company. I am at the point where I can't get a federal student loan until I pay this off.
Asked by Dat_1_Chiq - Tue Aug 26 09:58:19 2008 - - 2 Answers - 2 Comments
A. When your federal educational loans are in default, you have several options: You can repay the loan in full. You can negotiate a new payment plan with your lender. You can "rehabilitate" your loan. You can consolidate your loan. Obviously option one is rarely attractive or possible for defaulted borrowers. Option two (renegotiate) should be investigated fully - most borrowers skip this step, but it's probably the best option for most people. Call your lender and ask to speak to someone in the "Workout" Department. Explain your situation to them (there's nothing unusual about it) and ask what options are available to you for switching to a graduated, extended or income-sensitive repayment plan. If your lender will agree to change your… [cont.]
Answered by NotAnyoneYouKnow - Tue Aug 26 11:15:17 2008
Q. What Loan company will take over my federal student loans when the loans are in default so I can go back to school? My loans are government loans from Saillie Mae. I owe them under $5000. I heard about this company that will take over your school loans from them but I don't know the name of the company. I am at the point where I can't get a federal student loan until I pay this off.
Asked by Dat_1_Chiq - Tue Aug 26 09:58:19 2008 - - 2 Answers - 2 Comments
A. When your federal educational loans are in default, you have several options: You can repay the loan in full. You can negotiate a new payment plan with your lender. You can "rehabilitate" your loan. You can consolidate your loan. Obviously option one is rarely attractive or possible for defaulted borrowers. Option two (renegotiate) should be investigated fully - most borrowers skip this step, but it's probably the best option for most people. Call your lender and ask to speak to someone in the "Workout" Department. Explain your situation to them (there's nothing unusual about it) and ask what options are available to you for switching to a graduated, extended or income-sensitive repayment plan. If your lender will agree to change your… [cont.]
Answered by NotAnyoneYouKnow - Tue Aug 26 11:15:17 2008
What Loan company will take over my federal student loans when the loans are in forbearance?
Q. What Loan company will take over my federal student loans when the loans are in forbearance so I can go back to school? My loans are government loans from Saillie Mae. I owe them under $5000. I heard about this company that will take over your school loans from them but I don't know the name of the company.
Asked by Dat_1_Chiq - Tue Aug 26 09:53:30 2008 - - 1 Answers - 3 Comments
A. No one will "take over" your loans. You will still owe the money to your lender when you are in forbearance. They will simply add interest every month while you are making payments. If you are asking about defaulting the lender will just contract out with a collection agency to start calling and hounding you to mail them payments. If you make 6 to 12 months worth of willing and reasonable payments you can ask your lender to "rehabilitate" your loan. This is when you are issued a new loan and pay off the one in default so you can get federal fin aid again. Again, rehabilitation can only be done after you have made 6 to 12 months of payments.
Answered by Found-1 - Tue Aug 26 11:31:31 2008
Q. What Loan company will take over my federal student loans when the loans are in forbearance so I can go back to school? My loans are government loans from Saillie Mae. I owe them under $5000. I heard about this company that will take over your school loans from them but I don't know the name of the company.
Asked by Dat_1_Chiq - Tue Aug 26 09:53:30 2008 - - 1 Answers - 3 Comments
A. No one will "take over" your loans. You will still owe the money to your lender when you are in forbearance. They will simply add interest every month while you are making payments. If you are asking about defaulting the lender will just contract out with a collection agency to start calling and hounding you to mail them payments. If you make 6 to 12 months worth of willing and reasonable payments you can ask your lender to "rehabilitate" your loan. This is when you are issued a new loan and pay off the one in default so you can get federal fin aid again. Again, rehabilitation can only be done after you have made 6 to 12 months of payments.
Answered by Found-1 - Tue Aug 26 11:31:31 2008
Is student loan still tax deductable when refinancing a student loan with a personal loan?
Q. My daughter has two very high interest student loans. Her credit won't let her do anything, but I can "refinance" it with me getting the loan using my credit. But is it still a "student" loan that she can deduct. She is making the payments and her name will be also on the loan (ironically, she will co-sign for me). This seems to be some gray area once the loan gets moved around. Just want to make sure the "chain of custody" still makes the new loan interest tax deductable. Hope this made sense and thanks for your help.
Asked by Andrew M - Tue Sep 4 17:08:56 2007 - - 2 Answers - 1 Comments
A. Nope, sorry, but personal loan won't qualify, as you will have nothing in writing to say that it is student loan interest.
Answered by PepsiLime - Tue Sep 4 17:33:54 2007
Q. My daughter has two very high interest student loans. Her credit won't let her do anything, but I can "refinance" it with me getting the loan using my credit. But is it still a "student" loan that she can deduct. She is making the payments and her name will be also on the loan (ironically, she will co-sign for me). This seems to be some gray area once the loan gets moved around. Just want to make sure the "chain of custody" still makes the new loan interest tax deductable. Hope this made sense and thanks for your help.
Asked by Andrew M - Tue Sep 4 17:08:56 2007 - - 2 Answers - 1 Comments
A. Nope, sorry, but personal loan won't qualify, as you will have nothing in writing to say that it is student loan interest.
Answered by PepsiLime - Tue Sep 4 17:33:54 2007
Can I take out a home loan for land and a manufactured loan?
Q. By home loan I mean a home loan and not a personal property loan like on a trailer home/manufactured home in a trailer court. I qualified for a home loan and I want to keep it cheap, so I want to purchase a piece of land and a manufactured home. Wil this work as a home loan if its on private land? Wow, there is quite the array of scams out there! Why would anyone take out a loan from the internet without talking to someone face to face?
Asked by Jak K - Tue May 8 16:09:07 2007 - - 0 Answers - 4 Comments
A. To have a mortgage loan you must have land involved, so no trailer park rentals. Lender's are not fond of mobile homes because they lose value - unlike a stick-built home which will appreciate in value. You are unlikely to find 100% financing for a mobile home. 90% or less is the norm and that is with good credit. Your interest rate will be higher as well. If you are buying this as an investment (in your own future-not as an investment property) you should look into a modular home. Anything but a mobile. You won't get out what you put into a mobile. That said, there are some very nice mobile homes out there.
Answered by thinking-guru - Tue May 8 16:37:29 2007
Q. By home loan I mean a home loan and not a personal property loan like on a trailer home/manufactured home in a trailer court. I qualified for a home loan and I want to keep it cheap, so I want to purchase a piece of land and a manufactured home. Wil this work as a home loan if its on private land? Wow, there is quite the array of scams out there! Why would anyone take out a loan from the internet without talking to someone face to face?
Asked by Jak K - Tue May 8 16:09:07 2007 - - 0 Answers - 4 Comments
A. To have a mortgage loan you must have land involved, so no trailer park rentals. Lender's are not fond of mobile homes because they lose value - unlike a stick-built home which will appreciate in value. You are unlikely to find 100% financing for a mobile home. 90% or less is the norm and that is with good credit. Your interest rate will be higher as well. If you are buying this as an investment (in your own future-not as an investment property) you should look into a modular home. Anything but a mobile. You won't get out what you put into a mobile. That said, there are some very nice mobile homes out there.
Answered by thinking-guru - Tue May 8 16:37:29 2007
What are all mortgages loans for first time buyer? What is the current interest rate on mortgages loan?
Q. I am looking for some personal experience from the first time buyer. Where is the best place to get mortgages loan? Is there a federal mortgage loan? I am looking to buy in the next few months and I need some one to guide me on loan and everything about home buying for the first time.
Asked by shitty - Sat Aug 22 10:51:59 2009 - - 2 Answers - 1 Comments
A. There are no "first time home buyer" loans as such. There are loans available from FHA, VA and the USDA which don't require as a big of a downpayment as a conventional loan. For example, the FHA only requires 3.5% down as compared to a conventional which wants 10%. If you're looking in a few months for a house, start saving for a downpayment NOW. The more you can put down, the lower your mortgage payments will be. If you can put 20% down, you don't pay private mortgage insurance (PMI). Also, pull your credit reports from the 3 credit rating agencies. If there are any errors, get them cleaned up. When you're ready, get pre-approved for a mortgage. This will require the lender pulling your credit report, checking your last two years tax… [cont.]
Answered by BigD - Sat Aug 22 14:06:44 2009
Q. I am looking for some personal experience from the first time buyer. Where is the best place to get mortgages loan? Is there a federal mortgage loan? I am looking to buy in the next few months and I need some one to guide me on loan and everything about home buying for the first time.
Asked by shitty - Sat Aug 22 10:51:59 2009 - - 2 Answers - 1 Comments
A. There are no "first time home buyer" loans as such. There are loans available from FHA, VA and the USDA which don't require as a big of a downpayment as a conventional loan. For example, the FHA only requires 3.5% down as compared to a conventional which wants 10%. If you're looking in a few months for a house, start saving for a downpayment NOW. The more you can put down, the lower your mortgage payments will be. If you can put 20% down, you don't pay private mortgage insurance (PMI). Also, pull your credit reports from the 3 credit rating agencies. If there are any errors, get them cleaned up. When you're ready, get pre-approved for a mortgage. This will require the lender pulling your credit report, checking your last two years tax… [cont.]
Answered by BigD - Sat Aug 22 14:06:44 2009
How long is the loan process when buying a house?
Q. I found a house, got a loan approved, made an offer, got the inspection done and the loan company had the apprisal done. Now however my mortgage loan officer said my info was with the underwriters and would let me know of the final approval. Could my loan still be denied?
Asked by shell_1004 - Fri Jan 25 15:02:50 2008 - - 6 Answers - 1 Comments
A. Usually it is around a month maybe a little less depending on how busy the market is. Essentially the only thing that could keep you from getting the loan is having the house appraise for less than the selling price. Otherwise you already got approved for the loan in the amount you made the offer for, so that should be an issue. Unless you ran up some debt that through your debt to income ratio out of whack. You should be O.K. Usually it takes a few weeks to get the loan written up and things finalized. Plus when did you specify to close, if you chose to close at the begining of February then that is probably why they aren't done yet. I just locked in my refinance, (which will take less time) I think we'll get that closed in 3 weeks. 15yr… [cont.]
Answered by Ryan M - Fri Jan 25 15:20:41 2008
Q. I found a house, got a loan approved, made an offer, got the inspection done and the loan company had the apprisal done. Now however my mortgage loan officer said my info was with the underwriters and would let me know of the final approval. Could my loan still be denied?
Asked by shell_1004 - Fri Jan 25 15:02:50 2008 - - 6 Answers - 1 Comments
A. Usually it is around a month maybe a little less depending on how busy the market is. Essentially the only thing that could keep you from getting the loan is having the house appraise for less than the selling price. Otherwise you already got approved for the loan in the amount you made the offer for, so that should be an issue. Unless you ran up some debt that through your debt to income ratio out of whack. You should be O.K. Usually it takes a few weeks to get the loan written up and things finalized. Plus when did you specify to close, if you chose to close at the begining of February then that is probably why they aren't done yet. I just locked in my refinance, (which will take less time) I think we'll get that closed in 3 weeks. 15yr… [cont.]
Answered by Ryan M - Fri Jan 25 15:20:41 2008
What is an interest only loan and what are the benefits and drawbacks?
Q. I was recently pre-qualified for a loan and the loan officer didn't mention any other loan programs except for an FHA? I had to ask about the first time buyers program. I'm just wondering what are some other loan programs and where could I find out about them.
Asked by homeless - Thu May 25 05:34:10 2006 - - 3 Answers - 1 Comments
A. an interest only loan means you only pay the interest accruing. the advantage is having lower payments, because you are not actually paying off what you owe. you could do that for a year or two to clear your other commitments, or to wait for a child to enter school so both parents can work. In Australia, you must finalise a home loan within 30 years of taking it...so paying interest only is actually increasing the rate that you must later pay. If you are certain your home will increase in value, you could presumably pay interest only for an extended period then sell at a profit, clear your debt, and walk away with the remaining cash. However, banks are reluctant to grant such conditions due to the uncertainty of selling at a profit.
Answered by leadbelly - Thu May 25 07:59:31 2006
Q. I was recently pre-qualified for a loan and the loan officer didn't mention any other loan programs except for an FHA? I had to ask about the first time buyers program. I'm just wondering what are some other loan programs and where could I find out about them.
Asked by homeless - Thu May 25 05:34:10 2006 - - 3 Answers - 1 Comments
A. an interest only loan means you only pay the interest accruing. the advantage is having lower payments, because you are not actually paying off what you owe. you could do that for a year or two to clear your other commitments, or to wait for a child to enter school so both parents can work. In Australia, you must finalise a home loan within 30 years of taking it...so paying interest only is actually increasing the rate that you must later pay. If you are certain your home will increase in value, you could presumably pay interest only for an extended period then sell at a profit, clear your debt, and walk away with the remaining cash. However, banks are reluctant to grant such conditions due to the uncertainty of selling at a profit.
Answered by leadbelly - Thu May 25 07:59:31 2006
What is a spa loan? How do i go about getting a spa loan for school? How do i know a spa loan will suit me?
Q. What is a spa loan? How do i go about getting a spa loan for school? How do i know that a spa loan will be the best choice for me? What will i half to pay back,and how long do i half to pay it back?When can i apply for a spa loan? Is a spa loan like a goverment grant?
Asked by leydi - Wed Apr 1 11:27:37 2009 - - 1 Answers - 1 Comments
A. There are many types of student loans to choose frombut non of them are called spa loans. It's important to find one that is right for your particular situation. The two main types of loans are federal loans and private loans. There are three main types of federal loans: Federal Stafford Loans - These are awarded based on financial need and are regulated by the federal government. They can be obtained from a bank, credit union, or directly from the government. There are three kinds of Federal Stafford Loans to choose from: Subsidized Federal Stafford Loan - This loan is long-term and need-based, with a low-interest rate. The term "subsidized" means that the government will pay the interest on the loan while a student is in school or… [cont.]
Answered by packinrat - Sat Apr 4 01:47:06 2009
Q. What is a spa loan? How do i go about getting a spa loan for school? How do i know that a spa loan will be the best choice for me? What will i half to pay back,and how long do i half to pay it back?When can i apply for a spa loan? Is a spa loan like a goverment grant?
Asked by leydi - Wed Apr 1 11:27:37 2009 - - 1 Answers - 1 Comments
A. There are many types of student loans to choose frombut non of them are called spa loans. It's important to find one that is right for your particular situation. The two main types of loans are federal loans and private loans. There are three main types of federal loans: Federal Stafford Loans - These are awarded based on financial need and are regulated by the federal government. They can be obtained from a bank, credit union, or directly from the government. There are three kinds of Federal Stafford Loans to choose from: Subsidized Federal Stafford Loan - This loan is long-term and need-based, with a low-interest rate. The term "subsidized" means that the government will pay the interest on the loan while a student is in school or… [cont.]
Answered by packinrat - Sat Apr 4 01:47:06 2009
Recently applied for a loan and got a conditional approval, What does that mean ?
Q. I applied for a student loan through a private bank and recieved a conditional loan. Does that mean agreeing to things such as the intrest, repayment, or upon graduation and things of that nature. I am happy b/c I had been turned down for other loans or was required to have a cosignor. What does this mean?
Asked by nene - Wed Nov 21 02:29:00 2007 - - 2 Answers - 1 Comments
A. Before signing the agreement you must read it thoroughly Then decide whether you can adhere to the instructions given therein. If it is OK. you can go ahead to get a loan. What they require is prompt repayment of loan either in a lump sum with interest or by monthly instalments They need not bother about your success or otherwise in your exam.
Answered by nayaham19 - Wed Nov 21 02:41:34 2007
Q. I applied for a student loan through a private bank and recieved a conditional loan. Does that mean agreeing to things such as the intrest, repayment, or upon graduation and things of that nature. I am happy b/c I had been turned down for other loans or was required to have a cosignor. What does this mean?
Asked by nene - Wed Nov 21 02:29:00 2007 - - 2 Answers - 1 Comments
A. Before signing the agreement you must read it thoroughly Then decide whether you can adhere to the instructions given therein. If it is OK. you can go ahead to get a loan. What they require is prompt repayment of loan either in a lump sum with interest or by monthly instalments They need not bother about your success or otherwise in your exam.
Answered by nayaham19 - Wed Nov 21 02:41:34 2007
How does a grad school loan work with company-reimbursed tuition?
Q. My company will reimburse my grad school tuition based on my grade for each class. Am I supposed to get a loan first and pay off the loan with the reimbursement money, or do I wait til the end of the semester to pay the tuition? Any good sites for grad school loans?
Asked by NUnum1 - Mon Jul 7 20:58:00 2008 - - 1 Answers - 1 Comments
A. Think of the tuition reimbursement entirely separate from any loans you get. The school does not care if you apply for fin aid or not. However, unless you have the cash to pay your tuition without the loan, you may have to take out a loan to pay your tuition. Most schools require you to pay your tuition up front.. but some do have payment plans on sort of a "pay as you go" through the semester to be paid off by the time the class is finished. To apply for a grad school loan (Stafford at fixed 6.8% interest) go to Your employer should pay you after your grades come in... its up to you what you do with the money. Best to pay off the loans, but not mandatory.
Answered by Found-1 - Tue Jul 8 01:41:59 2008
Q. My company will reimburse my grad school tuition based on my grade for each class. Am I supposed to get a loan first and pay off the loan with the reimbursement money, or do I wait til the end of the semester to pay the tuition? Any good sites for grad school loans?
Asked by NUnum1 - Mon Jul 7 20:58:00 2008 - - 1 Answers - 1 Comments
A. Think of the tuition reimbursement entirely separate from any loans you get. The school does not care if you apply for fin aid or not. However, unless you have the cash to pay your tuition without the loan, you may have to take out a loan to pay your tuition. Most schools require you to pay your tuition up front.. but some do have payment plans on sort of a "pay as you go" through the semester to be paid off by the time the class is finished. To apply for a grad school loan (Stafford at fixed 6.8% interest) go to Your employer should pay you after your grades come in... its up to you what you do with the money. Best to pay off the loans, but not mandatory.
Answered by Found-1 - Tue Jul 8 01:41:59 2008
How do i go about getting a student loan?
Q. I currently attend the University of Texas at Austin and I need a loan. I can't afford my tuition or living expenses and i didn't get enough financial aid. I don't want to have to start paying my loan until after i graduate. Should i try to get a loan through UT, a government loan, or a federal loan? Thanks a lot!
Asked by bubbles500 - Wed Aug 20 01:00:50 2008 - - 2 Answers - 1 Comments
A. Here's a list of the types of loans you can get.
Answered by Coolscott - Wed Aug 20 01:37:48 2008
Q. I currently attend the University of Texas at Austin and I need a loan. I can't afford my tuition or living expenses and i didn't get enough financial aid. I don't want to have to start paying my loan until after i graduate. Should i try to get a loan through UT, a government loan, or a federal loan? Thanks a lot!
Asked by bubbles500 - Wed Aug 20 01:00:50 2008 - - 2 Answers - 1 Comments
A. Here's a list of the types of loans you can get.
Answered by Coolscott - Wed Aug 20 01:37:48 2008
Should I REFINANCE a construction loan to a permanent loan OR convert to a permanent loan?
Q. It seems that interest rates are much lower for refinancing existing loans, as opposed to new loans. I have a construction loan which doesn't expire for a few months, would it be better to refinance the construction loan to a permanent mortgage or do a construction to permanent conversion loan? Which will get me a lower interest rate?
Asked by Whitney - Tue Oct 13 11:22:29 2009 - - 1 Answers - 0 Comments
A. Generally the lender will lower the rate when you convert and the closing fees will be lower. I'd start with my current lender
Answered by wizjp - Tue Oct 13 11:30:11 2009
Q. It seems that interest rates are much lower for refinancing existing loans, as opposed to new loans. I have a construction loan which doesn't expire for a few months, would it be better to refinance the construction loan to a permanent mortgage or do a construction to permanent conversion loan? Which will get me a lower interest rate?
Asked by Whitney - Tue Oct 13 11:22:29 2009 - - 1 Answers - 0 Comments
A. Generally the lender will lower the rate when you convert and the closing fees will be lower. I'd start with my current lender
Answered by wizjp - Tue Oct 13 11:30:11 2009
What loan forgiveness programs are out there for those in education?
Q. I keep hearing references to new loan forgiveness programs for those of us in education. I am a teacher with student loans to repay, and additionally am in the middle of another masters program and have student loans for that. Is there any substance to a loan forgiveness for educators, and if so...how do I find out how to qualify for it?
Asked by Dan - Sun Jan 31 10:51:27 2010 - - 4 Answers - 0 Comments
A. I am Mrs. Loveth Jude from UK, God has bless me with two kids and a loving husband, I promise to share this Testimony because of God favor in my life,2months ago I was in desperate need of money so I thought of having a loan then I ran into wrong hands who claimed to be a loan lender not knowing he was a scam. he collected 2,000USD from me and refuse to email me since. then I was confuse, but God came to my rescue, one faithful day I went to church after the service I share idea with a friend and she introduce me to T&T loan firm, she said she was given 50,000USD by mr thomas, the managing director of t&T loan firm . so I collected his email Address ,he told me the roles and regulation and I followed, then after processing of the Documents, [cont.]
Answered by Mrs Loveth Cole - Mon Feb 1 02:24:57 2010
Q. I keep hearing references to new loan forgiveness programs for those of us in education. I am a teacher with student loans to repay, and additionally am in the middle of another masters program and have student loans for that. Is there any substance to a loan forgiveness for educators, and if so...how do I find out how to qualify for it?
Asked by Dan - Sun Jan 31 10:51:27 2010 - - 4 Answers - 0 Comments
A. I am Mrs. Loveth Jude from UK, God has bless me with two kids and a loving husband, I promise to share this Testimony because of God favor in my life,2months ago I was in desperate need of money so I thought of having a loan then I ran into wrong hands who claimed to be a loan lender not knowing he was a scam. he collected 2,000USD from me and refuse to email me since. then I was confuse, but God came to my rescue, one faithful day I went to church after the service I share idea with a friend and she introduce me to T&T loan firm, she said she was given 50,000USD by mr thomas, the managing director of t&T loan firm . so I collected his email Address ,he told me the roles and regulation and I followed, then after processing of the Documents, [cont.]
Answered by Mrs Loveth Cole - Mon Feb 1 02:24:57 2010
How can I get a personal loan or someone to invest in my start-up business overseas?
Q. I am currently in the military and I get out in the middle of December. I am currently in the middle of starting up a Day Spa (Beauty Spa) for females (in Bahrain) and I have already invested about 85K in loans into the business. I have nearly excellent credit (which is why I got the loans) which I have maintained for about 14 years. Now, about seven weeks from opening, I foresee a shortage of about 30K. I have searched everywhere for another loan, to include the new Patriot Express Business Loan for the military, but, they will not loan for a business overseas. Also, the number of loans on my Credit Report doesn't make it a great idea to apply for another one. In the first month, my projected revenue is 15K. This total will double… [cont.]
Asked by seane.beard - Wed Jul 11 23:21:30 2007 - - 20 Answers - 0 Comments
A. As soon as I get the $50,000 from Mr. Sanjae Gubageghandor in Nigeria as payment for the money I loaned him to get the former Nigerian President's millions of dollars out of storage, I will send the money to you as a gift... just keep it... I have tons more where it came from.
Answered by yobarrabas - Wed Jul 11 23:31:06 2007
Q. I am currently in the military and I get out in the middle of December. I am currently in the middle of starting up a Day Spa (Beauty Spa) for females (in Bahrain) and I have already invested about 85K in loans into the business. I have nearly excellent credit (which is why I got the loans) which I have maintained for about 14 years. Now, about seven weeks from opening, I foresee a shortage of about 30K. I have searched everywhere for another loan, to include the new Patriot Express Business Loan for the military, but, they will not loan for a business overseas. Also, the number of loans on my Credit Report doesn't make it a great idea to apply for another one. In the first month, my projected revenue is 15K. This total will double… [cont.]
Asked by seane.beard - Wed Jul 11 23:21:30 2007 - - 20 Answers - 0 Comments
A. As soon as I get the $50,000 from Mr. Sanjae Gubageghandor in Nigeria as payment for the money I loaned him to get the former Nigerian President's millions of dollars out of storage, I will send the money to you as a gift... just keep it... I have tons more where it came from.
Answered by yobarrabas - Wed Jul 11 23:31:06 2007
How does having a cosigner for a loan affect my credit score?
Q. In doing a consolidation loan it comes to my attention that I may need a cosigner. Will this affect my credit score in any way in regards to the loan, assuming all payments are made as scheduled and the loan is paid off early? For example, would my credit score be better off if I were able to secure the loan without a cosigner?
Asked by the_prairie_prophet - Tue Jul 7 16:38:51 2009 - - 2 Answers - 1 Comments
A. Having a co-signer should have no effect on your score. To get the loan now, they will use your co-signer's credit score to help you get approved. In terms of your score, as long as the loan is paid, your score will improve the same amount no matter if you have a co-signer or not, I believe.
Answered by PoliPino - Tue Jul 7 16:45:26 2009
Q. In doing a consolidation loan it comes to my attention that I may need a cosigner. Will this affect my credit score in any way in regards to the loan, assuming all payments are made as scheduled and the loan is paid off early? For example, would my credit score be better off if I were able to secure the loan without a cosigner?
Asked by the_prairie_prophet - Tue Jul 7 16:38:51 2009 - - 2 Answers - 1 Comments
A. Having a co-signer should have no effect on your score. To get the loan now, they will use your co-signer's credit score to help you get approved. In terms of your score, as long as the loan is paid, your score will improve the same amount no matter if you have a co-signer or not, I believe.
Answered by PoliPino - Tue Jul 7 16:45:26 2009
How exactly do 'interest only' mortgage loans work? When do I pay on the principle of such a loan?
Q. I know APR loans are a bad idea, but how would an interest-only loan work? Would it still be a 30 year note, or do they extend the loan? Would I be able to get a fixed rate with an interest-only mortgage loan?
Asked by ronnieD - Thu May 17 17:02:37 2007 - - 5 Answers - 3 Comments
A. In an interest-only loan or mortgage the borrower only pays interest each month. This makes it cheaper than a conventional mortgage, in which part of each month's payment goes towards the principal and part goes towards interest. These loans have become popular because the monthly payments are lower, allowing borrowers to afford a larger home. However, these loans can be dangerous, especially in a down housing market. The interest rates are generally fixed for the first 1, 3 or 5 years. After that, they convert to a conventional loan, with a higher monthly payment. Most borrowers take on these loans because they assume they will sell the home before the interest rate increases. In a down market, they may not be able to sell. If they… [cont.]
Answered by Kim F - Thu May 17 17:11:35 2007
Q. I know APR loans are a bad idea, but how would an interest-only loan work? Would it still be a 30 year note, or do they extend the loan? Would I be able to get a fixed rate with an interest-only mortgage loan?
Asked by ronnieD - Thu May 17 17:02:37 2007 - - 5 Answers - 3 Comments
A. In an interest-only loan or mortgage the borrower only pays interest each month. This makes it cheaper than a conventional mortgage, in which part of each month's payment goes towards the principal and part goes towards interest. These loans have become popular because the monthly payments are lower, allowing borrowers to afford a larger home. However, these loans can be dangerous, especially in a down housing market. The interest rates are generally fixed for the first 1, 3 or 5 years. After that, they convert to a conventional loan, with a higher monthly payment. Most borrowers take on these loans because they assume they will sell the home before the interest rate increases. In a down market, they may not be able to sell. If they… [cont.]
Answered by Kim F - Thu May 17 17:11:35 2007
How can I get a student loan without a cosigner or any credit?
Q. I need a student loan for around $15,000 and everywhere I apply I get denied because I have no credit. Then the application says I need a cosigner in order to qualify, which I dont have. Are there any private loan lenders that can give me a loan without a cosigner and no credit?
Asked by midway456 - Sun Jul 25 21:19:09 2010 - - -2 Answers - 0 Comments
A. No there are no private loan companies that are going to give you a loan with no credit and no cosigner. If you have no credit history, bad credit, or no cosigner the lender has no guarantee that you will pay the money back. So why would they take a chance on you? Your only option is federal stafford loans, but you will not get 15k in one lump sum.
Answered by missbliss - Sun Jul 25 21:25:26 2010
Q. I need a student loan for around $15,000 and everywhere I apply I get denied because I have no credit. Then the application says I need a cosigner in order to qualify, which I dont have. Are there any private loan lenders that can give me a loan without a cosigner and no credit?
Asked by midway456 - Sun Jul 25 21:19:09 2010 - - -2 Answers - 0 Comments
A. No there are no private loan companies that are going to give you a loan with no credit and no cosigner. If you have no credit history, bad credit, or no cosigner the lender has no guarantee that you will pay the money back. So why would they take a chance on you? Your only option is federal stafford loans, but you will not get 15k in one lump sum.
Answered by missbliss - Sun Jul 25 21:25:26 2010
How can I find the best loan option in order to refinance our home?
Q. We have put an addition onto our house through a personal loan from a family member and want to refinance in order to pay the loan off. I am interested in doing a no doc, or stated, type of loan.
Asked by acaschato - Fri Jun 2 11:56:56 2006 - - 4 Answers - 0 Comments
A. Try Lending Tree on line. You can specify what you are looking for and then the brokers, banks and S & Ls will come to you.
Answered by eskie lover - Fri Jun 2 14:50:46 2006
Q. We have put an addition onto our house through a personal loan from a family member and want to refinance in order to pay the loan off. I am interested in doing a no doc, or stated, type of loan.
Asked by acaschato - Fri Jun 2 11:56:56 2006 - - 4 Answers - 0 Comments
A. Try Lending Tree on line. You can specify what you are looking for and then the brokers, banks and S & Ls will come to you.
Answered by eskie lover - Fri Jun 2 14:50:46 2006
What can a loan company do to me if I do not pay the rest of my loan?
Q. I am unemployed and yesterday, had to close my bank account. I have an outstanding loan with cash call and I called to see what arrangements I could make to pay it, when I get a job. The woman on the phone told me I had to pay this month, in other words, beg, borrow or steal, because I do not have it. She told me to ask my friends, huh! She told me if I do not pay, I will have to suffer the consequences, does anybody know what consequences she is talking about? They cannot garnish my paycheck, right? I know they can put it on my credit report, what else? I am planning to try to pay it this month, but if I don't have a job or I just started a job, how will I pay?
Asked by tetris05 - Fri Jun 29 14:53:36 2007 - - 5 Answers - 0 Comments
A. At this moment, if you truly own nothing, there isn't anything they can do right now, except sue you. However, if they sue you, you will not be able to get credit in the future, or for about seven years. Judgments are reported through the courts though and I think they last ten years. If they get judgment against you, they, in most states, can seize anything you now or in the future own, though they must get an order to enforce in order to take an asset not explicitly secured in their existing loan contract. You could declare bankruptcy, but from the view of your long term credit outlook, you are better off being delinquent and repaying as soon as possible. In many states, they will also be able to garnish future wages.
Answered by OPM - Fri Jun 29 15:12:42 2007
Q. I am unemployed and yesterday, had to close my bank account. I have an outstanding loan with cash call and I called to see what arrangements I could make to pay it, when I get a job. The woman on the phone told me I had to pay this month, in other words, beg, borrow or steal, because I do not have it. She told me to ask my friends, huh! She told me if I do not pay, I will have to suffer the consequences, does anybody know what consequences she is talking about? They cannot garnish my paycheck, right? I know they can put it on my credit report, what else? I am planning to try to pay it this month, but if I don't have a job or I just started a job, how will I pay?
Asked by tetris05 - Fri Jun 29 14:53:36 2007 - - 5 Answers - 0 Comments
A. At this moment, if you truly own nothing, there isn't anything they can do right now, except sue you. However, if they sue you, you will not be able to get credit in the future, or for about seven years. Judgments are reported through the courts though and I think they last ten years. If they get judgment against you, they, in most states, can seize anything you now or in the future own, though they must get an order to enforce in order to take an asset not explicitly secured in their existing loan contract. You could declare bankruptcy, but from the view of your long term credit outlook, you are better off being delinquent and repaying as soon as possible. In many states, they will also be able to garnish future wages.
Answered by OPM - Fri Jun 29 15:12:42 2007
How EASY is it to receive a student loan after being awarded money from my financial aid package?
Q. I have already received my financial aid award from the university I I'm attending in the fall. The problem is that my award with Federal grants, subsidized, and unsubsidized loans did not cover my cost of attendance. (also my parent plus loan got denied) How easy is it to go outside of their package and get a loan from some other bank such as wells fargo or something? Is wells fargo likely to give out student loans?
Asked by Ryan c - Wed Jul 29 16:34:01 2009 - - 2 Answers - 0 Comments
A. Please, anybody but Wells Fargo. Most banks give out loans but if your parents didn't qualify for a parent plus loan, they most likely won't qualify for a private loan. It's also not likely that you will qualify by yourself if you are a student. Depending on how much money you are short and what you are considering "cost of attendance" you might consider a part time job, a roommate, a cheaper school or other ways of cutting expenses or raising income.
Answered by Suba - Wed Jul 29 16:44:17 2009
Q. I have already received my financial aid award from the university I I'm attending in the fall. The problem is that my award with Federal grants, subsidized, and unsubsidized loans did not cover my cost of attendance. (also my parent plus loan got denied) How easy is it to go outside of their package and get a loan from some other bank such as wells fargo or something? Is wells fargo likely to give out student loans?
Asked by Ryan c - Wed Jul 29 16:34:01 2009 - - 2 Answers - 0 Comments
A. Please, anybody but Wells Fargo. Most banks give out loans but if your parents didn't qualify for a parent plus loan, they most likely won't qualify for a private loan. It's also not likely that you will qualify by yourself if you are a student. Depending on how much money you are short and what you are considering "cost of attendance" you might consider a part time job, a roommate, a cheaper school or other ways of cutting expenses or raising income.
Answered by Suba - Wed Jul 29 16:44:17 2009
From Yahoo Answer Search: 'loan'
Fri Sep 10 02:00:00 2010 [ refresh local cache ]
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online.wsj.com
Tue, 07 Sep 2010 22:02:34 GMT+00:00
Wall Street Journal And at least six new deals are expected to hit the leveraged loan market in the next two days. A deluge of new investment-grade bonds flooded the market ...
ifap.ed.gov
Mon, 30 Nov 2009 21:00:00 PST
2009 FSA Conference, Breakout Session 2: Direct Loan Programmatic Primer. ifap.ed.gov.
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ydayd02
Fri, 03 Sep 2010 11:50:42 GM
Payday . loans. come as the ultimate solution when someone needs immediate cash to meet any urgent requirements. Numerous lenders offer these . loans. and the market.
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