Archive for January, 2008

How much do I need to make to get a bank loan?

Ryan D asked: A few months ago I applied for a bank loan of $10,000 to pay off my credit cards. Unfortunetly I was unapproved and recieved a letter saying the reason was “Income insufficient for amount of credit requested.” So how much do I need to make to get a loan? My yearly income [...]

How should I go about selling my current home that I have a mortgage and home equity loan on and go about.

nicolepatricksoellner asked: We want to relocate to my home town to better off my children this would give them a better school district and we would be alot closer to my family, just how do we go about doing this? We have a mortgage on the house we live in now and a home [...]

What are the terms of repayment on a business loan from a bank?

Shamoon asked: If I get a loan from a bank for a business, how do I pay it back? Is it compound interest, simple? Monthly payback? Annual?

Have a register business but don’t know how to write a company profile and how to get bank loan?

abonoyah asked: Hey there, I really need help on how to write up a company profile. I start of small, I use my home as an office. I am from Singapore, I have a register company whereby I am doing import and export. I want to make it big and I need to [...]

Can a fixed home equity loan drop my credit score?

happydawg asked: I requested $10,000 dollar home equity loan to roof my house.
My FICO score was 780 until approx March when I applied for a home equity loan at a fixed rate. Now my FICO score is 740. What happened? I am never late on any payments. I pay over the [...]

How hard is it to get a small business loan?

sullycake asked: I am saving up $10,000 dollars to have up front to give to the bank and I have the business plan, menu and everything set up like that. I am almost 23 and probably will have the money by that time. I am also working on making my credit good and looking for [...]

Is it safe to leave a home equity loan unlocked?

Suzi S asked: I have a home equity loan for $100,000 locked at 7.25%. I decided to unlock it for $200 and relock it a a lower rate, only to discover the new rate was 7.35%. If I leave it unlocked the current rate is 5.49% (prime minus 0.51%). I had short [...]

Will I be able to get a home equity loan if I am currently in a forebearance agreement with my mortgage?

D G asked: We will be listed as “entering foreclosure” until September, but have already made 5 consecutive payments into the forebearance plan, including a large down payment. However, in order to get our finances in order and pay education costs, we need to take out a home equity loan. Will lenders approve [...]

If I want to build a house that will appraise at $800K, will the bank loan me 80% of that amount?

Gman asked: I am assuming I have the credit, income and other financial requirements. What type of bank is most likely to look favorably on this type of loan?

If a bank loans money to a person they KNOW can’t pay it back only because the bank knows that loan will be?

Sophie Tucker asked: packaged up with other loser loans and sold off as good loans to other financial institutions, isn’t that FRAUD at the bank level? Shouldn’t they go to jail for that?