Personal Loans

A:

HARP stands for the Home Affordable Refinance Program. A HARP loan provides a refinancing option intended for people who are able to stay current on mortgage payments but are in a financially adverse situation with their mortgage as a whole and owe the current value of their home or more.

See Full Answer
Filed Under:
  • What is a HARP loan?

    Q: What is a HARP loan?

    A: HARP stands for the Home Affordable Refinance Program. A HARP loan provides a refinancing option intended for people who are able to stay current on mortgage payments but are in a financially adverse situation with their mortgage as a whole and owe the current value of their home or more.
    See Full Answer
    Filed Under:
  • What is a signature loan?

    Q: What is a signature loan?

    A: According to Investopedia, a signature loan is a personal loan that does not require collateral to secure, typically issued by a bank or other financial institution. The loan is issued based on the customer's signature on the loan papers and his word that the loan is to be repaid. Because the loan is unsecured, it is also sometimes called a character loan or good faith loan.
    See Full Answer
    Filed Under:
  • Can you get payday loans without a checking account?

    Q: Can you get payday loans without a checking account?

    A: While it is possible to get a payday loan without a bank account, chances are that more information is needed in order for the lender to verify the applicant's income, says HowStuffWorks. The lender may charge higher fees for applicants who do not have bank accounts.
    See Full Answer
    Filed Under:
  • What is the difference between a grantor and a grantee?

    Q: What is the difference between a grantor and a grantee?

    A: The grantor is the seller and the grantee is the buyer. In terms of selling a home, for example, the grantor is either the owner or the company extending the mortgage and the grantee is the person buying the home.
    See Full Answer
    Filed Under:
  • Who is a co-applicant on a loan?

    Q: Who is a co-applicant on a loan?

    A: According to Investopedia, a co-applicant is a person who is seeking a loan in addition to the primary applicant. A co-applicant increases the chance for the loan to be approved.
    See Full Answer
    Filed Under:
  • How can I get a loan if I am unemployed?

    Q: How can I get a loan if I am unemployed?

    A: To secure a loan while unemployed, search online for lenders that specialize in high-risk loans and have programs that do not require employment information on their applications. These applications can be completed in minutes. Be prepared to provide your address, Social Security number and bank account information.
    See Full Answer
    Filed Under:
  • What does "qualifying a buyer" mean?

    Q: What does "qualifying a buyer" mean?

    A: In real estate, "qualifying a buyer" refers to a process of determining whether a buyer has sufficient finances to purchase a home, according to the National Association of Realtors. Qualifying a buyer helps the real estate agent know which homes are best to show the buyer. Items that qualify a buyer include credit score, income, debt ratio, down payment funds and mortgage pre-qualification from a bank.
    See Full Answer
    Filed Under:
  • What does "conditionally approved loan" mean?

    Q: What does "conditionally approved loan" mean?

    A: A conditionally approved loan is a loan approval based on the financial and credit information that an applicant has provided, and it is subject to final verification. Final verification includes employment and income verification, and additional documentation, such as pay stubs, bank statements and utility bills, is required before the loan is completely approved.
    See Full Answer
    Filed Under:
  • How old do you have to be to get a loan?

    Q: How old do you have to be to get a loan?

    A: In order to get a loan, an individual must be at least 18. According to CarsDirect, teens under age 18 remain minors, and legal contracts they sign are not binding.
    See Full Answer
    Filed Under:
  • How do you write a letter requesting a loan?

    Q: How do you write a letter requesting a loan?

    A: A letter requesting a loan should be clear, provide all necessary information, and be typed using the standard fonts and format style on a computer word processor program, according to AviatekBank.com. Spelling and grammar errors should be avoided to appear as professional as possible, and it should use formal language.
    See Full Answer
    Filed Under:
  • How can you find a millionaire who loans money?

    Q: How can you find a millionaire who loans money?

    A: Angel Investors are wealthy individuals who give money to start-up companies, entrepreneurs and inventors under an arrangement that returns shares of the start-up or a percentage of earnings, states Entrepreneur Magazine. Listings such as the Angel Capital Association and Angel List facilitate networking among investors and start-ups.
    See Full Answer
    Filed Under:
  • Q: What are some benefits of CashNetUSA loans?

    A: As of 2015, some of the benefits of CashNetUSA loans include quick and easy online application, and the ability to receive cash the next business day, according the company's official website. The company provides assistance via customer service associates 24 hours a day, seven days a week.
    See Full Answer
    Filed Under:
  • Q: What are some subprime lenders that loan to people with low credit scores?

    A: Subprime lenders that loan to people with low credit scores include LendUp, an online provider of personal loans, and Springleaf Finance, Inc., which has branch locations across the country and provides personal and auto loans, as indicated on each companies' websites. Providers of subprime mortgages include AmeriHome Mortgage, Bank of America, JMAC and Oaktree Funding, according to Blown Mortgage. Subprime auto lenders include Ally Financial, Credit Acceptance Corp. and Dealer Funding, as noted by Blue Sky Marketing.
    See Full Answer
    Filed Under:
  • What do you do if you cannot pay a private loan shark?

    Q: What do you do if you cannot pay a private loan shark?

    A: A private "loan shark" is a person or entity that lends money without official licensing or oversight from government agencies. As such, anyone who borrows money from them is not legally obligated to repay them, especially if the "loan shark" uses intimidation or threats against the person in question.
    See Full Answer
    Filed Under:
  • Q: How do you apply for financial aid?

    A: To apply for financial aid, an applicant must complete the Free Application for Federal Student Aid through the U.S. Department of Education and complete an application for financial aid at the institution of higher learning where she desires to attend. Additional forms may be required by the college.
    See Full Answer
    Filed Under:
  • Q: How do you make Mohela payments?

    A: Individuals can make payment by auto debit, by signing in to the Mohela website, by calling Mohela or by using its bank's online bill pay service, explains the Missouri Higher Education Loan Authority. Individuals may also choose to mail their payments to Mohela.
    See Full Answer
    Filed Under:
  • How do you get an EZMoney loan?

    Q: How do you get an EZMoney loan?

    A: To obtain an EZMoney Payday Loan, the borrower should satisfy several requirements, such as being employed in a full-time job, earning at least $800 per month and having an active checking or savings bank account. Other requirements include the borrower being paid weekly, biweekly, twice a month or monthly and at least 18 years old. If the borrower satisfies all these requirements, he may then apply for an EZMoney Payday Loan.
    See Full Answer
    Filed Under:
  • Q: What is a TSP-21-G form?

    A: The TSP-21-G form is the loan agreement form individuals sign when they borrow against their Thrift Savings Plan accounts, according to the U.S. Government Publishing Office. TSP loans are only available to current military and federal employees, explains Zacks Investment Research. Retired investors and individuals on extended leave are not eligible.
    See Full Answer
    Filed Under:
  • Q: Where can you find free printable promissory notes?

    A: Free printable promissory note templates are available at FormSwift. The promissory notes are downloadable as PDFs, and the language is binding in all 50 states, according to FormSwift.
    See Full Answer
    Filed Under:
  • Q: How do I write a personal loan agreement?

    A: A personal loan agreement should cover in detail how much money is being loaned, whether any interest is being charged, and when the loan balance is due to be repaid, along with the applicable payment schedule if the money is due to be repaid in installments, according to Nolo. This type of agreement is often called a promissory note. Though a loan agreement that has been properly signed by all parties involved is typically considered a binding legal document in all states, getting it notarized may be a good choice for added protection.
    See Full Answer
    Filed Under:
  • Q: What is a good strategy to pay off payday loans?

    A: There are a few different approaches to paying off a payday loan, including asking the lender for an extended payment plan (EPP) to allow for more time to pay off the loan before incurring penalties, reports Credit.com. Only certain lenders, particularly one that is a member of the Consumer Financial Services of America (CFSA), may be willing to offer an EPP. One common piece of advice for payday loan borrowers is to consult a nonprofit credit counseling service for advice on repayment.
    See Full Answer
    Filed Under:

Explore Credit & Lending

  • Personal Loans