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What lender would most likely charge you the highest interest rate on your loan?
finance company
What is a finance charge?
A finance charge is interest charged by a lender on the unpaid balance of a loan.
Charge made for using another's money?
If you are talking about interest, that is a charge that a lender can add onto a borrower's principal amount in exchange for the borrower using the lender's money (aka a loan). If you are talking about a criminal charge, that would be either theft or fraud.
Does homeowners insurance pay the loss to the homeowner or the lender?
The leinholder is paid off first, then anything remaining goes to the homeowner. This is usually done with a check that is made out to both the lender and the homeowner.
What are some of the drawbacks of using a bad credit lender?
Using a bad credit lender, such as a payday loan service, can result in paying huge interest charges. To get a payday loan, you pay a small charge in interest. If you cannot pay the loan back in time, the small charge can grow into a large charge.
What lender would most likely charge you the highest interest rate on your loan?
finance company
What is finance charge?
A finance charge is interest charged by a lender on the unpaid balance of a loan.
What is a finance charge?
A finance charge is interest charged by a lender on the unpaid balance of a loan.
Charge made for using another's money?
If you are talking about interest, that is a charge that a lender can add onto a borrower's principal amount in exchange for the borrower using the lender's money (aka a loan). If you are talking about a criminal charge, that would be either theft or fraud.
Can a lender take legal action against the homeowner?
It's called repossession. The lender owns the property, the homeowner is making payments.
Does homeowners insurance pay the loss to the homeowner or the lender?
The leinholder is paid off first, then anything remaining goes to the homeowner. This is usually done with a check that is made out to both the lender and the homeowner.
Can a lender charge you interest in Michigan on the remaining balance of a car repossed?
It is still a loan. as long as you owe, interest accrues.
What are some of the drawbacks of using a bad credit lender?
Using a bad credit lender, such as a payday loan service, can result in paying huge interest charges. To get a payday loan, you pay a small charge in interest. If you cannot pay the loan back in time, the small charge can grow into a large charge.
Can a lender charge a 500 dollar up front fee to lock in an interest rate on a refinance loan?
They can charge a commitment fee or a lock fee, most certainly. Not everyone does it but it depends on the lender, it is not uncommon though.
What is th highest interest rate on a personal loan?
Usury laws provide that interest rates charged on any loan may not exceed 25% As high as the lender wishes it to be.
What is a payday lender?
A payday lender is one that will lend you a relatively small amount of cash, and in turn, charge a high interest rate. They will typically withdraw the money on a set schedule, on the day you get paid.
Do you need homeowners insurance the day of closing if you pay cash?
No, the lender is the party that requires insurance at closing because they have an interest in the property due to the loan they are providing for purchase. Since there is no lender, no homeowner's would be REQUIRED. However, since YOU have an insurable interest (because ALL of your cash is tied up in the house) , I would highly advise ppurchasing coverage for your home!
