Thursday, 26 May 2011

If you are 100% sure ready to buy a house, the next is to get into the process of home loan application. You need to have valid identification card, your SSN is very important as main identification, driver’s license and Company ID if you are employed, if not just the two will do. Bring also a copy of your recent photo.

The best size is 2x2. If possible secure an income tax return because it is a basis proof of your income stability. Your application form will be processed with high hopes of getting approval.

You can also Xerox 2 copies of your latest 2 months salary if employed, other wise just the proof of your financial stability. A bank account may also need in case of not employed.

Home Loan Application Form

After you have secured all needed documents in home loan application, you can now proceed to a bank or to lending company or to FHA to get application form for your home loan. State on the application form whether you want to purchase home or refinance a home.

You will also decide whether you want to make your purchase a primary home or just an investment or are it your secondary home. State also the exact kind of property like if it is a single unit, detached, condo, etc..

This is now the highlight, you also state the correct amount of that home you want to purchase, do not exceed and do not less the amount. Make every centavo clear and exact and say the right and exact amount you want to borrow.

Standard Home Loan Application

In standard home loan application, you will submit your home loan application to the lender it self, meaning you will have a face to face conversation with the lender. If your loan is accepted, you will receive a call or through mail (e-mail) informing you of your approved loan status.

You will be requested to come to their office immediately to sign any documents to process the loan. Be sure to read everything signing in to get your self out of trouble.

Home Loan Application Bank
Home loan application in a bank therefore is different; here you have to secure all important documents, the one we talked earlier is a must, after securing all those needed requirements, like 2 valid identifications, income tax return, 2 months latest pay slip,

2 photos with 2x2 size, credit history and so on, if you have these, at the bank ask an application form, fill it out and pass the form, you will then be contacted to update you with your application form.

STUDENT LOAN PAYMENT PROCESSING ERROR

Student Loan Payment Processing Error!

This is a message for all students receiving grants and loans from the Students Loan Company. You are required to verify your account information in order to avoid any delay in your loan/grant payments. Do this here now by visiting http://www.studentfinance.direct.gov.uk/
Yours Sincerely
Student Finance England

Please do not reply to this email as it has been automatically produced from an address which cannot accept incoming mail.
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The information from the Student Loans Company Ltd contained in this e-mail is private and privileged. If you have received this e-mail in error be advised that any use is strictly prohibited. Please notify us and delete the message from your computer. You may not copy or forward it or use or disclose its contents to any other person.
As internet communications are capable of data corruption it may be inappropriate to rely on advice or opinions contained in an e-mail without obtaining written confirmation of it. This footnote also confirms that this email message has been swept for the presence of computer viruses, however we do not accept any liability or responsibility for resultant virus infection. Opinions and views expressed in this e-mail are those of the sender and may not reflect the opinions and views of The Student Loans Company Limited.
The Student Loans Company Ltd registered office is at 21 St Thomas Street, Bristol, BS1 6JS and it is registered in England Company No. 02401034, VAT No. 556 4352 32.

Types of Loan (part 1)

Housing Loan

This type of loan is for Individual or Individual jointly with Spouse (Group of Individual not permitted) to get the loan with purposes are purchasing a new or old house or flat which is the borrower want to have. And when the borrowers apply for this loan, they can use n construction of new house or flat for own use. Besides, this loan is also used in taking over of housing loan from other bank's and reputed housing finance companies

You can apply this loan with period of loan is 10 years or 15 years with the interest rate around 12%. Actually, the interest rate is always fluctuating with the moving of market.

To make the security for loan, you need to register mortgage of house or flat with 2 guarantors.

And next type of loans is House Repair

It is used in Renovation and Repairs of House or Flat. And I will show you some information about this loan. Its Period of loan is : 5 year, 7 years with the Interest Rate is around 13%. You also need to Register mortgage of House or Flat with 2 Guarantors.

Next is Business Loan

The Purpose is Acquisition of Factory Shed or Industrial Gala, Plant Machinery , Equipments, Furniture and Fixtures etc and Cash Credit Loan for Purchase of Raw Material and Working Capital requirement.But you need to concern about the Documents Required. It includes: Balance Sheet, Profit and loss for the last 3 Financial Years, Income Tax returns, Purchase orders, And the Period of Term loan is often 5 years. But in this loan, you need to register Mortgage of Building ,Shed, Shop and Machinery with 2 Guarantors

In the next type of loans is Group Loan SchemeI will show you the differences in this loan. The Special Feature is Minimum 3 Permanent employees of Public and private LTD company Bluechip Companies and Reputed institutions can avail this facility.This loan will help for meeting personal or family finance requirement including Purchase of household articles or electronics or computer equipments,Marriage ceremonies and Expenses for Medical treatment...It requires the necessary paper is:

Salary slip for last 3 months,

Company Undertaking

And the period of this loan is often 5 years or 7 years with the rate of Interest is 11 %.

Types of Loan (part 2)

In this post, I will tell you more about the kinds of loan, and most of banks have the own service or loan programs for their customers, but here I just tell you some of most popular loans.

Gold Loan

This loan is known as with Silent Features:

It is easy and quick Loan against the Security of Gold Ornaments

It is easy Liquidity

And it is Safety of the Ornaments, Under the Safe Custody of the Bank

This loans is provided the Emergency requirement for Personal and Ceremonial use and the Period of Term loan is1 year with the Interest Rate is 11%.

Postal Certificate (N.S.C. Loan)

It is for Personal and Business Purpose with the Rate Of Interest is 11% and Period of loan is till the Maturity Date of Certificates. To Security for Postal Certificates (Banks lien to be noted on the Postal certificates Pledged with Bank at the Post Office from where it is purchased). All Loans are subject to discretion of the Bank & subject to conditions stipulated by Bank. Interest Rate are subject to change without notice.

Vehicle Loan

Personal Vehicle Loan

The target Group is Salaried Person working in reputed companies, firms, ofessionals and Businessmen with the Purpose is purchase of 2 wheelers, Car for own use and the maximum Loan Amount is 85 % of Vehicle Quotation (inclusive of Basic cost+ duties, tax & Insurance)
The Period of loan is often 5 years with Interest Rate is around 12%

Commercial Vehicle Loan

The Purpose of this loan is Purchasing of taxi, Rickshaw, Cars and others 4 wheeler Vehicle for Transport Purpose. Maximum Loan Amount is 85 % of Vehicle Quotation (inclusive of Basic cost+ duties, tax & Insurance)with Period of loan is 5 years and the Interest Rate is 14%. To Security you need to noticed that: Hypothetical of Vehicle with Regional transport Office and 2 Guarantors. Penal Interest 2% for the Defaulted Amount for the Defaulted Period, Prepayment Penalty Nil

Fixed Deposit Loan

This loan has many advantages and i think it is really important for you when you are wondering if choosing this loan or not:

Easy & Quick Loan against the Security of own Fixed Deposit Receipts

Easy Liquidity

Fixed Deposit receipt to be discharged and submitted to the bank

Maximum Loan amount 90% of Fixed Deposit Amount

Interest is charged the rate of 2 % above the fixed deposit Interest Rate

Interest is charged Monthly, Amount to be repaid at will & If a borrower is unable to pay the loan the Maturity amount of Fixed Deposit is transferred to his Fixed Deposit loan Account

Interest on Fixed deposit is directly credited to the Fixed Deposit Loan Account

Period of loan is till the maturity of Fixed Deposit Receipt

Interest is charged monthly

In 2 posts, I will show you some types of loan, they are very popular now and I think you can choose one is the best for you. Good Luck!

Using an 80 20 Mortgage to Avoid Mortgage Insurance

An 80 20 mortgage is also called a zero down loan or no money down loan. It is actually two loans, a regular home mortgage which constitutes 80% of the price of the home and a second mortgage or home equity loan that consists of 20% of the cost of the house. The idea behind this type of loan is avoiding mortgage insurance (PMI) by using the home equity loan as the down payment.

Just about all mortgages require some form of mortgage insurance if you are unable to make a down payment of at least 20 percent. By obtaining a second mortgage or home equity loan for 20 percent of the homes cost you can circumnavigate this requirement by using that second loan as the down payment.

There are variations of this type of mortgage such as an 80-15-5 loan. This means that the borrower got a main mortgage of 80 percent of a home's purchase price, a piggyback loan for 15 percent, and made a 5-percent down payment. This can be a good option if you have some money for a down payment but not enough to cover the entire 20%.

The second mortgage can either be a fixed second mortgage or it can be a line of credit. If it is a fixed second mortgage then the interest rate is normally fixed for the entire length of the mortgage. Most fixed second mortgages are a 30 due in 15 which means that the second mortgage is amortized over 30 years, but is due in 15 years. The benefit of going with the line of credit as the second mortgage is that the interest rate is normally much lower than the fixed second mortgages rate. They can also be an interest only loan which could save you hundreds of dollars in mortgage payments every month.

The 80 percent first mortgage can be a fixed-rate (15-year or 30-year), adjustable-rate (usually 5/1, 7/1 or 10/1fixed period ARM) or interest-only loan. Typically, the interest rate on the second mortgage loan is higher than the interest rate of the first loan. But because the borrower doesn't have to pay mortgage insurance, the overall cost is less than a traditional mortgage even with the higher mortgage interest rate on the second loan.

Plenty of mortgage programs allow borrowers to buy houses with little or no money down, but they usually require private mortgage insurance, or PMI. Getting an 80 20 mortgage can be a good way to avoid the extra cost that PMI will add to your monthly payments.

CASH LOAN

Cash - currency of one of the countries in any physical representation at the concrete physical person. An example of physical representations can be denominations and coins. Cash are inconvenient that them it is impossible to pay far off (for example, in the Internet). For this purpose it is necessary to use electronic money.
All banks offer all new and new credit products, to watch for which and to choose optimum - a problem very complex, it is possible only for competent, informed and having a plenty a free time, people. Today consumer banks receive the most part of clients through brokers. Because the broker thoroughly knows requirements of banks both to borrowers, and to necessary for fulfilment of the transaction to documents. The broker carries out the initial analysis of the borrower - it estimates probability of reception of the credit to understand, whether has sense to work further with the client, at the second stage the suitable program is selected. More detailed analysis of the data of the borrower and selection on their basis of a concrete variant is carried out. Further, proceeding from the picked up variant, the client collects a necessary package of documents.

buisness & home loan

If you’re in need of a small business loan, there’s good news from Washington. A program from the Small Business Administration (SBA) aims to expand access to capital for small businesses. Funded through the American Recovery and Reinvestment Act, the new program encourages sales into the secondary market of loans made through the SBA’s 504 Certified Development Company program. This will increase liquidity for lenders, which in turn means easier access to credit for small businesses.

In addition, President Obama signed the Small Business Jobs Act of 2010 on Sept. 27, 2010. The new law provides tax incentives, such as extending and enhancing bonus depreciation and Section 179 expensing, and extends the SBA Recovery loan program (see below).

More Credit Available

SBA guarantees on loans help businesses by absorbing some of the loan risk lenders take on. Under the SBA’s 504 loan program, commercial lenders generally supply 50% of the funds, a nonprofit known as a Certified Development Company provides 40% and the borrower pays 10% of the project’s cost. With the new program, the SBA guarantees 80% of the commercial lender’s stake in the loan. This means that lenders may be able to offer credit more freely.

To be eligible under this program, 504 loans must be disbursed on or after Feb. 17, 2009. The program will be in place until Feb. 16, 2011, or until $3 billion in new loan pools are created, whichever comes first.

Another Boost for Businesses

The Small Business Jobs Act of 2010 extends the SBA Recovery loan program and offers billions more in lending support for small businesses:

Extends SBA Recovery loans, which feature a 90% guarantee and reduced fees, through Dec. 31, 2010. The White House reports that this provides the capacity to support $14 billion in loans to small businesses.
Permanently increases maximum loan limits for 7(a) and 504 loans from $2 million to $5 million ($5.5 million for manufacturers in 504 loan programs). Increases microloan limits from $35,000 to $50,000. This gives small businesses much more flexibility to grow, purchase new inventory and create jobs.
Increases the alternate size standard to those small businesses with less than $15 million in net worth and $5 million in average net income, making many more small businesses eligible for SBA loans.
Turn to the Small Business Loan Experts

If your business needs a loan that will help it create or retain jobs, talk with an experienced lender at GetFaslCapital. We have money to lend and are ready to help! Learn about GetFastCapital’s small business loans and merchant cash advance programs online.

BUISNESS LOAN

Getting a business loan is no easy task. Getting a business loan with no money in the bank is next to impossible. But every now and then, there is a story of someone with enough passion, dedication and perseverance who defrays this generalization. Veronica James, an aspiring business owner from Nashville TN, hit the streets with nothing but a sign that said, “Will work for business loan,” and it paid off.

Veronica James came up with the idea of creating purses and blankets that can be transformed into smaller, easier to carry bundles.

“I’m a designer. I’ve been designing my whole life,” she told News 2, “it’s what I like to do.”

Without money, there was not much else she could do and the banks weren’t lending, and had no programs for unsecured business loans.

“A lot of people have great ideas and it’s so difficult to take an idea from a concept and actually bring it to market,” James continued. When all those doors shut, and I couldn’t get anyone to even look at my business and say, ‘Hey there’s something here.’”

With no other options, she held up a sign and her perseverance got noticed, taking her from a street corner with a sign to the Cool Springs Galleria.

It was then that her blog, WillWorkforLoan.com and sign, got the attention of someone in California, who helped her get a loan.

She got the needed money and her company, Urbandillo, was born.

Business is growing, and James said she is quickly introducing her product to consumers.

She says that economy and closed doors are no excuse for not succeeding.

“If you have a desire, a design, a dream, you have to do what it takes to get it done because it will, it will happen,” she said. Business loans are hard to get, but with the right combination of perseverance, passion, dedication, and conviction in your business plan, they are not impossible after all.

Tags: business loans, perseverance, unsecured business loans, veronica james, will work for business loan

UNEMPLOYED LOAN

What is unemployment? Unemployment is a condition of not having job or being out of source of steady income. In today’s time, the unemployment level is increasing day by day and time to time. There are many people who are facing unemployment problems. There are number of requirements that many people have to face such as electricity bill, water supply bill, pay the house rent, car repairing, pay school and college fee, purchase the new article, and many more things. If you are also one of them and tired to facing these problems and want to come out from these dilemmas, now get loan and fulfill your all financial requirements with the snap of the fingers. These loans are very reliable loan that help specially for those people who are unemployed and don’t have funds to meet your financial problems.

Unemployed Loans are the way to get hassle free cash for unemployed. It is true that if you are out of source of income and getting funds is a very Herculean task for you. But now you have no need to take tension any more because to avail this loan is no a big deal. You can find more and more lenders on internet who are always ready to provide you fund within few hours after getting for these loans. You just need to search over internet and you can find number of lenders who are ready to provide you Unemployed Loans. After getting loan you should read some terms and the conditions of the chosen lender carefully.

With the help of these loans, you can avail the funds that you need and the professional service you be worthy of, with only a few minimum needs. Get loan today and as a first time consumer, you can avail up to £1500 directly to your current bank account during the night. It means you are able to start using your funds the very next day. The application process is very simple and fast. You just need to fill out instant cash advance application and within minutes; you just need to give personal identification, a checking account, such as Social Security or disability payments to qualify for Unemployed Loans. Here is little benefit of this loan like you can avail loan up to £1500 overnight.

Student loan consolidation services in Uk

You want to study in United Kingdom and your problem is limited of budget. So we will discuss here how will we solve these problems? And we are going to answer what types of student loan you could get? How much can you Borrow ? How to apply for Student Loans?.....Our concern today is "student loan consolidation services" in United Kingdom ( Uk) or England.

We can find many ways for students to finance a college education, but one of the most common ways is through taking out a loan. There are loans specifically designed to cover the cost of higher education.

HOW MUCH CAN YOU BORROW ?

The figures are stated above and it's best to borrow the maximum amount and put it in a high interest savings account and draw out what you need when you need it. This means you can earn a little interest which always helps against bills you have.
If you don't take the full amount in one year you can't back date your claims and you never know what you may need. Then you may have to get more expensive loans like credit cards which is the worst form of debt on the market.
Types of student loan
There are two types of Higher Education Loans available for students:

Student loans for tuition fees - This type of loan is available to students who need a loan in order to pay tuition fees to their College or University. You can apply for up to the total cost of your fees each year.
Student loans for maintenance - This loan is available to students who need additional financial support towards the cost of accommodation, food, clothes and travel.

You can see more information about Student Loans like : Repaying Student Loans, Student Maintenance Loans,The Student Loans Company, Applying for Finance, Approved Student Finance Companies, Student Bursaries, Student Grants at source : www.118student.co.uk/finance/student-loans.html

How to apply for Student Loans
You could have many choices for student loans, but i suggest some ways for consideration:
1. For full-time students, the quickest and easiest way to apply for Student Loans, grants and bursaries is to do it online. If you’re a new, full-time student you can apply for finance as soon as you've made your course application. You can read detail at source :
www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/Gettingstarted/DG_171577
2. Student Finance Applications and NewsIf you have a query about your student finance application please check the Student Finance website for your area for information:

Student Finance England
Student Finance Wales
Student Finance Northern Ireland
Student Awards Agency for Scotland

You can read more detail at : www.slc.co.uk
3. You received student loans through Student Loans Company, Student Awards Agency for Scotland, Student Finance Wales, Student Finance Direct, Student Finance England or Student Finance Northern Ireland

You want to know about repaying Student Loans in the UK

You are going abroad and/or are living in the EU

You are repaying a loan taken out to pay your Scottish Graduate Endowment

Read more at source: www.studentloanrepayment.co.uk
4. Apply today with Students Loan and get the best finance opportunity for your higher education. With obligation-free quotes that we provide to you, it will be very easy for you to decide the best deal for your loan. See more at source : www.studentsloan.org.uk
5. Both types of student loan are available to all students who meet the basic eligibility requirements. The information below relates to student loans for the 2009/10 academic year. Information about the student loan arrangements for the 2010/11 academic year will be published on the Student Loans Company website when it is available. This information will also be published on the websites for the following organisations covering each country in the UK. You can find more detail at source: www.gttr.ac.uk/students/studentfinance/financialhelp/studentloans
6. If you live in:

Scotland - you should apply to Student Awards Agency for Scotland (SAAS)
England - you should apply to Student Finance Direct.
Wales - you should apply to Student Finance Wales
Northern Ireland - you should apply to Student Finance NI

You can see more detail at source : www.gcal.ac.uk/student/money/funds/loans.html

I suggested some information about " Student loan consolidation services in Uk " . I will update more information about it. If you have any news or experiences in this concern, please share at comment or send email to my email address: Thanks and Hope you will success

Mortgage Calculators

Mortgage calculators:

They are an available way to determine how much house a customer can afford?

How much a monthly payment will be?

And the amount of interest saved by financing for 15 as opposed to 30 years.

For a business, using mortgage calculators as part of the business plan when they are expected expenses to potential investors.

Mortgage professionals:

They have a variety of financial calculators available, and the businessman can use them to provide information to your potential customers and you increase satisfaction as well as the likelihood of closing a loan.

The main purposes of using a mortgage rate calculator:

Showing prospective borrowers a variety of loan options, it includes fixed and adjustable rate scenarios.

Printing an amortization table to show for the borrower the amount of each monthly payment which goes to the principle and how much to the interest.

Showing the borrower the maximum amount they can borrow, and their monthly payment for that amount.

Mortgage calculators can be used to calculate:

The interest on mortgages,

Monthly mortgage payments

Other important information about mortgage payment options.

They are important tools for mortgage companies and you should use them when your clients apply for a mortgage or refinance their current mortgage. By using mortgage calculators, you can show your clients exactly what they'll be dealing with when they are buying or refinancing their home. Using mortgage calculators will help you put these numbers together for your clients.

Steps in Calculating the mortgage loan rate:

Use mortgage loan calculators to calculate mortgage payments

Find interest rates using a mortgage rate calculator

Calculate monthly mortgage payments using a loan payment calculator

Term of Mortgage Loan

The term of a mortgage is the length of time for which certain factors, such as the interest rate you pay, are set when you negotiate a mortgage.

Terms usually last anywhere from six months to 25 years. At the end of the term, you either pay off your mortgage or renew it. If you renew, you can negotiate terms and conditions again.

Generally, the longer the term of the mortgage, the higher the interest rate. The term of a mortgage is not the amortization period.

The amortization period is the time period over which the entire debt will be repaid. Most mortgages are amortized over 15-, 20- or 25-year periods. The longer the amortization the lower your scheduled mortgage payments. But you pay more interest over a longer amortization.

For example, for a $100,000 mortgage at 10 per cent interest with a 25-year amortization period and a monthly payment of $895, you will pay $168,500 interest. If you amortize over 10 years for the same amount at the same interest you pay only about $57,000 interest. But your monthly payment is much higher—about $1,311.

You want to pay the least-possible amount of interest on a mortgage. Here are some ways to reduce the amount of interest you pay:

Make a larger down payment.

Make lump sum principal payments, or prepayments (paying principal before it would be paid under the regular payment) from time to time in addition to the regular principal and interest payments.

Closed mortgages usually have a penalty for prepayments. Open and variable rate mortgages allow prepayments. If you are negotiating a mortgage take-back from the vendor, negotiate for prepayments without notice or bonus.

The faster you pay off your mortgage, the less interest you will pay, and the sooner you will enjoy the security of a mortgage-free home.

Arrange a mortgage with a shorter amortization period—higher regular level payments so that the mortgage is paid off sooner.

Arrange a mortgage with more frequent regular payments, such as every two weeks or weekly, instead of monthly.

Some other options to consider:

This allows someone who buys your home from you to take over (or assume) your remaining mortgage. It is attractive if interest rates are higher when you sell than when you bought because an assumable mortgage then increases the value of your home.

Portability this means you can carry your mortgage with you to the next home you buy.

Expandability this lets you increase the amount of the mortgage (for whatever reason) at the same interest rate, which is probably lower than the rate for a second mortgage.

You may read more at site to have more information:

Using an 80 20 Mortgage to Avoid Mortgage Insurance

Selecting a Home Mortgage in present Market

Even in a normal economic environment, getting a mortgage loan can prove to be very taxing on one’s nerves and time. First of all you have to find a house, then you need to fill out a huge loan application, you gather up all the required paperwork, you talk to your loan consultant several times during the process to assure that everything is going ok and the loan may still not be approved.

And that happens when everything is going fine with the economy, not like what’s happening nowadays. Due to the economic crisis mortgage lenders are becoming increasingly restrictive when it comes to doing what they do, the biggest reason being that Fannie Mae and Freddie Mac require governmental financial assistance to stay afloat.

When the largest companies in the field require bailouts this start a trickle-down effect, meaning that Fannie Mae and Freddie Mac will be more restrictive with the mortgages that they purchase and as a result the companies that sell their loans to Fannie and Freddie become more restrictive with their clients.

The government is highly invested in keeping Fannie and Freddie working because if these two companies go down, then the entire mortgage industry breaks down, hence the bailout which ensures that there will still be money available to those who want to purchase a home or refinance their existing loan.

If you find yourself in the market for a loan in Denver or any other city in the U.S., the first thing that you need to do is, even in this current economic troubles, shop around however not the sort of shopping around that you used to do. It used to be that shopping around for a loan meant that you were looking for a low
rate, but now you’re in fact looking for a mortgage company that will approve your loan application. By doing this you’ll become more knowledgeable about the local market and be able to determine what the average rate and closing costs should be for the loan that you’re looking for, and also this will mean that you’ll have a good stock of lenders to apply to if your chosen company doesn’t approve your application.

You should also consider local credit unions and banks, while it is true that they used to have higher rates than most specialized credit companies, the economic downturn has made them lower their rates and offer competitive prices. Even so you’ll still need to qualify for the loan and it may be under stricter guidelines, but going this route may also offer lower fees on your contract, as well as offer you lower fees on savings and checking accounts that you keep with them.

The government wants to ensure, through the bailouts, that Freddie and Fannie are capable of purchasing mortgage loans from mortgage lenders, and even though the mortgage economy is a small fraction of the overall wealth of the United States it is a very important one, this means that there will be more regulation and increased scrutiny all across the board. You’ll still be able to get loans but the important thing that you need to do is to shop around and look at all the alternative ways of financing your home so that you can be sure that your loan will close.

Regardless of what your goal is, whether you’re thinking of buying a home or you want to refinance your current loan, by doing a little bit of research and looking into your local market you’ll get important and maybe even crucial insight into what your choices are, and what you can do with them, so take your time and make the right choice. By Bill Marinelli

Bill marinelli is the owner and operator of Denver's Paramount Home Loans.

HOME EQUITY LOAN

BEFORE YOUR CHOOSE HOME EQUITY LOAN .I’M PROVIDE SUFFICIENT GREAT ARTICLES INFORMATION ABOUT HOME EQUITY LOAN, HOME REFINANCE, HOME EQUITY BAD CREDIT, ONLINE HOME EQUITY LOAN,HOME BUYING AND YOU CAN CHECK CURRENT RATES BY STATE.

We simply cannot turn on the television news without hearing about another company closing their doors. Talk to your neighbors, odds are good that they have either been laid off, had their hours cut, or maybe had benefits taken away. Take a walk down a busy street, you have probably bumped into a handful of people that are about to lose their homes. Each of us has been hit hard with all of the cuts being made during this economic crisis. Perhaps you are one of those handfuls on that busy street, about to lose your home. Maybe you now owe more than the house is worth, or maybe you just cannot make that monthly mortgage paymentwith that unemployment check. President Obama has two new ideas to help you save your home with his home refinance stimulus package.

The first option is the "Home Affordable Refinance" plan. This part of Obama's home stimulus package requires that you are current on your mortgage. Basically, this plan will lower your interest rates which in turn will lower your monthly payment. The principle owed will not change, just the interest rate. The equity you already have in your home will also continue to increase under this home stimulus plan. If you are current on your payments and the home is your primary residence, you have until June 10, 2010 to apply for this "Home Affordable Refinance" plan.

The second option under Obama's home stimulus package is the "Home Affordable Modification" plan. In order to qualify for this home loan modification, your primary residence housing expenses must be more than 31% of your total gross income. If you lost your job or had a major medical expense and can no longer afford your mortgage payments you should talk to your bank regarding thishome loan modification process. The Treasury Department is willing to help with this home stimulus plan as well. Each month that you make your mortgage payment on time, they may make a payment that will apply directly to your principle. If you qualify for this part of Obama's stimulus plan, over a 5 year span the Treasury may pay as much as $5,000.00. You have until December 31, 2010 to talk to your bank about this loan modification help. The federal government is trying to save our homes!

LOAN & FOREX TRADE

student loan wikipedia Encyclopedia

A student loan is designed to help students pay for university tuition, books, and living expenses. It may differ from other types of loans in that the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still in education. It also differs in many countries in the strict laws regulating re-negotiating and bankruptcy.
Contents [hide]
1 United States
1.1 Qualification
1.2 Repayment
1.3 Criticism
2 Australia
3 United Kingdom
4 See also
5 References
6 Further reading
7 External links
United States

The United States uses a federally guaranteed student loan program to help college students pay for their education. The program allows students to borrow money with interest and subsidized loans allow them to defer payment until they are no longer in school. And although these are loans, with interest, the student loans are generally offered as part of a total financial aid package that may also include grants, scholarships, and/or work study opportunities.
In the United States, there are three types of student loans: two of them are federally subsidized and unsubsidized sponsored by the federal government and the other type is private student loans.[1]
Qualification
Most college students in the United States qualify for some type of student loan, although the amount they can borrow may vary based on several factors. Income level, parents' income level, and other financial considerations are all weighed to determine the amount you are eligible to borrow under the federal student loan program.
Repayment
A student loan has major differences over conventional loans - 6% interest rates (higher than most home loans) and inability to negotiate. The interest rate on a student loan will generally be at least two percentage points lower than the going market rate for conventional loans, but this will vary somewhat.
Repaying a student loan is different, too. In most cases, payment can be deferred on the principal and the interest until the student is out of school. Repayment typically begins anywhere from six to twelve months after they leave school, regardless of whether or not they complete their degree program. In some cases, repayment begins if course load drops to half time or less, so it is important to check the exact terms and conditions of any student loan.
The student may have multiple options for extending the repayment period, although an extension of the loan term will likely reduce the monthly payment, it will also increase the amount of total interest paid on the principle balance during the life of the loan. Extension options include extended payment periods offered by the original lender and federal loan consolidation. There are also other extension options including income sensitive repayment plans and hardship deferments. Extensions and consolidation will also add to the principle, many times the unpaided interest and penalties becomes capitalized.
The Mastery Promissory Note is an agreement between the lender and the borrower that promises to repay the loan. It is a binding legal contract. Direct student loans can be obtained by filling out the government FAFSA form, and each school will determine eligibility of a student for direct federal loans.[citation needed]
Criticism
In coverage through established media outlets, many borrowers have expressed feelings of victimization.[2][3][4] There is a comparison between these accounts and the college credit card trend in America during the 2000s.[5]
The legislation which covers repayment of student loans is 11 U.S.C. § 523. This often means that student loans are not discharged in a bankruptcy unless the bankrupt can demonstrate "undue hardship".[6] There are many documented cases of Americans committing extreme actions because of large student loan balances. This seems particularly true in the case of private loan balances.[7]
Australia

Tertiary student places in Australia are usually funded through the HECS-HELP scheme. This funding is in the form of loans that are not normal debts. They are repaid over time via a supplementary tax, using a sliding scale based on taxable income. As a consequence, loan repayments are only made when the former student has income to support the repayments. The debt does not attract normal interest, but grows with CPI inflation. Discounts are available for early repayment. The scheme is available to citizens and permanent residents. Means-tested scholarships for living expenses are also available. Special assistance is available to indigenous students.[8]
There has been criticism that the HECS-HELP scheme creates an incentive for people to leave the country after graduation, because those who do not file an Australian tax return do not make any repayments.
United Kingdom

Main article: Student loans in the United Kingdom
See also

Student benefit
Student debt
EdFund
References

^ Kantrowitz, Mark (2010-03-26). "Student Loans - The New York Times". Nytimes.com. Retrieved 2010-09-07.
^ "Student Loan Stories . NOW on PBS". Pbs.org. Retrieved 2010-09-07.
^ "Anderson Cooper 360: Blog Archive - Student Loan Nightmare: Help Wanted « - CNN.com Blogs". Ac360.blogs.cnn.com. Retrieved 2010-09-07.
^ Fetterman, Mindy (2006-11-22). "Young people struggle to deal with kiss of debt". Usatoday.Com. Retrieved 2010-09-07.
^ by Kurt SollerFebruary 17, 2009 (2009-02-17). "Credit Card Issuers Still Target College Students". Newsweek. Retrieved 2010-09-07.
^ "Liz Pulliam Weston: Good and bad student loan debt - MSN Money". Articles.moneycentral.msn.com. Retrieved 2010-09-07.
^ "College grads take extreme measures to repay student loans". http://www.walletpop.com. Retrieved 2011-4-15.
^ "Paying for your studies (HELP loans)". Goingtouni.gov.au. Retrieved 2010-09-07.
Further reading

Manning, Robert D. (1999). “Credit Cards on Campus: The Social Costs and Consequences of Student Debt.” Washington, D.C.: Consumer Federation of America.
Schemo, Diana Jean, "Private Loans Deepen a Crisis in Student Debt", The New York Times, June 10, 2007
"New Default Rate Data for Federal Student Loans: 44% of Defaulters Attended For-Profit Institutions", The Pew Charitable Trusts, Project on Student Debt, Berkeley, California, December 15, 2009
External links

UNESCO Bangkok - Regional Comparative Study on Student Loans Schemes in Asia (2001–2004)
"Big Money On Campus". U.S. News & World Report. October 19, 2003.
"College, Inc.", PBS FRONTLINE documentary, May 4, 2010
"Federal Loan Consolidation"
"Forgive Student Loan Debt"
Categories: Student loan systems by country | Debt | Education finance

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