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5 Types of Collateral for Auto Loans - Financial Web

Using collateral for auto loans will significantly reduce the cost of the loan by lowering the interest rate. With collateral, the borrower is assuming more of the risk than the lender. This allows the lender to offer lower rates and more flexible terms. Consider these sources of potential collateral:

#1 The Car Itself

Nearly every auto loan uses the car being financed as collateral. The lender...

Financing a New Car with Bad Credit - Financial Web - The ...

Whether you have poor credit or absolutely no credit, there are several ways to finance a good, new vehicle . You don't have to be stuck driving a broken down, undependable heap; you can get financed for a car that you'll be proud to drive, even if you have little or no money for a down payment. For instance, credit unions can be quite lenient on new car loan . Join a local credit union, and...

How Does Debt Consolidation Affect Your Credit Report ...

Your debt consolidation credit report should look better than the credit report you had before you combined your bills. Ultimately, the goal is to improve your credit and not harm it. That is why it is important to understand how debt consolidation will affect your credit.

Your Debt Consolidation Credit Report: Positive Effects

One positive effect that debt consolidation can have on your credit...

What is a Savings Secured Loan? - Financial Web - finweb.com

If you are looking to borrow money, you may have questions about certain loan products and want to know what a savings-secured loan is. The basic definition of a savings-secured loan is a loan that is taken out by a borrower against the amount of money in his or her savings account.

Borrow Money for Any Reason

For savings-secured loans, lenders will typically grant automatic approval regardless of applicants' credit...

Hard Money Loans - Financial Web - finweb.com

To many people, the term hard money lender usually evokes thoughts of big, sleazy, overcoat-clad men carrying baseball bats. Today however, the hard money lender is a professional investor who fills a much-needed gap that conventional lenders balk at. And though their rates and fees are high (even exorbitant at times), many real estate speculators and investors would not be able to operate in the market without them. But beware: hard money...

Commercial Loan Underwriting Guidelines - Financial Web

Calculating Early Loan Repayments - Financial Web

Let's assume that you've come into a nice sum of money and decided to repay a loan before its scheduled due date. The early repayment should reduce your total financing costs because the lender will have its money returned to it ahead of schedule. But, you may be required to compensate the lender, who stands to lose interest income because of the early retirement of the loan. Any potential...

What Happens when Your 2nd Mortgage Becomes a Charge Off ...

A mortgage charge off does not affect the status of your loan. The charge off simply means the lender has decided the debt is "un-collectable." The lender reports it as a loss on its financial report for the quarter. In most cases, the lender will send the account to a collections agency. The agency will be the one handling your loan from this point forward, but you still owe the debt.

Second...

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