Is interest on a mobile home loan tax deductible?
You can deduct interest on any loan for a qualified home, and a mobile home loan will meet these terms in most cases. You must be using the home as your primary residence or earning income off its use...
View ArticleWhat is the best way to refinance your mobile home loan ?
It is least expensive to refinance a mobile home loan directly with your original lender. When you refinance directly, the original lender is less likely to charge refinancing, prepayment or other...
View ArticleWhat is a store charge card?
A store charge card is a private label charge card issued through a retail outlet. Retail establishments will often offer incentives to entice individuals to sign up for this type of account. Once you...
View ArticleCan you get a store charge card with bad credit?
If you are interested in getting a store charge card, you might be concerned that you will not qualify because of your bad credit history. If this is the case, you do have some legitimate concerns....
View Article4 Disadvantages of a Student Charge Card
A student charge card is often necessary to make ongoing purchases while you are in school and not earning an income. For example, many students must place expenses like books and meal plans on a...
View ArticleWhich student charge card should you select?
You should select a student charge card that is specifically designed for an individual in your position. Many banks advertise cards for students, and these often offer the best features. These banks...
View ArticleWhat Is a Conduit Loan?
Conduit loans were first developed as a way to assist banks in selling their loan contracts on the bond market. Prior to banks' initiating this type of sale, money that was lent out would earn only...
View ArticleWhat are the drawbacks of conduit loans?
Conduit loans are risky for all parties involved, including the borrower, the lender and the investor. The borrower receives a low interest rate on the loan but forfeits flexibility. He or she cannot...
View ArticleWhat are the advantages of conduit loans?
The advantages of conduit loans are unique for each player involved. A borrower can lock in a low interest rate, often lower than market standards, in exchange for accepting a less flexible mortgage....
View ArticleHow do you qualify for a conduit loan?
Qualifying for a conduit loan is not particularly different from qualifying for a traditional mortgage. You will have to qualify based on income, credit and other factors. The key difference is the...
View ArticleCollateral Loans: Title Loans
If you want to use a vehicle that you own free and clear to obtain a loan, there are some risks involved regarding collateral loans that you should consider carefully before you decide to use this...
View ArticleWhat Is Zombie Debt?
Zombie debt gets its name from the popular movie villains; it is debt that has come back to life, just like a zombie. Typically, the debt comes back to existence because it has been handed to a...
View ArticleHow do you fight zombie debt?
The best way to fight zombie debt is to ensure the collections agent or lender has a right to collect. By definition, zombie debt has been "dead" for a long time, maybe even years. This could render...
View ArticleHow does zombie debt affect your credit?
The moment a collections agent picks up your old zombie debt and brings it back to life, the agent will begin to threaten your credit. Since the debt may be months or years old, the agent can mark you...
View ArticleWhat Is a Portfolio Loan?
A portfolio loan is held permanently by the lending institution that extends it. Since the loan is never sold on the secondary market, it does not need to be investment grade. This affects the loan...
View ArticleHow do you qualify for a portfolio loan?
Qualifying for a portfolio loan is easier than qualifying for most standard loans. These loans do not need to meet the conforming standards of institutions like Fannie Mae and Freddy Mac since the...
View ArticleWhat Is a Loan Workout Plan?
A loan workout plan presents the borrower with an opportunity to repay a debt and avoid default. Loan workouts are an option once a borrower has decided he or she cannot repay the debt according to...
View ArticleWhat are the advantages of a loan workout plan?
The advantages to a loan workout plan will be divided between a lender and a borrower. For the borrower, there is a chance to avoid default on the loan by creating a voluntary repayment agreement with...
View ArticleWhat Is Simple Interest?
Simple interest is the most basic form of financing charge a lender can issue. With simple interest, a flat percentage fee is added to the loan principal. This fee is divided up among all the payment...
View ArticleWhat is a simple interest loan?
A simple interest loan assesses fees based only on a flat percentage. The principal amount is multiplied by an interest rate, and the resulting sum is the only interest charged on the loan. This...
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