Can my parents pay interest only for the PLUS loan?
828295
You  can't do it with the plus loan, but you could refinance with a private load that allows it.  I don't recommend it though.  Paying interest only you will never get the loan paid off, and the difference in the payment would not be that much since at the begining, the largest part of your payment is interest.
365920
If the loan is an interest only loan you don't have to refinance. If it is a balloon you do have to refinance.  An interest only loan should only be used to purchase either a larger home than the one affordable using a conventional loan (if you plan on keeping it) or a home that you plan on selling it before the I/O term selected expires (very useful in hot markets where properties appreciate a lot in 5-7 yrs). But if the house is not in a hot market and you expect to live it forever then you should go with a conventional loan. As to what happens to the interest paid, you can deduct it from your taxes if your state allows for such a deduction.  Another good use for an I/O loan is when interest rates are high and you plan on refinancing when these come down.
497892
Generally speaking, the debt of parents do not pass on to you.  However, if you inherited the house through the intestate succession, then you would assume the debt ... mortgage and perhpas make a lump sum payment or make an arrangement with the creditor.
881701
they can garnish the entire 4000 plus interest.  the period of time over which they can garnish it will depend on how much you earn, dependents, etc.
98349
ANY INTEREST AND ANY PROPERTY TAX THAT MIGHT BE INCLUDED IN THE PAYMENT
975864
No.  The other way around.  This is the balance owed that DOESN'T include interest. \n\nLet's take an example.  \n\nIf you borrow $100,000 at 10% with no annual payments due and interest calculated using annual compounding.  \n\nIn year 0, the principle owed is $100,000.  \n\nIn year 1, if you don't pay any money then the principle owed is $100,000 and $10,000 interest for a total of $110,000 owed.\n\nIn year 2, at the end of the year you would owe $121,000 comprised of $100,000 principle and $21,000 in interest ($10,000 from last year and 10% on $110,000).\n\nIn year 3, if you paid off $50,000, you would have racked up another $12,100 in interest.  This would mean that your $50,000 would have paid off $33,100 ($10,000+$11,000+$12,100) and the remaining $16,900 would have gone to principle.  You would then owe $83,100 in principle.
767606
No taxes are due, since it's a loan and you have to pay it back.  The people who said the interest you pay is deductible are not correct, unless the loan is set up as a mortgage.  Personal interest is not deductible.  The interest income does have to be claimed, though, by the person who made the loan and collects the interest.
1061516
In charges and interest, you will pay about $60 per month, without even repaying the loan itself.  The monthly charge and interest would equal an actual interest rate of about 64%.\n\nFederal and state laws prohibit these ridiculously high interest rates; however, you've found a company that gets around it by charging a monthly fee.\n\nIt is an absurd deal.  A loan shark has more conscience than to charge you this kind of rate.
165504
No......The only interest payments which are deductable are Mortgage types of interests and Home equity interests
900883
You are correct; \n\nIf you borrow ₤1500 at the interest of 14%\n\nYou will be paying back ₤1710 as the interest is ₤210 (value of 14% of ₤1,500)\n\nYou will be paying the Principal (₤1,500) plus the interest (₤210)\ngiving you a total of ₤1710.\n\nYou are not stupid, no one knows it all.
1010643
Of course one possibility would be to talk to your parents -- not to ask them for "money" but to ask them for a loan.  Negotiate a reasonable interest rate and a schedule of monthly payments (possibly beginning once you have your feet back on the ground) and stick to them come hell or high water.  You will be able to demonstrate responsibility, and your parents will get something out of the deal too.  (If they're cool, they should give you the interest payments back once the loan is repaid to reward your diligence.)\n\nIt sounds like you need to renegotiate your banking relationship also.  Speak to a manager and see if there are other products with lower fees.  Get rid of the automatic debits from your account, because you'll keep getting slammed if you don't have enough cash on hand.  If you have good credit, you might want to open up an account with a 0% introductory APR to give you an interest-free loan while you're sorting things out -- use this carefully, otherwise you'll end up in even worse debt.\n\nOne last thought for immediate cash would be to sell some of your stuff online.  Periodically going through your old books, DVDs, clothes, etc. can be healthy because it forces you to think about what you REALLY need.  And you should be able to sell a few items pretty quickly, since there's always someone out there looking to buy secondhand stuff.\n\nGood luck!
149317
There really are no calculations because they are not charging you ANY interest at all (probably for a certain amount of time only, right?) You will only be paying the Principle during that time, which means you are making a payment that actually reduces the total cost by the exact amount you pay.  WHen interest begins accruing, then each payment you make will be partially going to the product cost (prinicple) and partially to the interest cost (the creditor's profit for lending the money).  There is no better interest rate than 0%.  So, good going!
80604
No you have to pay full balance with interest at least here in the state of Ohio.
37632
I would have suggested you to approach your parents. But I feel they should not be penalized for your debt which is your own creation .   Better you earn the money yourself and pay off the debt .  May be instead of two months you will take couple of months more .   This way you understand the value of money .   More importantly this will avoid further reckless spending which should have been the cause of borrowing .   Finally and it is more important , it will protect your self respect .
761763
From what I understand generally about estate law, your parents' debts should not roll over to you and your siblings when they pass away. However, if you or your siblings are co-owners or partners with your parents in any business enterprise or are gurantors to any loans taken by your parents, then yes, you may become liable to their debts when they pass away.\n\nIn short, you will not be liable for their liabilities unless you are somehow a party to the liability to begin with.
171648
As an expert in Interest only loans; I think they are a good way to get "more bang for your buck".  As long as you are in a market that will continue to appreciate, you have nothing to lose and more to gain.  \n\nI don't think that there is a special circumstance that would permit you to get an interest only loan, because it's been my experience that no one ever has too much money.  However, it IS more beneficial for someone who wants to stay in their home for a period exceeding 7 years; that time period will be the most beneficial to someone with an interest only loan.
238429
Go to a paycheck advance place.  You'll end up paying a lot in interest - but chances are no one here will lend it to you.  And, if they do, they are insane.  Or ask your parents.