what does it mean when you have an account(mortgage) that is closed-end?
918412
It can mean a few things:\n\n1. You cannot pay off your mortgage early. Or\n2.  No more debt will be issued against your mortgage (equity line or an additional one won't be given to you)\n\n\nCall your bank holding your mortgage and have them explain it to you asap.
191373
What do you mean remortgage? Are you refinancing?\nLiving next door has nothing to do with it, it's a matter of credit.
331294
Typically it means "interim" financial until more permanent debt can be arranged ---generally there is a permanent lender ready to lend but their may be a timing issue or some conditions to be met before the permanent lender can fund -- the borrower then seeks out a bridge loan (typically at a higher rate) until she/he can close on the permanent financning
774764
Daizy, \nIt looks to me that what you're saying is this...\n... you refinanced your house and had been given a good faith estimate that at first looked ok to you.  Around closing time, the payment was much higher than you expected.  Probably the interest rate was higher than what the loan officer first calculated.  To get the payment to a point that would "satisfy" you at the closing table, the loan officer reduced the escrow account significantly - resulting in your current shortage.\n\nIf that's it, the words you're looking for are "PREDATORY LENDING".  Contact your state's agency that regulates lenders.  If you're in Texas, call 1-877-276-5550 to file a complaint.  The FBI is also getting after these people.  Call their local office. \n\nI'm proud of you for trying to find the solution to this problem.  Don't give up.\n\nRichard
858829
do not operate your account like this. if you want to continue with your account in the future, maintain the minimum balance. or else write a letter to the bank that you want to close the account. otherwise bank will be putting some charges for not maintaining the minimum balance.
722317
This is when you purchase property without any deposit. Hence the 'no money down'. You would pay it off instalments as usual
184656
When you took out the loans you probably signed something stating that if you do not pay this loan by this date, you give authorization to withdraw the funds out of your checking account automatically. You should read the disclosures that company has. As for your bank, they can not do anything because you gave authorization for that withdraw when you gave them your account number.
1060518
you should call your bank that issues your checks immediately if you haven't already done so... They will close your account and you won't be held responsible for those checks.
554086
It's when a company automatically takes money out of your account for something you have purchased or something you owe. It can be sone electronically now...it used to be done by their company's paper draft being sent to the bank  to draw on your account.
260212
Contrary to logic, it's not always best to close old, unused accounts.  It can make the overall credit rating worse.  Check out the linked article below.  It explains how closing those accounts will affect a credit rating.
225301
If you didn't sign the final closing documents and were not married to him then there is nothing you can be held responsible for.\n\nEven if you filled out some of the first applications you would have needed to sign at closing. Even if you intentionwas to be with him and pay it off together, your intentions at that time do not hold you accountable legally if you didn't sign your name.
314569
Most builders will require some sort of deposit to act as suretyi.e so you don't change your mind. Then they will require you to apply for an "end loan" which starts when the property is completed. The builder carries a construction loan which is usually an interest only loan and when the hse is done, the property is conveyed to the buyer and the buyer starts paying on the end loan. Payments ususally start 30-45 days after the loan closes.
446479
An installment loan or account is what is known as a closed ended loan. The opposite of that would be an open end such as a credit card. With a credit card you pay a percentage of that loan each month and can continue to re-borrow back on it. With an installment loan or closed ended loan you have equal monthly payments over a certain period of time generally at a fixed rate. You, however, cannot re-borrow from this loan. In order to get more money you have to refinance it. Basically do a new loan. Good examples of Installment loans are mortgages, car loans etc...
102803
Foreclosure is the legal proceeding in which a bank or other secured creditor sells or repossesses a parcel of real property (immovable property) due to the owner's failure to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, it is typically said that "the lender has foreclosed its mortgage or lien."
800387
This is because the accounts still fall within a 7 year history. The key on the report is the "date of last activity" which is the actual date that counts. Regardsless of account status, there is a monthly submission from each creditor as to the standing of the account in reference.\n\nI write a blog on the subject of credit management, mortgages, real estate trends, etc. Check it out for more information that may be helpful.
1147107
Ordinarily, the open account would be better.  Closing an account puts a little ding in your credit score.  On the other hand, if you have too much available credit and you try to get a major loan, they may see that as a negative.
48989
Move your money into your checking account and then write a check for the full amount in the account. Beyond that you really don't have to do anything if you don't want to. You could send them a letter after the fact informing them that your account is now closed. It's your money and you are the boss of it. Good Luck in your maybe move.