Should I give the 16% collateral for a $5000 personal loan at 7.5% for 3 years.?
962034
never pay money to get a loan or credit card\nsounds like these online finance companies and they are a  scam \npeople on here are saying they don't even get their loan
540913
If it's an unsecured personal loan, you don't have to tell the lender what you're using it for... they'll check to make sure you can handle the debt, but they don't need to know what you're using it for.\n\nThat said, a loan "just in case" is NOT SMART.  Borrowing money and not using it for something is wasting the money. Instead, set aside what you'd pay on that loan (figure 8% on 10,000 on a 5 year loan, that's 202.76 per month).  If you can afford the loan, you can afford to set that aside.  At the end of the first year, you've saved $738 in interest on that loan alone.. in two years $1336.. better in your pocket than the banks.)
102899
Dear Bob, \nThe investment to finance your education will cost you $7500 per year.  When you graduate in 5 years, assuming you have deferred all loan payments, you will owe approximately $47,500.  This may seem like a lot of money now, but consider the improvement in your future earnings after you get your college degree.  If you begin working now at a salary of $19000, after 5 years of 3% annual raises, your salary would be about $22000.  The job you get out of college will pay at least $25000.  If we amortize your loan payments over 20 years at 8%, you will have to pay about $400 per month.  This may be a struggle at first, but you can expect bigger raises (5%) per year with a college degree.  After 3 years, your income will be almost $29000 if you go to college compared to $24000 if you start working now.  This is enough to completely cover the loan payments, especially when you consider that the interest payments on student loans are tax deductible.  Beyond the third year, your salary with a degree will continue to rise faster than if you skip college.  It makes sense not only from a financial perspective, but also in the fact that you are more likely to find more interesting and challenging work with better career advancement opportunities if you get your degree.  Good luck!
914012
Having a good credit score does not mean that you will get a good intrest rate. Other factors apply...income, work history, debt-to-income ratio, and what bank is doing the financing. You can expect anything from 9% to 15%. The term is usually fixed at 60 months, although I would opt for a lesser term if you can afford the payments. That will usually lower the percentage rate and will save you lots of money. On a 5 year loan at 9%, the payment for $20,000 is $415.17 and at 12% the payment is $444.89
315536
I'm at Countrywide on a 5/1 arm at 5.125, but your loan is only as good as your loan officer.  Gotta listen to what your needs are and then everyone offers similar stuff - then it's how you qualify! good stuff!  I've been doing this for years.
834889
Depending on how long you have had the loan I would say probably never. This because most lenders calculate the interest portion of you payment using the rule of 78's. Simply put this means that most of your payments in the first year are going to interest not to principle.  Ask the lender what the payoff number is and you should be able to determine how they have treated yor loan.
711984
5-7 years, however the impact is less as time goes by.  Close to the 5-7 years period they will call you to settle on a smaller amount because they know it will drop of your report.\n\nAt this point you probably won't be paying the original loaner. Companies buy this bad debt for pennies on the dollar.  Say you had a bad debt for 1000.00  They buy it from the original loaner for 50.00 and try to get you to settle for 500.00.  450 profit for them.  They will attempt to make you feel guilty and tell you what how they are being helpful by letting you only pay 500.00  They can be nasty.
672549
It sounds fishy.  If you are consolidating and paying for 3 years, it sounds like the deal he offered is that you pay for those 3 years and you are back owing what you owe today, the amount of what you owe.  Why would anyone in their right mind do that?  Maybe because it makes for lower payments today and for the next 3 years, but you'd be much better off taking out a personal loan from a bank and paying off your cards and then paying back the bank and not running up your cards again.
1077606
If you pay on 07/01/06, ie loan term 1 year and 3months, the interest  should be $475.46. \n\nBut hope the person who calculates it agrees with the three above.
148202
1- You are looking at a rate of 6.25% in IL. I ran it through Provident Funding as a 30yr fixed, full doc, 80% LTV/CLTV, second home, $288,000 loan amount, with a 21 day lock period. This assumes all the information you supplied is accurate, and that your DTI (debt to income) does not go above 50%.\n\nThat is a rate that the mortgage company would be ok with selling you. If you are being quoted higher than that, then feel free to talk to me and I will let you know if you are getting a fair deal or not.\n\n2- Your Mortgage company can usually get you at least as good of rates as your local bank, unles you typically carry a very high ballance with them. You would be surprised ... you Mortgage Company is propbably signed up with your bank to do loan through their wholesale side, as opposed to your retail rates they would offer you direct.\n\n3- When a good time to go through with it is completely up to you. If you are in a situation where you can offord it, and are comfortable with it, then do it now. No one can make that decision but you.
277626
It may be a good idea if you are having a hard time making payments on high-interest debt.  However if you are making the payments OK, you may actually be hurting yourself.\n\nIf one or two of your debts will be paid in 6 months to a year, you will have that extra payment available to do what you want very soon.  If you refinance, for 5 years, you might have a lower combined payment but you will be stuck with it for 5 years where you might have had a lower total payment if you had left things alone for just a few months and paid off a couple of your debts.\n\nIf you have a home and can get a home equity loan, you can take the interest off on your taxes but it also costs money to get that loan so it may be a wash.\n\nJust some things to consider.\n\nOne more thing, if you have a bank you do business with regularly, I would use that one to refinance.  You can also check www.bankrate.com.  That website can give you information about what banks are reputable and operate in your area.
333148
Don't forget the tax man. He will charge 25% interest plus penalties. You can't imagine how quickly your obligation can triple or double at those rates.\n\nLike me, a lot of people who lose their business or get busted or whatever, and can't pay at tax time are in a unique situation. They know you can't pay, so why try to ssqueeze blood out of a rock?\n\nOffer them a contract called "Offer in Compromise," and offer to pay 10% of your obligation. They will send you a bunch of financial forms, but it's easy to show your outgoing is more than your incoming. \n\nIf they think they can get their money inside of five years, they may not take your offer. Think of creative ways to prolong your "mess."
369088
If you got 3% interest annually it would be at $572.18 now.\n\nI get 3% on savings at my credit union, bank rates will be lower.
128678
This may sound stupid cause i have no clue as what you should do.But at the same time i just had a conversation with an attorney friend the other day and he had a condo out there and sold it to someone and a year later that someone sold it for triple the amount..\nSo keep it cause in the long run it will pay off..
1064299
I agree with Realestatelawyer on this one.  There would be a clause in your mortgage that would not allow it to go any higher than 9.875%.  As far ARMS being dangerous????  That is just not true.  They are only dangerous for the dumb witted person that has no idea what they have gotten themselves into.  Use them right and they will be your best friends.\n\nI would ride out the 5.875%.  Maybe add some extra payments onto the mortgage this year as well.  I doubt that rates with be anything like they were in the next two years, but we never know what could happen.\n\nGood luck with that.  If you still are considering refinancing, feel free to contact me and I could help you out with that.  You can contact me at timothy.kazee@americanhm .com.  Have a great night!
1152638
here is a link for a calculator\nhttp://mortgages.interest.com/content/calculators/discount.asp\n\nit depends on how long you want to keep the property. \nlet's say for $500,000 loan @ 6.5% your interest payment is $2708.. if you want to "buy it down" to 6.00% and pay 1 point.. then, your interest payment @6% would be $2500... and it would cost you $5,000... it means it will take you 5000/(2708-2500)= 24 months to recoup the point.. so, paying this points will make sense if you will keep the loan for 24+ months
90176
compound interest would make it roughly $26153.57 / month.  Of course I'd like to point out that rate would be illegal and I think you can do far better than that irl.\n\nThe total cost of this loan is more than 3x the original amount.