tag:blogger.com,1999:blog-92872882011-12-01T17:25:28.877-08:00Ranjanahttp://www.blogger.com/profile/09497604416718052843noreply@blogger.comBlogger161100tag:blogger.com,1999:blog-9287288.post-1114157019412883642005-04-22T00:56:00.000-07:002005-04-22T01:04:09.596-07:00

IIR - Installment to Income Ratio (IIR) is a term commonly used by banks to calculate your loan eligibility. There is a limit on IIR that a person can afford and this calculation varies from one bank to another. The parameters for IIR calculation are your actual salary details, qualifications, employer/business, years of experience, growth prospects, alternative employment prospects and sources

Ranjanahttp://www.blogger.com/profile/09497604416718052843noreply@blogger.com92tag:blogger.com,1999:blog-9287288.post-1112330603859293362005-03-31T20:38:00.000-08:002005-03-31T20:44:52.563-08:00

A home equity loan can be an overdraft loan that is ideal for funding business needs. It is normally available against the security of residential properties only, but can be made available for commercial properties as well (This differs from country to country) .

Ranjanahttp://www.blogger.com/profile/09497604416718052843noreply@blogger.com43tag:blogger.com,1999:blog-9287288.post-1110778028860460192005-03-13T21:24:00.000-08:002005-03-13T21:27:08.863-08:00

Home loan interest rates have increased in the past. Many borrowers are insisting on signing fixed rate contracts, so that they can insure themselves against any increase in interest rates in the future.If they have called right and the interest rates do rise more than the higher interest rates they have agreed to pay on a fixed rate loan, they will gain significantly. The only problem with this

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Remember all rates are negotiable. Check around in the market before finalizing your lender.Unless loan amount is a constraint, approach prospective lenders only after the property is finalized and disbursement is required in the next few days. Most lenders are interested in disbursements and reserve their best rates only for immediate disbursement cases.

Ranjanahttp://www.blogger.com/profile/09497604416718052843noreply@blogger.com6tag:blogger.com,1999:blog-9287288.post-1109332891635021032005-02-25T04:00:00.000-08:002005-02-25T04:01:31.663-08:00

This is helpful for people who retire from their occupations with very little savings except the possession of their own house. The householders need the house to live in and yet at the same time need money to sustain them during their retirement years. A reverse mortgage addresses these issues. Here, unlike regular home loans, the loan is disbursed over the years and the repayment along with the

Ranjanahttp://www.blogger.com/profile/09497604416718052843noreply@blogger.com23tag:blogger.com,1999:blog-9287288.post-1109052876636614002005-02-21T21:48:00.000-08:002005-02-21T22:14:36.636-08:00

As the name suggests, the interest rate in these loans remains constant throughout the tenure of the loan. These loans are normally priced higher than variable rate loans for a similar tenure.As a variation, some banks offer a resettable fixed rate loan under which the rate remians fixed for a particular period (say three years) and is then reset every three years. The interest rate on such

Ranjanahttp://www.blogger.com/profile/09497604416718052843noreply@blogger.com7tag:blogger.com,1999:blog-9287288.post-1108458451491419072005-02-15T01:03:00.000-08:002005-02-15T01:07:31.493-08:00

Some banks penalize customers about 1-3 per cent of their outstanding principal amount for paying off the loan earlier than the tenure period. Most home loan consumers say that banks should give them a discount for repaying early, rather than charge them. However, there is a rationale behind this. (Will discuss this in detail)

Ranjanahttp://www.blogger.com/profile/09497604416718052843noreply@blogger.com14tag:blogger.com,1999:blog-9287288.post-1107762968535320042005-02-06T23:53:00.000-08:002005-02-06T23:58:53.023-08:00

Debtors often believe that priorities must be decided on the basis of the amount owed, or that any debt that is subject to a court order should be a priority. But the existence of a court judgement does not automatically accord priority status to a debt and there are millions of judgements given by courts. These debts would become a priority if the enforcement methods open to a creditor through a

Ranjanahttp://www.blogger.com/profile/09497604416718052843noreply@blogger.com7tag:blogger.com,1999:blog-9287288.post-1106814242410975212005-01-27T01:18:00.000-08:002005-01-27T01:32:36.270-08:00

This is a way of expressing the changes that will be added to a loan, which include not just interest but also setting- up charges, agent's or survey fees and other associated costs. These are all added to the interest payable and then distributed across the period of the loan to give customers a standardised cost for a loan which they can compare with that charged by other lenders. Costs which

Ranjanahttp://www.blogger.com/profile/09497604416718052843noreply@blogger.com11tag:blogger.com,1999:blog-9287288.post-1106630366955086892005-01-24T21:14:00.000-08:002005-01-27T01:37:47.746-08:00

Negative equity occurs when the value of a debtor's property falls below the amount due under his/her mortgage or other loans secured on it. This means that, even if his/her property were sold, the debtor would not be free of debt and would still owe an amount (the negative equity) to the creditor. Find more blogs at blogwise

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The Annual Percentage Rate (APR), is the most important thing to consider when comparing different loans. Generally, the lower the APR, the lower the cost of your loan. When comparing the APR's between loans, please make sure that the other terms and conditions of the loans are the same. For more information check out - http://www.home-equity-loans-centre.com

Ranjanahttp://www.blogger.com/profile/09497604416718052843noreply@blogger.com3tag:blogger.com,1999:blog-9287288.post-1103786514570050732004-12-22T23:19:00.000-08:002004-12-22T23:21:54.570-08:00

A balloon payment is a lump sum payment. A balloon payment comes into being if you take a home equity line of credit and you have made partial payments on the amount due. When your home equity line of credit expires, you owe a 'balloon' payment to clear the outstanding balance. A balloon payment may run into thousands of dollars. To make the balloon payment you may have to sell your home or take

Ranjanahttp://www.blogger.com/profile/09497604416718052843noreply@blogger.com42tag:blogger.com,1999:blog-9287288.post-1103010469784205692004-12-13T23:45:00.000-08:002005-01-27T01:28:49.243-08:00

There are various costs involved in maintaining home equity loans. - Firstly, there is a fee for the property appraisal to estimate the value of your home. - Secondly, an application fee which may not be refunded. - Thirdly, there are costs like the attorneys fees, property insurance taxes etc. - Annual membership or participation fee - Transaction fee All these add up to the overall cost of

Ranjanahttp://www.blogger.com/profile/09497604416718052843noreply@blogger.com25tag:blogger.com,1999:blog-9287288.post-1101715077494607292004-11-28T23:48:00.000-08:002004-11-28T23:57:57.496-08:00

The Truth-in-Lending Act requires lenders to disclose the following - The terms and costs of all loan plans (including the APR)The total principal amount being financed.Payment due date, terms and late payment fees.Variable-rate loans, highest rate charged by the lender, calculations and the monthly payments.Total charges.Application fee.Annual service fees.Pre-payment penalties.

Ranjanahttp://www.blogger.com/profile/09497604416718052843noreply@blogger.com11tag:blogger.com,1999:blog-9287288.post-1101362176817402052004-11-24T21:53:00.000-08:002004-11-24T21:56:36.310-08:00

There is a difference between 'Home Equity Loans' and 'Home Eqity Lines of Credit' - A home equity loan is a lump sum amount (one-time) that is paid off over a period of time. The time period is fixed and so is the interest rate . After you receive the lump sum amount from the lender, you cannot borrow any further. A home equity line of credit works differently. You can borrow up to a certain

Ranjanahttp://www.blogger.com/profile/09497604416718052843noreply@blogger.com4tag:blogger.com,1999:blog-9287288.post-1101192721552031492004-11-22T21:54:00.000-08:002005-02-15T01:02:18.126-08:00

There is hardly any doubt that people are looking for the best finances available to buy homes, maintain their homes ....There are so many options today...With careful planning I think one can zero down to the most viable option.A home equity loan allows you to borrow against the equity in your home. Equity is the difference between the amount you owe on your current mortgage and the present

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