April 18, 2019

All about loan consolidation

    What is the consolidation of loan (or pooling of loans)? Also called loan consolidation, the repurchase of loan consists of repurchasing one or more loans in progress, contracted from one or more lending institutions, in order to benefit from better repayment terms. By obtaining a single loan, you then pay only one monthly payment. An editorial over at http://whistlestopdepot.com/personal-loan-simulation-to-find-a-competitive-rate/ oan consolidation (or pooling of loans) is a personalized financial solution that allows you to review, improve and simplify the management of your budget. It gives you new leeway in your daily life and in your loans. When does a loan consolidation (or pooling of loans) take place ?…

March 26, 2019

Cross-collateral loan: how does it work?

Imagine a scenario where you are ready to sell your car that you now own, freely and clearly, only to be heard by your lender that you cannot sell it until you have repaid another non-guaranteed loan with the same lender. In essence, you are told by the lender that you are not paying for your car and the title is still owned by the lender. This is the result of an obscure clause, called cross-collateralization, used by lenders in certain lending situations. You may not be aware of it unless you have carefully dissected your contract to have it buried deep in the fine print. Even if it was…

March 19, 2019

Mortgage Loans with Variable Rate

When taking out a variable rate mortgage loan or borrowing a loan, it is important to consider some important factors and decide what you want. It should also be noted that there are only short terms, no more than twelve months. If you want to make partial repayments or full repayments and the interest rate level tends to go down, then a decision on the variable interest rate is extremely positive over the fixed rate. Define the interest rate to be calculated with the bank before concluding the mortgage loan. However, there are always different points to consider.   Which type of interest is suitable for whom? The most important…

March 4, 2019

How to set up a loan agreement

The Civil Code regulates in paragraphs 488 and following the legal basis for a loan agreement and its contents. Such a contract is concluded when the lender undertakes to make available to the lender a sum of money of a certain amount. Contracts involving a private loan must be in writing. The written form is also satisfied if the contracting parties declare the request and the acceptance separately in writing. A loan agreement must first comply with the following formal requirements: ► The amount of the loan must be stated as a net amount, ie without the interest to be paid by the borrower and any discount. ► In addition…

February 25, 2019

How to calculate financial costs on a new car loan

There are many people who want to buy a new car, but probably don’t know if the car is within their capabilities. Before you act impulsively or be tempted, consider all the financial information. Although the suggestion of monthly payments is a good option to start your analysis, you should also consider the financial cost (interest) you pay during the loan period. The interest is the real cost for the money you lend for the duration of the loan. steps Method 1 Calculate the monthly payment of a car loan   1 Investigate the interest rates you can offer to get a car loan and choose one that fits your…