Tag: loan

September 9, 2020

What Is Foreclosure? Foreclosure is the legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of and selling the mortgaged property. Typically, default is triggered when a borrower misses a […]

November 20, 2019

A term loan is a lump sum borrowed from a lender and repaid through regular recurring payments over a predetermined period of time. Interest rates for term loans may be fixed or variable. One example of a term loan is […]

October 4, 2019

Prepayment penalties are fees some lenders charge borrowers who pay off their loans early, refinance, or pay a substantial portion. In 2014, prepayment penalties became restricted from residential loans on owner-occupied property, with some exceptions. Prepayment penalties are sometimes charged […]

September 17, 2019

Business owners need a credit score of 620 or higher to have access to a variety of financing options. 550 is the minimum for even basic financing that’s not cost-prohibitive. Business loans may be available for lower scores, but they’ll […]

August 19, 2019

Starting a business is expensive. Upgrading equipment, expanding to new locations and adding employees is also pricey. No matter where you are in the business life cycle, from startup to growth, a business loan can help get you started or […]

February 2, 2018

If you have an asset, you can probably get a loan against it. Your paycheck, your tax return, your home, your 401(k) and, yes, even your pension if you’re one of the relatively few people who still has one. If […]

April 11, 2017

A hard money loan is a short-term financing option used to fund the purchase of an investment property. Hard money loans are commonly used by real estate investors for fix-and-flip projects, renovations of rental properties, or simply to facilitate the […]