Tag Archives: Loan

Q&A: I want to see if I can get a loan from Prosper to pay off my Payday loans. Is Prosper OK?

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Question by Sunfire03: I want to see if I can get a loan from Prosper to pay off my Payday loans. Is Prosper OK?
I am caught in a Payday loan nightmare. My credit will not allow me to get a personal loan. I was reading about Prosper, person-to-person loan, hoping and praying that someone would help me get out of this pit called Payday loans.

Best answer:

Answer by bdancer222
Well the interest rate at Prosper will be a whole lot less than that payday loan. But you may not get a loan at Prosper either. If your credit is too bad to get a personal loan, people at Prosper may not be willing to take the risk with you.

Instead of looking for another loan, consider other ways to come up with cash. Have a garage sale, sell blood/plasma, collect alum cans, get a second job …

Give your answer to this question below!

Reduce Debt With A Secured Loan For Debt Consolidation

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Many homeowners are struggling to pay their debt, but there are many debt solutions out there. For homeowners a secured debt consolidation loan can be very cost effective and also they could look at a remortgage. Remortgages will replace your existing mortgage and sometimes you may get a better deal than your existing mortgage. To get the best rates your credit history matters.
Finance:Debt-Consolidation Articles from EzineArticles.com

Reduce Accountability By Acknowledging A Single Loan Repayment

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What happens when you miss out on your card payments? They pile up, similar to how a devastating tsunami piles up cars and debris. Debt is similar to a tsunami in anyone’s life, the only difference is we can predict it and get rid of it. So if you see your multiple payments are piling up use a debt relief option like debt settlement for your rescue.
Finance:Debt-Management Articles from EzineArticles.com

Debt Consolidation Loan Consequences – Pros and Cons of Debt Consolidation Loans

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Is a debt consolidation loan right for you? Learn all the debt consolidation loan consequences before you approach any debt consolidation lender. Make sure you’ll be able to pay the consolidation loan otherwise you might lose your home for paying off your bills.
Finance:Debt-Consolidation Articles from EzineArticles.com

Mortgage rates: Average on 15-year fixed loan dips below 4 percent

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Mortgage rates: Average on 15-year fixed loan dips below 4 percent
NEW YORK — Fixed mortgage rates tumbled this week and the 15-year loan dipped below 4 percent for the first time in three months.
Read more on San Jose Mercury News

Mortgage rates: Average on 15-year fixed loan dips below 4 percent
NEW YORK — Fixed mortgage rates tumbled this week and the 15-year loan dipped below 4 percent for the first time in three months. Rates followed the yield on U.S. Treasury bonds, which fell on worries that the crisis in Japan could slow economic growth.
Read more on Walnut Creek Journal

Using a Financial calculator, How do I find the initial loan value?

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Question by TeChen H: Using a Financial calculator, How do I find the initial loan value?
I have a Financial calculator
I know Monthly Payment
I know Interest Rate
I know Term (eg. 30yr)
I would like to find out How Much did I borrowed in the beginning?

How do you input all those value onto a Financial calculator?
Please provide steps, thanks

Best answer:

Answer by Rev Bob Swindal
If it is an HP12c type financial calculator,
Enter the periodic payment as PMT
Enter the annual interest as i (or monthly interest i/12)
Enter the term in years as n (or term in months as n*12)
Hit the PV (present value) key

Worked example:
i = 5.5% per annum
n = 30 years
PMT = $ 500/month or $ 6000/year
PV = $ 87202.47

Hope this helps.

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Q&A: Is there an online calculator that will determine loan balance remaining after each random-amount payment?

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Question by Louisiana Man: Is there an online calculator that will determine loan balance remaining after each random-amount payment?
I am owner financing a real estate sale for 15 years at a fixed interest rate with a required minimum monthly payment of $ 1,400. The buyer wants to occasionally make larger monthly payments (of variable amounts) and pay it off sooner. Is there an online calculator that will determine balance remaining after each random-amount payment?

Best answer:

Answer by s_uperdave
yes. but if you do ot know what exart you will be putting it is hard to find it out. but I do have one on my website. www.superdavemortgage.com

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what is a loan calculator?

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Question by c p 9: what is a loan calculator?
While looking at the internet i saw the word loan calculator .what it is? what is it use for?

Best answer:

Answer by kang1972ad
A loan calculator is a calculator that work out how much you have to pay every month for the entire term of the loan.

Some loan calculator also provide you with a breakdown of how much goes to pay off the bank intererest and how much goes to pay the principal amount.

Know better? Leave your own answer in the comments!