HARP stands for the Home Affordable Refinance Program. A HARP loan provides a refinancing option intended for people who are able to stay current on mortgage payments but are in a financially adverse situation with their mortgage as a whole and owe the current value of their home or more.
While it is possible to get a payday loan without a bank account, chances are that more information is needed in order for the lender to verify the applicant's income, says HowStuffWorks. The lender may charge higher fees for applicants who do not have bank accounts.
A conditionally approved loan is a loan approval based on the financial and credit information that an applicant has provided, and it is subject to final verification. Final verification includes employment and income verification, and additional documentation, such as pay stubs, bank statements and utility bills, is required before the loan is completely approved.
In real estate, "qualifying a buyer" refers to a process of determining whether a buyer has sufficient finances to purchase a home, according to the National Association of Realtors. Qualifying a buyer helps the real estate agent know which homes are best to show the buyer. Items that qualify a buyer include credit score, income, debt ratio, down payment funds and mortgage pre-qualification from a bank.
A letter requesting a loan should be clear, provide all necessary information, and be typed using the standard fonts and format style on a computer word processor program, according to AviatekBank.com. Spelling and grammar errors should be avoided to appear as professional as possible, and it should use formal language.
According to Investopedia, a co-applicant is a person who is seeking a loan in addition to the primary applicant. A co-applicant increases the chance for the loan to be approved.
In order to get a loan, an individual must be at least 18. According to CarsDirect, teens under age 18 remain minors, and legal contracts they sign are not binding.
To secure a loan while unemployed, search online for lenders that specialize in high-risk loans and have programs that do not require employment information on their applications. These applications can be completed in minutes. Be prepared to provide your address, Social Security number and bank account information.
The grantor is the seller and the grantee is the buyer. In terms of selling a home, for example, the grantor is either the owner or the company extending the mortgage and the grantee is the person buying the home.
Using a pension plan as collateral, it is possible to take out a loan based on the plan amount, according to the IRS. The amount of the loan may be limited, however, either by statutory regulation or due to the requirements of the plan itself.
While it is possible to get a personal loan from a bank after filing for bankruptcy, the loan most likely comes with high interest fees, says GOBankingRates. Those in need of a smaller loan can also apply for a payday loan, which usually doesn't require a credit check.
One source of quick cash is to borrow money. Start by talking with a bank or credit union about a loan. Other possible ways of getting cash quickly are to consider asking one's employer for an advance of his pay, or to sell or pawn something that is not strictly necessary.
Many lenders allow customers to submit online applications for financial products such as personal loans, auto loans and other types of credit, according to Wells Fargo and Bank of America. In some cases, approval comes online, while in others, banks follow up with a call to gather more information.
The phrase "payday loan consolidation" means that a consumer with multiple loans has the option to combine these into a single one. This is often done by working with a payday loan consolidation company that pays off the consumer's payday loans. The consumer then pays one monthly payment to the payday consolidation company. This practice is very similar to debt consolidation.
According to AccountingTools, common payment terms include one or more of the following components: net, discount and end of month. Payment terms are rules a supplier or seller imposes on a buyer.
An approval letter is any letter written to grant official approval of a request. Approval letters are typically written in response to requests for approval regarding employee days off, business expenses, building projects and financing.
Getting a payday loan without a bank account typically requires an application, proof of income and additional fees, according to HowStuffWorks. Not all payday lenders lend to customers without a bank account, so customers without one are advised to contact lenders in the area to ask about the policy.
A Veterans Affair, or VA, loan entitlement is a basic entitlement of $36,000 that is available to eligible veterans seeking a VA home loan; most lenders will loan up to four times the veteran's entitlement on a home without requiring the veteran to make a down payment. VA loans are still subject to credit and income qualifications and the property being purchased must appraise for the price being asked for it.
A hard money loan is a type of loan that is secured by the value of a property. In most cases, the credit history and score of the borrower is less important than the property's value. These types of loans are not made by traditional lenders.
If a credit user defaults on an unsecured loans, he opens himself up to collectors who have a financial stake in collecting the debt according to Debt.org. Collection agencies are skilled at pressuring people to repay their debts, and some are not above violating consumer rights.
Starting salaries for chemical engineers are among the highest at $66,400 per year, according to Forbes. A study ranked chemical engineers' starting salaries at number two behind computer engineering.