mammothcaverecording.com http://www.mammothcaverecording.com My WordPress Blog Tue, 12 Feb 2019 14:38:25 +0000 en-US hourly 1 https://wordpress.org/?v=5.2 Loan Consolidation Guide http://www.mammothcaverecording.com/loan-consolidation-guide/ http://www.mammothcaverecording.com/loan-consolidation-guide/#respond Sun, 14 Apr 2019 17:14:28 +0000 http://www.mammothcaverecording.com/loan-consolidation-guide/

We explain to you the different stages of the loan consolidation process, the different types of loan consolidation, its benefits and its cost.

What is the purpose of the consolidation of loans?

The consolidation of loans allows to group in one line of loan all of its loans, whether they are for real estate or consumption. It can also integrate a bank overdraft, debts or receivables and a cash envelope to carry out a project. The objective is to make a new loan with a single rate, the duration of which will make it possible to obtain a monthly payment adapted to the repayment capacities of the borrower. This loan replaces all old consumer loans and simplifies the borrower’s budget management.

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Loan consolidation Guide: Types of Projects Funded

As with any type of consumer loan or real estate loan, the consolidation of loans exists in different forms and is possible for different types of projects. The purpose of a loan consolidation being to make a new loan, with a clean rate and monthly payments, therefore, this new loan could very well be a simple consumer loan, a mortgage and loan conso ( in order to consolidate the debts at the same time as to finance the purchase of a real estate), a loan to have a cash envelope, etc …

The possible types of projects with a consolidation of loans are:

  • Purchase of real estate loans
  • Purchase of consumer loan
  • Purchase of real estate and consumer loans
  • Purchase of loans and request for cash
  • Purchase of loans and consolidation of debts
  • consolidation of loans and loan work

Each of these loan buy-backs therefore have their specificities, as well as their own conditions and criteria. Learn more about the types of loan consolidation .

What are the steps of a loan consolidation?

The consolidation of loans follows strict implementation rules. The financial package is more complex than for a simple consumer loan or a mortgage loan. But a consolidation of loans is also prepared before the financing plan. Learn more about the steps of a loan consolidation .

loan consolidation: for which types of profiles?

Whether you are on a fixed-term contract, a liberal professional or retired, there are solutions for the purchase of loans. The setting up of the file of the financing and the file of repurchase of loans will be subjected to certain different criteria according to your professional situation. Learn more about the purchase of loans according to the professional situation .

The cost of a loan consolidation

The cost of buying back loans is subject to different variables and different criteria for granting. These different types of fees may also vary depending on the total amount of the loan (s) to be redeemed and depending on the nature of the new transaction. Learn more about the cost of buying back loans .

The benefits of buying back loans

The consolidation of loans has several advantages: a single monthly payment, recovered cash, avoid a situation of over-indebtedness, enjoy more attractive rates, etc … So many benefits for the financial well-being of your household. Learn more about the benefits of buying back loans .

What are the documents to provide for a purchase of loans?

As with any financing file, various documents must be collected for a purchase of loans. And all of these supporting documents may be different depending on the type of purchase of loans. In addition, if there are two borrowers when buying loans, it will be necessary to provide the documents for each of them. Learn more about supporting documents for a buy back of loans .

Distinctions of the consolidation of loans

Depending on the nature of the loans to be consolidated, the consolidation of loans can be divided into two broad categories.

  • Consolidation of consumer loans : It is intended for the purchase of consumer loans, revolving loans, debts or receivables, overdrafts and a cash envelope.
  • Consolidation of real estate loans and consumer loans : it is intended for the purchase of one or more real estate loans and may include consumer loans, revolving loans, overdrafts, debts or receivables and a cash flow envelope.

Depending on the category in which the borrower is located, the loans granted may vary in amount, duration and guarantee.

The most frequently asked questions

In terms of consolidation of loans, many questions may arise, other than on its operation or its cost. The Central Financing Office gives you its answers to the most frequently asked questions about the purchase of loans:

After buying back loans, can I take out new loans?

It is entirely possible to subscribe or not to new loans, but you must first check your ability to repay and, if necessary, seek the advice of professionals such as La Centrale de Financement.

What is the age limit for a loan surrender?

loan consolidation has no specific age limit and depends on the lending institutions. In general, the repurchase of loan can be carried out until 75 years. In the case of financing senior profiles, the end date of the contract will also be taken into account, around 85 years maximum.

What is the maximum duration for a loan consolidation?

The maximum duration for the consolidation of loans depends on the type of consolidation. In the context of a consolidation of consumer loan, the maximum duration is 12 years. In the case of secured loans, the repurchase may be up to 25 years and 35 years for a mortgage loan repurchase (within the maximum age limit of the end of the loan).

What is the withdrawal period for a loan surrender?

When the borrower receives the loan offers as part of a mortgage repurchase (minimum of 60% real estate loan in the repurchase of loan), it is protected by the Scrivener law. This means that the loan offers must be returned no earlier than 10 days after receipt, to allow time for reflection to the borrower. If the borrower decides to retract he will owe no fees to the institution. In case the lending institution has already made money available to the borrower before the end of the withdrawal period, the borrower will have to repay them within 30 days with the interest due. When the offer to buy loans is accepted, the borrower has a withdrawal period of 10 days for repurchases of real estate loans and 14 days for the purchase of consumer loans.

Be careful not to confuse the consolidation of loans with   renegotiation of home loan . The first aims to consolidate several loans to control a debt ratio become too high, the second aims to take advantage of preferential rates by reducing the duration of a single mortgage.

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Consolidation despite negative remark http://www.mammothcaverecording.com/consolidation-despite-negative-remark/ http://www.mammothcaverecording.com/consolidation-despite-negative-remark/#respond Sat, 13 Apr 2019 12:39:01 +0000 http://www.mammothcaverecording.com/consolidation-despite-negative-remark/

A negative remark contains at least one negative feature, which indicates a gross breach of contract in financial matters. According to most financial institutions and consumers, remark information is also considered to be negative if the corresponding characteristic is marked as completed, whereas the credit protection company, on the other hand, counts negative characteristics with an endorsement note as neutral data. A debt consolidation is also referred to as a loan repayment and means that existing loans are replaced by a new loan. Clarification at http://hsalliance.org

Reasons and procedure for a consolidation

Reasons and procedure for a consolidation

A consolidation despite negative information remark makes sense, if the new loan leads to significant savings. When calculating the savings potential of the credit release, consumers not only look for interest savings but also deduct any prepayment penalties they may have. A reduction in monthly loan installments is another reason for debt consolidation if the previous lender refuses a requested life extension. Debt consolidation usually replaces all existing loan liabilities, exceptionally favorable loans such as a car loan makes sense.

However, a consolidation despite negative remark is expected that the new lender wants the replacement of all current and from the remark information available existing loans. The money intended for the consolidation despite negative remark immediately transfers the new lender to the existing credit accounts, so that they are compensated. A money transfer to the credit applicant is only for partial amounts, the direct compensation by the consolidation making financial institution is not possible. This mainly affects credit card accounts, as not all issuers allow incoming payments by third parties. For objective reasons, it is also unavoidable to transfer the partial amount for the current account balance to the debtor.

Banks based in Germany are more likely to award a debt loan than a new loan if remark is negative, as this will not increase total debt. However, the prerequisite is that the negative entry belongs to the soft negative features. A renegotiation of the offered interest rate often leads to success. Finally, the applicant is in debt consolidation in the comfortable situation, with unsatisfactory offers simply existing loan agreements can be.

Consolidation loans from Switzerland

If consumers conduct their consolidation despite a negative remark through a bank, existing negative entries are meaningless, since the Swiss financial institutions do not have access to the data records of the German credit protection and complete the lending completely without remark. Thus, the processing of consolidation via a bank is also suitable for existing hard negative entries.

With only a few exceptions, the maximum amount of credit to be applied for directly with the Bank amounts to a maximum of EUR 3500. Therefore, loan repayments must be submitted by a credit institution through a credit intermediary. Thanks to his knowledge of the market, he achieves a fair price for the client and works seriously if he only calculates a reasonable salary and no costs.

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Bank loans: how to choose the best interest http://www.mammothcaverecording.com/bank-loans-how-to-choose-the-best-interest/ http://www.mammothcaverecording.com/bank-loans-how-to-choose-the-best-interest/#respond Fri, 01 Mar 2019 14:42:29 +0000 http://www.mammothcaverecording.com/bank-loans-how-to-choose-the-best-interest/

Bank loans are loans granted by banks to individuals or companies in exchange for the recognition of an interest rate.

Bank loans are loans granted by banks to individuals or companies in exchange for the recognition of an interest rate.

Over the last few decades, banks have developed new financial products to offer their customers, but this type of loan remains an important component with which to consolidate its customers. Loans of this kind fall into the category of personal loans, ie fast loans without a specific purpose: the consumer can then use the amount received as he sees fit. On the contrary, other bank loans, such as mortgages, constrain the resources disbursed to a specific use (in the case of a mortgage, the purchase or restructuring of a property). In general, when money must necessarily be used for a predefined purpose, one speaks of purposeful loans.

So how can choosing a bank loan be convenient? First of all, an analysis of the main characteristics of a loan is needed, those that determine its cost, so as to then be able to compare the various financing offers. The easiest loan cost to identify is the weight of the individual installment : this depends on various factors, from what has been obtained by the bank to the duration of the amortization period, to the frequency of payments, which is usually monthly, but can also be bi-monthly or quarterly.

However, the main cost item to consider is the interest rate . In fact, when a loan is repaid, not only the capital obtained is repaid, but also an additional sum made up of interest. If you want to calculate the rate of a loan, in fact, the main measure of this expense is the TAN, nominal annual rate , which indicates as a percentage how many interests you pay in a year. However, to understand the convenience of a bank loan, the TAN is not enough: it is also necessary to consider the APR, annual percentage rate , which considers all the accessory expenses necessary for the opening and management of the loan.

In fact, the bank, before lending the desired amount, will have to carry out numerous checks, starting from the guarantees presented by the consumer, which can be of various types: from the pay slip that guarantees a stable income to a property to be mortgaged. These checks are part of the expenses, such as the preliminary investigation, which the bank supports before granting the loan. This is why the APR is a more faithful measure of the cost of bank loans.

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Compare loans online: compare financing on the web http://www.mammothcaverecording.com/compare-loans-online-compare-financing-on-the-web/ http://www.mammothcaverecording.com/compare-loans-online-compare-financing-on-the-web/#respond Tue, 12 Feb 2019 14:38:25 +0000 http://www.mammothcaverecording.com/compare-loans-online-compare-financing-on-the-web/

Using the “compare loans” options available on different specialized websites is useful when choosing the right loan for your needs.

Using the "compare loans" options available on different specialized websites is useful when choosing the right loan for your needs.

By now the user has to find out for himself: of course, you can always turn to the trusted bank, looking for a simpler credit solution. However, since the banks themselves and many new financial operators have launched home banking and online financing services, it is easy to get confused among the many offers available on the web, even after a simple search on any search engine.

Fortunately, where the web has complicated, in some ways, the choices of consumers (but offering a freedom that was previously difficult to obtain), but it has soon introduced a solution: the sites you use to compare loans. These are portals that specialize in summarizing information about loans and placing them all together with the attention of the user, who, on a single page, will have more comparable offers available than would be able to collect in a tour of the banks of the his area of ​​residence.

Obviously, these portals filter the information made available to the user on the basis of the data that he will have personally entered into the calculation system: usually, the information requested can be the amount requested and the purpose to be pursued, such as the ‘purchase of a property (it will be a mortgage) or a car, the renovation of the house or the financing of children’s studies, and so on. Moreover, some personal data are required, such as the Municipality of residence, useful for identifying the most comfortable solutions.

How to compare loans? The most important variables to consider are the elements that determine the cost of the loan to be borne by the applicant: first, the interest rate , which can be fixed or variable, but also the accessory costs necessary for obtaining the loan, which sometimes not only explicitly reported. Another element to be compared is the guarantees required (mortgage on a building, signature of a guarantor, pay slip or tax return). Finally, obviously, it is necessary to analyze which financial companies are available to provide the requested amount and with the most convenient repayment methods, for example regarding the periodicity of the installments. 

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