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What Is a Bank Loan? | Sapling.com
A bank loan is an arrangement in which a bank gives you money that you repay with interest. Loans are distinct from revolving credit accounts, such as credit cards or home equity lines of credit, which allow you to continually borrow and repay up to a certain amount.
Terms of a Typical Bank Loan
Any loan you get from a bank will require you to sign a contract, called a loan agreement , promising...
What Is a Home Title Loan? | Sapling.com
You turn over title to the mobile home or other property when you take out the loan, then recover the title if you pay the loan back.
Pros and Cons
Title loans offer advantages to borrowers who have bad credit scores or haven't had time to establish much of a credit history. Transferring title gives the lender collateral, so your credit problems aren't a huge concern. Although the lender has...
How to Buy a Foreclosed Home or Auctioned Property ...
You can buy a foreclosed home before, during or after an auction.
Preparing to Buy
You'll need to make certain preparations if you want to buy a foreclosed property, including:
Identifying available properties: You can check an online multiple listing service, or MLS, for homes in the pre-auction stage of foreclosure, homes about to be auctioned or homes for sale directly from the lender. An MLS...
How to Write a Standard Application Letter for a Personal Loan
If the lender is requesting a standard application letter for your personal loan, he or she wants to know exactly what the loan will be used for. Lenders also want to be sure that the bank's money will not be used to illegitimate or illegal purposes. The purpose should be the first part of your letter--stating exactly how much the goods or services you require will cost. Be specific in your language and make sure to account for each dollar of your personal loan.
In your standard application letter, be sure to include when you expect to pay the loan off. The lender wants you to commit to a date on which the loan will be...