Personal Finance « equity loan payments

March 19, 2011

How do I calculate my loan payments using simple or compound interest?

n j asked:

I borrowed money from grandfather this past semester for college tuition. It is now time to start paying back on the loan. For the next three years, my grandfather wants me to pay the interest that accumulates on the loan every 6 months. The interest rate is 5.5% , and I am not sure if this is supposed to be calculated with simple or compound interest. The amount of the loan is $4,000.00. I was wondering if anyone could help me calculate my payments in terms of both simple and compound interest? Thank you

Allen

Comments (1)

February 15, 2011

How can I lower my monthly student loan payments?

Filed under: Personal Finance — Tags: College Loans, Consolidate Loans, Interest Rates, Job, Monthly Payments, Sallie Mae, Student Loan Payments, Student Loans — @ 12:31 pm

mathwhiz454 asked:

I had to pay for all 4 years of college using student loans, and now I’m paying them back @ $700/month.

Obviously, I want this payment reduced, especially while I try to find a better job than the one I got right out of college.

They’re all from Sallie Mae, but they’re multiple loans. Can I consolidate multiple loans from the same company? They all have separate interest rates.

Is there anything else that I can do to lower my monthly student loan payments?

Allan

Comments (1)

December 10, 2010

Can flexible spending accounts be used to make loan payments for services rendered before you signed up?

Filed under: Personal Finance — Tags: Flexible Spending Account, Flexible Spending Accounts, Fsa, Loan Payments, New Job — @ 5:47 am

OK asked:

I got a special medical loan in February, then in July I signed up for a flexible spending account at my new job. I am still making payments on the loan. Can I get reimbursed for them, even though the services were provided before I signed up for the FSA?

Jessica

Comments (3)

October 23, 2010

I own land in Orange County NY I want to use the value of the land to get a Equity Loan is that possible?

Filed under: Personal Finance — Tags: Equity Loan, Land Loan, Mobile Home, Orange County — @ 2:51 pm

Henry O asked:

there’s a mobile home on the property & I want to build a new home..

Lorraine

Comments (2)

October 20, 2010

Home Equity Loan with a FICO of 530?

Filed under: Personal Finance — Tags: Bad Credit, Credit Score, Fico, Home Equity Loan, Interest Rate, Money, Mortgage Payment, Point In Time — @ 5:23 pm

Kennyb asked:

I have less than 15% equity in my home and need to consolidate some bills. My FICO is right at 530 and I have one late mortgage payment about 3 months ago. The amount I need is about 10% equity in my home, but can’t find a lender willing to let me have the money with such a low score. At this point in time, the interest rate is not as important as getting some things paid before they begin to affect my credit even more. Anyone know of any companies out there that will go with a 100% equity loan with my bad credit score?

Lonnie