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

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

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

Henry O asked:


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

Lorraine

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

Doogie asked:


Here’s the info. We want to put an addition onto our home. We purchased it new in 2002 for $119,000 and we borrowed $26,000 on our original loan which is a 5/1 ARM. In our current market area, our home would sell for between $150K and $160K. We will need $50K to do the addition. Which is the best route for us: to refinance and get the $50K or get a home equity loan or home equity Line-of-Credit? It’s all confusing and I know there are pros and cons to each product. HELP!!!! Thanks in advance!
Sorry Frazure, but my debt load is minimal and my credit score is excellent…take your advertisment elsewhere.

Thomas

Karl asked:


I was wondering if anyone took a personal bank loan in order to pay off their credit card balances? Do banks actually offer a credit card consolidation loans yet and for that purpose only? From what I understand this would be better than a 401K loan. Forget the home equity loan. Also heard enough about those so called “credit card repair companies” that they are not worth it. About 16k owed and I am sick and tired of their finance charges , late fees, etc. Want rid them once and for all!

Steve

oi8b4u2 asked:


i own my home and land in california and reside in it. i’m self employed (retail store) for 7 months. my home and property are fully paid for . i’m looking for a small loan 10-15k property is worth 175k my credit is bad any ideas? thanks

Thomas

Thomas W asked:


I’m trying to stay solvent with my finances but my bank won’tgive me a home equity or an unsecured loan. What else can I do, file bankruptcy. I lost my good paying job about 5 years ago and just can’t get up to the earnings level I need to stay above water. Any other ideas?
Thanks Tom.

Erica

mommyme asked:


I was just about to get a home equity loan, however most of the advice I got on here said no. We checked on it an the interest rates are variable- which I dont like. Anyway we decided to try the Dave Ramsey system(cut up credit cards, pay cash etc). If anyone has any advice on how to do this more quickly etc please Help.

Susan