most recent 30 from http://www.basicallymoney.com 2010-07-31T11:41:34Z http://www.basicallymoney.com/feeds/tag/loans http://www.creativecommons.org/licenses/by-nc/2.5/rdf http://www.basicallymoney.com/questions/1679/would-it-be-better-to-borrow-money-from-an-elderly-relative-than-from-a-bank Web Search User 2010-05-24T13:52:23Z 2010-07-20T09:56:30Z

<p>Would it be better to borrow money from an elderly relative than from a bank?</p>

http://www.basicallymoney.com/questions/1821/what-do-you-do-when-a-family-member-wont-pay-you-back Web Search User 2010-06-08T01:51:56Z 2010-06-23T12:09:56Z

<p>What do you do when a family member won't pay you back?</p>

http://www.basicallymoney.com/questions/1380/why-do-governments-borrow-money-instead-of-printing-it ripper234 2010-04-09T12:51:17Z 2010-06-22T04:07:20Z

<p>This question is raised in the movie <a href="http://video.google.com/videoplay?docid=-2550156453790090544#" rel="nofollow">Money as Debt</a> (at time index 29:00).</p> <p>The answer that immediately pops to my head is "because printing money causes inflation".</p> <p><strong>However</strong>, according to this movie, money is created not only by printing it but rather more so by borrowing it (watch the movie for the details). In that case, borrowing money from banks also creates money - can't this this cause inflation as well? In this case, my question is the question the movie raises:</p> <p>Why do governments borrow money instead of printing it? (When printing money, one doesn't need to pay interest).</p> <p>(Note - I am asking an objective question, regardless of how objective the movie might or might not be)</p>

http://www.basicallymoney.com/questions/631/im-a-teenager-why-do-people-use-mortgages-when-they-could-just-pay-for-the-ho Alex 2009-12-30T22:19:15Z 2010-06-18T17:52:09Z

<p>I would like your recommendation on whether you should buy a house with a mortgage, which you would pay as you go, or should you buy it in full. Thank you for your time.</p>

http://www.basicallymoney.com/questions/1691/help-being-charged-interest-on-a-loan-for-which-i-received-no-statements-telling Dan 2010-05-25T15:53:53Z 2010-06-16T11:58:43Z

<p>Is this legal? This was a private loan within a small business. I was under the assumption that the bill was paid in full 15 years ago. My only drawback is that I never got them to sign to verify the payoff.... just told me the payoff and I paid it.</p> <p>I am a part owner of this business and now that we are getting ready to move on the others whip this on me. Now with all the years past and the 10% interest this turns out to be a very large debt. This is being used against me in a very cruel way....please help in any way.</p> <p>Thank You.<br> Dan</p>

http://www.basicallymoney.com/questions/1702/if-i-co-sign-a-loan-does-it-affect-my-own-ability-to-borrow-due-to-the-debt-to-i Web Search User 2010-05-27T01:52:42Z 2010-06-16T11:54:15Z

<p>If I co-sign a loan (e.g. for a friend or family member), does it affect my own ability to borrow money due to the debt-to-income ratio?</p>

http://www.basicallymoney.com/questions/337/should-you-co-sign-a-personal-loan-for-a-friend-family-member-why-why-not YMCbuzz 2009-11-22T19:23:19Z 2010-05-22T10:16:57Z

<p>I know someone who was recently asked to co-sign a hefty loan by a family member. I don't know what I'd do if I was put in the same position as the one asked. What are the risks? What are things to consider? Would you recommend co-signing, and under which circumstances?</p>

http://www.basicallymoney.com/questions/1621/paying-off-student-loans-early-lump-sum-best-practices internetproj 2010-05-12T19:53:14Z 2010-05-19T19:50:48Z

<p>My wife &amp; I have run into a large sum of cash recently and are interested in paying off/paying down our student loans -- about $30k between us, at about 6.5% avg interest.</p> <p>We're both earning enough that we can no longer claim student loan interest on our taxes, and are hoping to buy a home etc and would like to bring down our Debt-To-Income ratio.</p> <p>From what I understand there are typically early-termination fees to consider. Are there also any tax implications for paying off debt in a lump sum like this? </p> <p>Does staggering large payments over the course of several months have any advantage? (mentally it'd be nice to get them out of the way now!)</p>

http://www.basicallymoney.com/questions/1431/homeowners-association-funding-a-project-in-a-condo-bank-wants-an-individual-gu Benjamin 2010-04-13T17:45:10Z 2010-05-19T01:49:30Z

<p>From time to time my HOA (homeowner's association) needs extra money for a project (eg painting fences, fixing roofs, plumbing repair, etc). They typically respond by raising the monthly HOA dues for a short time to cover the expense.</p> <p>I talked to a banker about possibly getting a loan in the name of the HOA. The bank was willing to give a loan, but they wanted an individual guarantor. It's quite hard to convince someone to be the guarantor. What are some incentives we can give someone for volunteering to be a guarantor? Is there any other way we can raise money without resorting to higher HOA fees?</p>

http://www.basicallymoney.com/questions/1616/what-happens-if-i-co-sign-a-loan-and-the-borrower-or-debtor-dies Web Search User 2010-05-12T00:25:55Z 2010-05-12T15:27:47Z

<p>What happens if I co-sign a loan and the borrower or debtor (the person that borrowed the money) dies?</p> <p>Does the co-signer then assume full liability over the loan, i.e. become the new and sole debtor? Does it vary by type of loan (e.g. mortgage vs. other?)</p> <p><em>(Note: This is similar to the question <a href="http://www.basicallymoney.com/questions/1106/co-signing-dying-what-if-a-loan-co-signer-dies-is-estate-of-co-signer-liable" rel="nofollow">Co-signing &amp; dying: What if a loan co-signer dies? Is estate of co-signer liable?</a>, but is asking about the death of the borrower instead, <strong>not</strong> the death of the co-signer.)</em></p>

http://www.basicallymoney.com/questions/1430/rules-for-fha-loan-availability Benjamin 2010-04-13T17:34:49Z 2010-04-14T01:53:20Z

<p>I'm trying to find the laws on what makes a condo complex available for FHA loans. I hear it has something to do with the amount of money on reserve and the owner/occupancy ratio. Does anyone know if there is a copy of these laws online?</p>

http://www.basicallymoney.com/questions/502/home-renovations-are-expensive-should-i-only-pay-cash-for-them montyloree 2009-12-11T15:19:26Z 2010-04-10T13:43:31Z

<p>Should I save up enough cash to do home renovations, or can I take out a loan? Our house needs a new kitchen floor as the linoleum is actually ripped in some areas, and the wood is exposed... This is going to cost $1500 to fix.. it's going to take a few months to save for that.. ideas?</p>

http://www.basicallymoney.com/questions/1348/what-happens-when-you-make-extra-payments-but-dont-specify-principal-reduction Tim 2010-04-06T20:05:17Z 2010-04-07T04:29:19Z

<p>Lets say your loan payment is $100 a month. </p> <p>What is the differences between:</p> <ol> <li>making a regular payment for $120</li> <li>making a regular payment for $100 plus an additional principal reduction payment for $20</li> </ol> <p>Is it the same thing?</p>

http://www.basicallymoney.com/questions/1265/a-loan-or-a-self-loan C. Ross 2010-03-25T21:06:21Z 2010-03-25T23:51:53Z

<p>Is there any reason I should ever take out a loan when I have that money in saving?</p> <p><strong>Example:</strong> I have 20k in a house fund, and I want to spend 8k to buy a car? </p>

http://www.basicallymoney.com/questions/1106/co-signing-dying-what-if-a-loan-co-signer-dies-is-estate-of-co-signer-liable Chris W. Rea 2010-02-28T15:49:04Z 2010-03-04T20:07:29Z

<p><em>A grim and tragic question perhaps, but I'm curious:</em></p> <p>What happens when a person that co-signed on a loan dies? Is the co-signer's <em>estate</em> potentially liable until the loan is paid off, the same as if the co-signer had borrowed the money themselves? Or, does the responsibility for the loan die with the co-signer? Does the bank/lender take on that risk?</p>

http://www.basicallymoney.com/questions/1044/someone-asks-you-to-co-sign-a-loan-how-to-reject-say-no-nicely-or-politely Chris W. Rea 2010-02-19T17:51:27Z 2010-03-02T13:17:48Z

<p>Hypothetical situation:</p> <p>A dear friend or family member comes to you and asks you to co-sign for their loan. Let's say the reason they need the money is <em>not</em> a life-or-death type of situation. Perhaps they need something (a car, to get to a job) or want something (a kitchen renovation) &ndash; but we're not talking about a serious medical or other "emergency" issue. (I think co-signing then is a separate question.)</p> <p>Anyway, let's say you'd rather not co-sign, since you know how co-signing for a loan can lead to problems <em>for you</em> down the road. <em>(Refer to <a href="http://www.basicallymoney.com/questions/337/should-you-co-sign-a-personal-loan-for-a-friend-family-member-why-why-not" rel="nofollow">this question</a>, and <a href="http://www.basicallymoney.com/questions/996/if-i-co-sign-on-a-loan-for-someone-am-i-putting-up-money-is-there-a-cost" rel="nofollow">this question</a>.)</em></p> <p><strong>What are some ways you could <em>politely</em> &ndash; but effectively &ndash; reject a friend or family member's request for you to co-sign for their loan?</strong></p>

http://www.basicallymoney.com/questions/996/if-i-co-sign-on-a-loan-for-someone-am-i-putting-up-money-is-there-a-cost PHC1983 2010-02-14T03:02:31Z 2010-02-14T15:16:28Z

<p>Does it cost me anything if I co-sign a loan for someone?</p>

http://www.basicallymoney.com/questions/187/will-our-hefty-student-loans-affect-our-chances-of-getting-a-mortgage JCarterRN 2009-11-05T16:42:26Z 2010-02-07T20:43:26Z

<p>My husband and I live simply but we're content. I'm an avid budgeter and love finding ways to be frugal. My dilemma right now is that we've been able to keep our living expenses below what we make, but I don't know what our focus should be for using the extra.</p> <p>We've got $100K in student loans (ug), with rates ranging from 3.3% to 9.1%. We're just making minimum payments right now. We'd like to buy a house in the next 5 years or so. We've been saving in a money market account and have $10K there now.</p> <p>Our credit scores are excellent, but we're afraid that our hefty student loans could hurt us when it comes time to apply for a mortgage. Does anyone know how our loans will affect a mortgage rate? And if it does hurt us, how much should we try to pay off before we're safe?</p> <p>Basically, should we put our focus on paying off our student loans, or saving for a house?</p>

http://www.basicallymoney.com/questions/809/what-are-advantages-disadvantages-of-using-a-peer-to-peer-lending-site-or-netwo jj 2010-01-21T21:16:25Z 2010-01-29T09:04:55Z

<p>If I was looking to consolidate some credit card debt and wanted to use a peer to peer lending service, what things do I need to look out for? </p>

http://www.basicallymoney.com/questions/774/what-is-the-difference-between-good-debt-vs-bad-debt Bounty FAQs 2010-01-16T14:23:36Z 2010-01-18T18:04:11Z

<p><a href="http://www.basicallymoney.com/questions/773/for-a-major-expensive-home-renovation-e-g-addition-finished-basement-or-new-k" rel="nofollow">This other question about home renovations</a> makes reference to the concept of "good debt." </p> <p>Could somebody explain the concepts of <strong>good debt</strong> vs. <strong>bad debt</strong>, providing examples of each?</p> <p>Are there cases when borrowing for a specific kind of purchase (e.g. a house, or a car, an education) could be considered good debt in one scenario, and bad debt in another scenario?</p> <p>Last: on <strong>good debt</strong> and that old saying "<em>you can never have too much of a good thing</em>": really?</p> <p><br> <em>Note: This question is a <strong>Bounty FAQ</strong>. More info <a href="http://www.basicallymoney.com/users/178/bounty-faqs" rel="nofollow">here</a>.</em></p>

http://www.basicallymoney.com/questions/773/for-a-major-expensive-home-renovation-e-g-addition-finished-basement-or-new-k Chris W. Rea 2010-01-16T14:12:55Z 2010-01-16T16:08:30Z

<p>This <a href="http://www.basicallymoney.com/questions/502/home-renovations-are-expensive-should-i-only-pay-cash-for-them" rel="nofollow">other question</a> is similar, but was referring to a specific renovation/repair (new flooring) that, while expensive ($1500), isn't <em>very</em> expensive &ndash; it's feasible to consider saving up for over a short period of time.</p> <p>So, I'm curious: Imagine one wanted to do a <strong>major</strong> home renovation such as: building an addition to the home, finishing the entire basement (assume with bathroom), or redoing the entire kitchen.</p> <p>In those cases, would it still make sense to save up the cash, or else take out a specific loan, additional mortgage, or borrow from a line of credit? Actually saving up the cash for a major renovation like that &ndash; easily exceeding five figures, perhaps approaching six! &ndash; could take many years, decades!, for some families.</p> <p>So, if one could really use the additional space and didn't have cash on hand, would borrowing for such a renovation be considered "good" debt similar to a mortgage? Or are there still reasons to save up the cash?</p>

http://www.basicallymoney.com/questions/611/paying-off-loans-early-or-is-there-some-way-to-reduce-extortionate-interest-char James 2009-12-27T22:51:53Z 2010-01-03T17:01:47Z

<p>I bought a car about 2 years ago on finance. The car was priced at £11k and I was very quick to jump at the chance rather than thinking.</p> <p>Over the 5 year period I'm paying over £18k in total, thats £7k interest, which is over half the value of the initial loan</p> <p>The monthly payments are OK, its £300 per month, I'm not struggling with that since I still live at home and don't have many commitments. I'm seriously kicking myself paying such high interest when the exact same model can be bought outright for £4k now</p> <p>If I try to payup early, will I pay less interest? Is there anything I can do or do I just have to grin and bear it?</p>

http://www.basicallymoney.com/questions/492/saving-1-000-per-monthwhat-should-i-do-with-it Daniel 2009-12-10T18:29:09Z 2009-12-21T17:08:40Z

<p>I am able to save $1,100 a month, after all expenses and after paying the minimums ($225 a month on my 2.24% and 3.25% student loans). I want to make smart decisions with my money, but am not sure what to do. I currently have a secure job and have about $23,000 in these low interest student loans. I have no credit card debt and I have $5,000 in savings. I am single and 22.</p> <p>Should I: a) use that $1,100 to pay off debt, even though it is at a low interest rate? b) save it in a "high interest" savings account? c) invest it in index funds? d) a combination? e) something else?</p> <p>These are the types of issues I debate on my <a href="http://SweatingTheBigStuff.com" rel="nofollow">site</a>. I focus on USEFUL ways to save money and make smart (personal) financial decisions.</p>

http://www.basicallymoney.com/questions/309/ive-heard-that-its-never-a-good-idea-to-go-with-payment-protection-plans-offere YMCbuzz 2009-11-19T03:31:36Z 2009-11-28T03:49:49Z

<p>I'd like to think my bank isn't trying to swindle me when they call and try to sell me one.</p>

http://www.basicallymoney.com/questions/119/what-are-the-pitfalls-of-loaning-money-to-friends-or-family-is-there-a-right-wa unknown 2009-10-20T19:02:10Z 2009-11-13T16:21:37Z

<p>What are the pitfalls of loaning money to friends or family? Is there a right way to do it?</p>