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Archive for March, 2009

 

How long will it take to receive a Stafford loan disbursement?

Monday, March 30th, 2009
Richard S. asked:


I’m attending an accredited flight school starting November 5th, 2007 and plan to graduate end of March/beginning of April of ‘08. I have already secured my financing through private loans (Sallie Mae / Wachovia). I know it’s too late to apply for federal aid this year. If I fill out the FAFSA on the 1st of the year, how long will it take to receive a Stafford loan disbursement? I believe my school will request the final disbursement from Sallie Mae sometime in Feb. I’d rather get the money from the Stafford loan as the interest rate is about half of what I’m paying for the private loan.
The school is ATP (Airline Transport Professionals) located in Ponte Vedra Beach, FL. I’m attending the Jacksonville location. I could not find their school code on the FAFSA website. I know they are nationally accredited. Does this mean stafford loans aren’t available?

Marlene

 

What is loan modification and how much does it cost compared to a refinance?

Monday, March 30th, 2009
Pamela T asked:


Is it easier to modify a loan if you don’t fit the underwriting guidelines for an FHA refinance?
Not in foreclosure; just have a high-interest rate ARM and too high of a DTI.
Thanks for your input.

Dale

 

How do I get a student loan for living expeneses?

Monday, March 30th, 2009
jellojiggler03 asked:


I am trying to get a student loan, because I need to be able to pay for an apartment and need to get a new vehicle. I am working but I’m only making minimum wage and its not enough. How do i get a student loan that will send me the money instead of the school?

Michele

 

What is the difference between a start-up loan and a small business loan?

Sunday, March 29th, 2009
inspection338 asked:


I need to take at least a $250,000 loan to start up a flight school as a small business and I am not sure which type of loan I should be looking for. Help please.

Victor

 

How often does interest accumulate on an unsubsidized Stafford student loan from the government?

Saturday, March 28th, 2009
Level T asked:


The interest rate on an unsubsidized Stafford student loan is 6.8%. How often does interest acculumate on such a loan? For example, if my loan is $5000, how do I calculate when and how much interest is capitalized onto the loan. Thank you for your help.

Thomas

 

What happens if a loan rejection happens after the option period is up and an offer is already made?

Saturday, March 28th, 2009
toni asked:


I heard FHA loans can take anywhere from 1 to 6 weeks to approve. If our option period is 10 days from today, and we get rejected for our loan 15 days from now, what happens? Do we just lose our earnest money and that’s it? Or is it a more serious problem, as we’ve already made an offer because we were preapproved?

Kelly

 

Is there a good loan for people with low credit or bad credit?

Friday, March 27th, 2009
Tracy S asked:


I have a low credit score. Most my bad credit is old credit. I have a bunch of little loans from finance companies, but they charge really high interest rates. I would like to get a loan for about $5000 to $6000 to pay these off and have one payment that would be lower.

Agnes

 

What do you think of loan offers that you see or receive on this site?

Thursday, March 26th, 2009
dfs raj asked:


Hi all, have you ever received a loan offer to ease your financial difficulties on thi site? How genuine are they? Is anyone out there who could share their experience in successful assistance of loan?
I pose this question cos a few of them approached me with their offers. But then I find the requirements too simple with insistence on cash collateral of 2-2% of the total amount requested. As I mentioned earlier in my intro, I ‘m keen to know more on this issues to effectively help many of the people out there. Thanks guys for all the answers.
To Curious,

Not indended to be on this section. Guess I overlooked that.

Minnie

 

Is it wise to get a unsecured loan to pay off another unsecured loan?

Thursday, March 26th, 2009
Shauntae asked:


The loan will be in the thousands. And if so what is the best business to apply for the loan with?

Patricia

 

Is it worth while to do an Interest only loan when refinancing your home?

Tuesday, March 24th, 2009
Angel M asked:


There’s a company that’s offering 1.5% APR interest only loan for anyone that has a credit score of 620 or above. They advised that if I take the $800 in savings and invest it, I can use the savings to pay off all of my outstanding debt. In 5 yrs after the loan is over we would do it again but because it’s interest only that I’m paying the amount of the new loan will be more than the original loan. We just need some professional advise.

Clyde
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