Can anyone tell me how a bank loan works? How long does it take to pay off the loan? Give an example?
Answers:
It all depends on what kind of a bank loan you are going to get - mortgage? loan with collateral? Signature unsecured loan? The signature unsecured loan would take about 30 mintes to process.. mortgage a little longer 2-3 weeks. They have to do research on the property = and pull your credit report = check your debt to income status. all pains in the butt! good luck it is a frustrating process!! You should order your free credit report and make sure that everything is clear before you even apply... I didnt order mine prior to applying and found out the hard way that some creditors were closing out credit cards for inactivity but listing them as bad debt or closed by creditor with no explaination and that goes against you. Another problem I had was they had added a closed for bad debt on my credit history that belonged to someone else (same name) Good luck! As far as paying it off - they will give you different options - longer you take to pay back the loan the lower your monthly payment is but you end up paying more interest in the long run.
Hello,
I am Mr Cobbs James, the owner of Cobbs Loan Investment and Estate. I am a lender who gives out loans to those business and private people with low rates of 5%. I give Collateral and Non Collateral loans with a range amount of $5,000USD to $5,000,000USD. If you want a loan and you
have a bad credit, no problem contact me on cobbslenders@yahoo.com for more informations about my loan and also filling the loan
application form below.
Your names .........
Your country........
Your address .........
Your occupation ........
Your marital status .......
Current Status at place of work...
Phone number.........
Monthly Income.........
Amount Needed.........
Next Of Kin.........
Purpose of Loan........
Pay Back Duration......
Await your response
James Cobbs
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