Secret Finance

Itsme asked:


I already have a home loan with ICICI on a floating interest rate. I’am looking for another loan.Should I clear this loan first to avail another loan or should I continue paying the EMIs for the entire tenure(This is a huge amount I will be paying by the end).
“Clearing a home loan” is what I meant of getting rid of the loan by making a pre-payment.

sandeepagarwals asked:


I am planning to sell one of my flat bought in 2004 on home loan. I have claimed for tax deduction for 4 years already. I have a seen a clause in the yearly bank statement that i will not be entitled for tax saving on home loan if flat is sold before 5 years. Is it true? Please provide more information on this clause.

Gennie Goose asked:


Hi! My husband and I are trying to move to Arizona in the next year and buy a house. This will be my first home. We both work full time jobs in California now. Any home loan advisors out there? Can you tell me how I can get approved/pre-approved for a full 30-40 year home loan when we have not yet gotten new jobs in the state we’re planning on moving? One thing I heard is if we plan to rent out the property, then we can get approved for a loan. Please help!

h.f. asked:


I am having a traditional loan application with a big bank. I just found a small bank in Florida, founded in 2004, is offering better rate and cost compared to those big famous banks. The small bank is member of FDIC. Somebody told me small bank may not follow federal regulations. How do I tell if a bank is a qualified home loan lender that follows all lending regulations? What is the risk borrowing home loan from a small bank?

are we there yet asked:


my house is worth about $550k.. My credit score is 559 right now, due to my excessive credit card and student loan debt.. nothing has ever been late, it’s just that i have excessive amounts of these debts.. i make about $2,600 dollars a month, and i’m wondering if i will be able to get a home loan for about $100k so that i can pay everything off.. (my house is 100% paid off).. will i have a problem getting this home equity loan?? should i even both applying or should i just wait until i pay down my credit cards more?? advice anyone??

KristenM asked:


I have undergrad student loans from one bank that I consolidated, and then graduate student loans from another bank. I am graduating in August and at that point I would like to have them all consolidated so I am not paying 3 different people each month.

angela923 asked:


I’m graduating this June and I’m going to have about 30,000 canadian in student loans. I want to pay off my loans as quickly as I can even if it means sharing a room with someone. I’m planning to take at least 50% of my pay check to go into loans. So maybe around 900 a month, which allows me to pay off my loans in about 3 years. I’m normally a saver anyway and I can live cheaply. I would have just enough money left over for rent and living expenses. My rent would only be about 400 dollars. Plus, I have savings right now that would work as my emergency fund. Do you guys think that it’s a good idea and is it worth it financially? My thought is that it would save me on interest even though it would be hard for a few years, but I will be much better off in the long run. Any suggestions?

Southerngirl29 asked:


I have around $4500.00 left in student loans, and I have two semester left of college. In the fall, I am taking 15 hours, but in the spring I am only taking six. Will they offer the remaining of my loans for the fall semester, and I can use my pell grant for the spring or will they split the remaining loans between the two semesters?

gserrado asked:


I am on my last year of Grad school and I run out of student loans. I had the federal loans and a citi-assist loan but my school is telling me that I maxed out on the amount of loans I can get (the full cost of attendance). What can I do? I see there are private student loan option but some say maximum is total cost of attendance… this means I am ineligible? what are my options?

thxbai asked:


I am a college sophomore attending a state school but even so I have already accumulated thousands in student loan debt. I worked 60+ hours a week last summer and that money won’t even last to cover half this year’s rent and utilities! I am trying to cut back spending but really all I buy are groceries and the occasional movie ticket. I don’t even have any transportation costs because the bus is free for students.

I have been unable to find part-time work that fits around my schedule because I need to take a lot of credits or I’m not going to graduate in time which would mean taking out even more loans. I applied for every scholarship I could get a hold of but didn’t get a penny, and my financial aid is absolutely pathetic because my family is in that awful limbo where their tax returns show too much income to get decent aid but too little to actually contribute anything. I am 19 years old, and I am scared out of my mind that I am digging a hole I’m never going to get out of.

HELP!!