NLIC.org

Robin Said:

Can my friend get a mortgage loan?

We Answered:

Hi tina,

She can. Her interest rate would not be the prettiest.

~Trey

Jacob Said:

Mortgage Loan to an LLC?

We Answered:

There is no such thing as a non-recourse investment loan.

ALL of the banks loan to a LLC, it is common practice. Your problem is the amount, you need to borrow more.

I just borrowed some hard money (I can't get any more mortgages) and even with that I had to take 100k. It was short term, 6 months.

Calvin Said:

Can you still get mortgage financing if you have overdraft protection and use it? I have pretty good credit.?

We Answered:

Check with your lender. You should interview several mortgage lenders and work with one that you get along with personally and who has a good lending history. Also, make sure your lender is also the entity that is going to service your loan after closing - if they sell your loan immediately upon close and you will have to deal with an 800 number, this is not the right lender for you.

Using your overdraft account really shouldn't matter to most lenders - most of the time those do not show on your credit report. Work with a good lender, and a good Realtor who can help you find the answers you need and you should do just fine.

Good luck to you!

Herbert Said:

Is 'Payment Protection' on a loan a legal requirement?

We Answered:

Your IFA is correct. Conditional selling is no longer allowed by the FSA/OFT. This means that lenders (loans and mortgages) cannot insist that you take out an insurance contract or they can't/won't lend you the money (the only exception is buildings insurance which is a legal requirement).

There is no legal requirement to have any form of personal insurance with a loan (or mortgage). PPI sold by lenders is a very expensive form of insurance, for, usually, only 12 month's worth of benefit. It usually pays your loan repayments for 12 month's if you are unable to work due to accident, illness or unemployment - no good if you are self-employed, incidentally. Redundancy protection is about all it's good for, but you can get cheaper ASU (Accident, Sickness & Unemployment) policies elsewhere on a standalone basis.

Personally, if you're looking at protecting income, I think that Income Protection (sometimes called PHI) is a far, far better product. It insures your salary/income whether you are employed or self-employed, and even an amount if you are housewife/husband, if you can no longer work due to an accident, illness or incapacity. You can also get a standalone redundancy protection policy. These are much more cost-effective products.

Alliance & Leicester have been fined by the FSA in the past for misselling PPI.

In the first instance, write to; Let’s Work it Out, Alliance & Leicester plc, Carlton Park, Narborough, Leicestershire, LE19 0AL.

Tell them that you believe that you were missold the PPI because you were told that you had to take it as a condition of the loan. Expect them to try and fob you off. If they do, write back and tell them that you want them to look at your complaint further. If they don't refund your PPI premiums and interest charged on the PPI, then pursue with the Financial Ombudsman Service. I've attached the links below.

It seriously peeves me that high street lenders have the arrogance to think that they can still get away with these practices, and it gives the rest of the financial services industry a bad name.

Good luck. Post back if you need any further help with your complaint!

Audrey Said:

Can Yahoo mail provide spam protection by a list of keywords, e.g. casino, mortgage, loan, etc? Thank you.?

We Answered:

On mail page click on "options" and then scroll to "filters". Click on "add" and enter the words you object to in the spaces provided ----either in: --from or to, header---subject----body (OR all of them). Then choose folder to send them to---such as trash. Then click on "add filter"

Amy Said:

What would you put in the prepaid return envelope??

We Answered:

Hell no! Sometimes I put in old lottery tickets (after triple-checking them of course), dirty socks, pretty much whatever's lying around that can't be traced back to me. And even if it could...well I just don't care!

I've *heard* that you can even paste the prepaid envelope onto a parcel and they HAVE to accept it at the post office. Imagine the garbage you could put into a plastic bag-lined box...hee hee hee!