Posted by Matham on 4/10/11 4:24pm
Msg #379388

Are there any others?

So, I've been doing research today, collecting data on all loan products/types that are out there and I want to make sure I am familiar with every kind of loan situation I could potentially run in to. Some were covered in my class, which I am already familiar with; others were not.

I've scoured Notary Rotary and Google as best as I can and have identified the following loan products/types that are out there, and also sought out their definitions (with the exception of a timeshare closing), but I want to make sure if there are any types of loans I may be missing, with the exception of possibly a WHEDA loan, which looks to be a loan only offered in Wisconsin?

If there are any loan types I am missing, please let me know.

Purchase
Home equity line of credit (HELOC)
Home Equity Loan:
VA loan -
VA Reduction loan
Reverse Mortgage -
FHA loan -
WHEDA
Construction Loans -
Refinancing -
Commerical Property Loans
Existing Loan Modifications -
Reduced rate loan modification
Second Mortgage -
Commercial Establishment
Time Share loan/Closings
Fixed Rate loan
ARM loan -
Balloon Mortgages -
Bridge Loans -

Reply by 101livescan on 4/10/11 6:05pm
Msg #379389

HARD money loans

Reply by HisHughness on 4/10/11 8:07pm
Msg #379392

Lou (Jersey Banana) Grissetta Short-Term Loans With 50% Vig, sometimes colloquially known as CSTs, or Cement Shoe Transactions.

Reply by Shoshana/AZ on 4/10/11 8:57pm
Msg #379393

Ah Yes, I knew him back in Brooklyn!

He carried around a baseball bat all the time.

Reply by BarbaraL_CA on 4/10/11 11:59pm
Msg #379397

I commend you for taking the time to research all the loan types you could find. It shows you have drive and motivation. Keep up the good work. Quite honestly, I can not think of another type at 9:45pm on a Sunday evening!

Reply by CT_Notary on 4/11/11 12:16am
Msg #379399

Interest only

Reply by SouthernOK on 4/11/11 12:43am
Msg #379401

Is this the same as a ballon? You pay lower monthly costs but the note comes due in say 5-7 years.

Reply by SouthernOK on 4/11/11 12:58am
Msg #379402

n/m a balloon is a different beast, even if you spell it wrong.

Add balloon to the list.

Reply by Linda Juenger on 4/11/11 7:31am
Msg #379407

Balloon is already on the list n/m

Reply by SouthernOK on 4/11/11 12:42am
Msg #379400

Lease to own, AKA lease to purchase or rent to own.

Reply by ReneeK_MI on 4/11/11 5:50am
Msg #379406

Better time/date stamp that list (see my post above!) n/m

Reply by Stoli on 4/11/11 12:37pm
Msg #379434

Neg-Am n/m

Reply by 101livescan on 4/12/11 10:13am
Msg #379491

Re: Neg-Am

Neg-Am loans are no longer in existence due to all the crises. These were LIAR, NINJA loans, no longer a product anywhere.