is there a way to get a loan against your own money ? - GoFuckYourself.com

p3rsian · 03-16-2005, 03:15 PM

is there a way to do this ?
if so what is usually the rate for it and whats the max % of your original money u can get a loan ?

After Shock Media · 03-16-2005, 03:17 PM

Yes you can go to a bank and get a secured loan, where the loan amount is secured by a deposited amount that you can not touch. Typically they will put the deposited amount in a short term CD or one of the length of the loan. Works very well when one wishes to build up credit.

Forgot, rates are generally typical to the good credit rates, and you can ussually get one for at least 100% of the secured amount.

03-16-2005, 03:17 PM

called a secured loan

p3rsian · 03-16-2005, 03:19 PM

Quote:

Originally Posted by Lord of the fungi

Yes you can go to a bank and get a secured loan, where the loan amount is secured by a deposited amount that you can not touch. Typically they will put the deposited amount in a short term CD or one of the length of the loan. Works very well when one wishes to build up credit.

Forgot, rates are generally typical to the good credit rates, and you can ussually get one for at least 100% of the secured amount.

any idea how much the rates are ?

woj · 03-16-2005, 03:31 PM

If you have money, why would you need a loan? The whole concept doesn't make sense...

Miguel · 03-16-2005, 04:32 PM

sometimes you want to show everybody that you took a loan, you'll be telling them how hard it's to pay % on this loan and other shit

After Shock Media · 03-16-2005, 04:35 PM

Quote:

Originally Posted by woj

If you have money, why would you need a loan? The whole concept doesn't make sense...

On occassion people who either have no credit or are fixing their credit who do have cash can use this option to build up their credit scores.

Current rates I would not know, since I have not gotten a loan on sometime.

videoxpix · 03-16-2005, 07:32 PM

A secured loan/line of credit would be around 70% of what is being held as collateral, then your interest rate should be at prime, or with the right relationsip, even prime less the CD yield.

tungsten · 03-16-2005, 07:34 PM

Quote:

Originally Posted by Lord of the fungi

On occassion people who either have no credit or are fixing their credit who do have cash can use this option to build up their credit scores.

Current rates I would not know, since I have not gotten a loan on sometime.

makes sense

Barefootsies · 03-16-2005, 07:35 PM

Yes you can. Secured short term CD (depending on loan type).
Some people do this not only for credit reasons, but also so they still have some capital to claim. If you have $20k in 'trust' for a loan, you still essentially HAVE $20k. If you spend it, you don't.

03-16-2005, 03:15 PM	#1
p3rsian Confirmed User Join Date: Sep 2003 Posts: 1,050	is there a way to get a loan against your own money ? is there a way to do this ? if so what is usually the rate for it and whats the max % of your original money u can get a loan ? __________________ boro en harfa chei

03-16-2005, 03:17 PM	#2
After Shock Media It's coming look busy Join Date: Mar 2001 Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn". Posts: 35,299	Yes you can go to a bank and get a secured loan, where the loan amount is secured by a deposited amount that you can not touch. Typically they will put the deposited amount in a short term CD or one of the length of the loan. Works very well when one wishes to build up credit. Forgot, rates are generally typical to the good credit rates, and you can ussually get one for at least 100% of the secured amount. Last edited by Lord of the fungi; 03-16-2005 at 03:18 PM..

03-16-2005, 03:31 PM	#5
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	If you have money, why would you need a loan? The whole concept doesn't make sense... __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

03-16-2005, 04:32 PM	#6
Miguel Confirmed User Join Date: Apr 2004 Location: Serious-Cash.com Posts: 2,978	sometimes you want to show everybody that you took a loan, you'll be telling them how hard it's to pay % on this loan and other shit __________________ Serious Cash: 27 niche sites - step fantasy, teen, amateur, anal, hardcore, reality [Kinky Family] [Brutal X] [Fucking Glasses] [18 Videoz] [Teeny Lovers] [Sell Your Gf] [Dirty Flix] and others great sites...

03-16-2005, 07:35 PM	#10
Barefootsies Choice is an Illusion Industry Role: Join Date: Feb 2005 Location: Land of Obama Posts: 42,635	Yes you can. Secured short term CD (depending on loan type). Some people do this not only for credit reasons, but also so they still have some capital to claim. If you have $20k in 'trust' for a loan, you still essentially HAVE $20k. If you spend it, you don't. __________________ Should You Email Your Members? Link1 \| Link2 \| Link3 Enough Said. "Would you rather live like a king for a year or like a prince forever?"

03-16-2005, 03:17 PM	#3
esnem Guest Posts: n/a	called a secured loan

03-16-2005, 07:32 PM	#8
videoxpix Confirmed User Join Date: Nov 2003 Location: EVIL EMPIRE - NYC Posts: 267	A secured loan/line of credit would be around 70% of what is being held as collateral, then your interest rate should be at prime, or with the right relationsip, even prime less the CD yield.