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An individual(s) that is living the American Dream of blatantly lying on their lending institution documents that defaults on their home, loses everything, living on the street as a hobo in leiu of spending jail time with 3 meals and a controlled atmosphere/temperature for said crime.
Jerry is spending time in Loan Rehab due to his less than truthful income that he documented on his loan documents to acquire his 5 bedroom/6 bathroom home. His wife Tina and there 2 small children both under 6 years old are safely living in Tina's parents home as Jerry has taken up residency under the freeway overpass nearest his defaulted home's address.
A Joan loan, also known as a jumbo mortgage, is a type of financing that exceeds the limits set by the Federal Housing Finance Agency (FHFA). Unlike conventional mortgages, a Joan loan is not eligible to be purchased, guaranteed, or securitized by Fannie Mae or Freddie Mac therefore typically requires backing via connections to private equity whether direct or indirect.
Designed to finance luxury properties and homes in highly competitive local real estate markets, joan mortgages come with unique underwriting requirements and tax implications. These kinds of mortgages gained traction as the housing market recovered following the Great Recession.
This typically results in an over-leveraged person or business as theyve’ve borrowed too much money in relation to their ability to pay it back: When prices collapsed, many over-leveraged people went bankrupt.
Hey honey, look at this house. It’s a bit out of price range now, but we can apply for a Joan loan and “afford” this beautiful home.
A payday loan is when you get an advance on your paycheck and pay it back with interest on payday. Generally this interest is 15%. Payday loans are set up to automatically pay themselves back because you post-date a check when you get the loan. If you get to the point where you are getting payday loans from other places to pay back the first payday loan, you are fucked. Payday loans should be avoided at all costs, as they fuck you in the long run. Many states have laws against certain payday loan practices.
Dude 1: Dude, come to the concert with us, it's payday!
Dude 2: Dude, I can't, I have to pay back these payday loans.
Dude 1: Dude, just get another one.
Dude 2: Oh yeah! Then I'll have money until next payday!
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Someone who commits the crime of usury; loans you money and charges extremely (and illegally)high interest on said loan.
James borrowed $100,000 from the loan shark and now he wants $170,000 back.
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A bank note taken out by a late-stage child for a quarter of a million dollars to assist them in getting a job that pays thirty thousand dollars a year. Once attained, it's required that you drink overpriced beer and cocktails while congregating with other loan holders to complain about how people who found other means to success should pay for the balance of the bill.
"When that hunk, Joe Biden, talks about wiping out my student loans, I get wet and need new panties."
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Modifying an exsisting loan to better terms/lower payments. Currently loan mods are a way for a borrower of a home loan to negotiate the terms of there mortgage. Loan Modification officers are typically a third party out of work x-mortgage loan officer trying to continue to make easy money by being a middle man involved in financial transactions.
GD:"Mortgage re-financing is terrible right now,lending sucks".
Bova: I know,where the hell have you been, We are all doing "Loan Mods" right now until sub-prime comes back!
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When your wife owes you money, so you shoot your load in her eye.
AKA. When a wife gets added to credit and kills your deal due to excessive shopping.
Steve came home early and saw three Coach purses and 15 pairs of shoes, he then proceeded to give her the loan sniper.
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