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local loan

    0.02 sec.
local loan
n
(Economics, Accounting & Finance / Banking & Finance) (in Britain) a loan issued by a local government authority


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Drought-hit farmers in northern India are resorting to selling their wives to repay debts to local loan sharks, activists say, as one of the weakest monsoons in years takes its toll.
The group said it will request additional lending authority from the SBA as demand for local loans increases.
If you meet the following requirements and lending standards, you may be eligible to refinance through the program: * Original loan was not an FHA mortgage * Payments prior to the reset were current * No late payments in the six months prior to the reset * Adequate income to meet payments under a new mortgage * Debt-to-income ratio less than 43% * Minimum 3% equity in the home * Rate has reset or will reset by December 31, 2008 * Remaining loan balance is lower than the local loan limit.
 
 
 
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