You've probably heard of a dramatic student loan payoff story in which someone pays off $ 20,000, $ 40,000 or even $ 100,000 in
loans in a few short months or years.
Not exact matches
You may find yourself unable to pay within a
few short months of being granted the
loan and on the fast track to financial ruin
in the form of poor credit scores or ratings.
Then,
short term
loans allow you to repay the small
loan in a
few months and saves you from burdening your finances for so many years as happens
in longer duration
loans.
Another way a life insurance
loan is superior to a home equity line of credit is that the
loan can occur
in a
few short days rather than having to wait weeks or
months.
Having a couple thousand dollars added to your
loan balance just to save a
few bucks a
month won't help you
in the long term or the
short term.
What that would * not * indicate is that we did so because logistical issues necessitated that we close on this house a
few weeks before we closed on the house we were selling
in another city
in order to move here, and the 20 %
loan represented a very
short - term bridge
loan that was paid off within a
month or so.
Payment periods tend to be every
month or so and your
loan may be up within the
month or
in a
few short years, depending on how much you borrow.
I am a recent college grad with student
loans knocking on my door
in a
few short months, but I want to knock out the high interest payment credit cards first.
As the name suggests,
short - term
loans are just that; most
short - term
loans only extend between one week and six
months in length, with a
few weeks being typical.
I now have cash - out
loans on 2 properties, and 2
loans in the approval process,
in a
short few months.