The Bank Loan Process, Creation and Destruction of Money

5 posts / 0 new
Last post
ItsTheInterest's picture
ItsTheInterest
Status: Member (Offline)
Joined: Apr 29 2012
Posts: 1
The Bank Loan Process, Creation and Destruction of Money

Do banks have to retire the principal portion of loans, or do they confiscate this also? I'm pretty clear about the confiscation of interest but the principal I've always assumed had to be retired. Thanks

SpotTheDog's picture
SpotTheDog
Status: Member (Offline)
Joined: Sep 12 2013
Posts: 2
I wouldn’t put it past them

I wouldn’t put it past them to confiscate the principal portion as well. It’s not surprising that banks would recover whatever they can from their borrowers, regardless of whether it is ethical or entirely legal (they will always come back with some obscure loophole if they were contested for such activity). They are managing and storing your money, so if you owe them money, then they supposedly have the right to access your money regardless of your financial situation. Borrow at your own risk…

Noahruth's picture
Noahruth
Status: Member (Offline)
Joined: Jun 18 2015
Posts: 1
Continuing the discussion with regards to CMHC's update

From June 1st, I believe, the premiums of mortgage loan insurance has increased and will be 15%. I'm in the real estate business and wondering how it is going to effect the business, even though CMHC has confirmed there won't be much change what-so-ever. I'm wondering how that can happen? I'm looking to take up a mortgage and it is undergoing pre approval process from 5 Year Mortgage Rate.com right now, but I'm not sure will I be effected adversely or will it be favorable according to the change.

Janet Kaufman's picture
Janet Kaufman
Status: Member (Offline)
Joined: Aug 14 2016
Posts: 1
Choose a Family Practice

Your insurer has called them, because they automatically assume that you and your loved ones will be for the best suppliers best doctor las vegas

Brenda Green's picture
Brenda Green
Status: Member (Offline)
Joined: Sep 5 2016
Posts: 1
Nitin Engineer in Las Vega

Nitin Engineer in Las Vega Very effective in this situation, especially in combination with the knowledge and practice of blood sugar levels stable throughout the day hand specialist las vegas

 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments