|
|
|
A Guide to Quick Online Loans
Quick online loans can be a godsend when you need the money... the only problem comes in finding the right loan for you when you need it.
There are several things that you should consider when looking for quick online loans to make sure that you...
Demystify the allegorical misinterpretation of bad credit personal loans.
Every time you go for a loan, the bad credit trademark hits you where it should – your odds at finding a loan. For bad credit personal loan, it is necessary to discover your standing as a loan claimant. Loan borrowing is promoted as a much...
Guide to Secured Personal Loans
Here is a useful guide to secured personal loans. A secured personal loan is the generic term for a loan. A secured personal loan is when you take out a loan that is secured on your property. A secured personal loan is secured against your home to...
How to Get 100% Financing - Zero Down Mortgage Loans (Even With Bad Credit)
I decided to write this article today after closing a home purchase loan for a couple that had some major credit issues. They got into the house with ZERO down payment, and only had to bring $600 for the closing costs. Their situation was pretty...
The Attractive Tax Break for Home Loans
So, you've decided on the house, you've researched your mortgage
product options, and you know which product you need. Have you
taken into consideration the tax advantages that are being
touted as an attractive benefit of the interest only loan?...
|
|
| |
|
|
|
|
|
|
A Brief History of Loans
No one can say for certain where the history of loans began… it's likely that people have been practicing lending and borrowing for as long as there has been a concept of ownership.
The history of loans can be documented at least several thousand years back; forms of lending were evident in ancient Greek and Roman times, and monetary loans were even mentioned in the Christian bible.
The modern history of loans started much later than these ancient times, of course… it is, however, important to realize that lending started much earlier than many people would imagine and has its origin in much older times.
Indentured loans
One of the early forms of lending that should be explored in the history of loans is the indentured loan (also known as indentured servitude.) Initially practiced in the Middle Ages and through the 19th century by land owners and the wealthy, indentured servitude allowed poor individuals to borrow the money needed for major expenses such as travel and real estate.
Once the land owner or wealthy individual had secured a ship passage or piece of real estate for an individual, that individual would then have to work off their debt over the course of several years… unfortunately, many times the land owner was very dishonest and would greatly inflate the debt or would continue to add provisions to the debt long after it had been repaid.
Indentured servants often had very few rights, and were seen by some wealthy individuals as a way to maintain slave labor long after slavery had been abolished in both Europe and the United States.
Banking loans
Luckily, legitimate banks were developing even as indentured servitude was rampant. Individuals known as moneylenders played an important part in the history of loans… in fact, it's from the Italian moneylenders of the Middle Ages that we get both the English words “bank” and “bankrupt” that we use today.
Italian moneylenders would set up benches in
the local marketplace (with the word for bench being “banca”, from which we eventually derived the word “bank”). The moneylenders would charge interest on their loans at a rate that they set, and would sometimes be quite successful and become very wealthy.
As an interesting sidenote to the history of loans, if the moneylenders were not successful, though, they would break up their benches and pursue other venues. The Latin expression for breaking up a bench in this way was “banca rupta”, which eventually became the English word “bankrupt” (which carries a much steeper connotation than simply a broken bench.)
Modern banking loans
Of course, the history of loans has progressed quite a bit since the days of the Middle Ages moneylender. Interest rates are much more controlled, loan terms have a much higher degree of fairness to them, and the banks of our era aren't out to simply get as much money out of borrowers as they can.
The modern banks, finance companies, and online lenders that provide loans to the public and private sectors provide a great service to the world economy, and are regulated by both local and governmental policy so as to make sure that nothing interferes with that service.
However, if not for some of the oppression and misdealing that was present throughout the history of lending then the fairness and opportunity that exists in banking today might not be possible… even the oppression that resulted from indentured servitude in the past helped to establish modern banking by showing what factors needed to be eliminated so as best to benefit both lender and borrower.
You may freely reprint this article provided the following author's biography (including the live URL link) remains intact:
About the Author
John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the www.directonlineloans.co.uk website.
|
|
|
|
|
| Cheap Loans | car, personal & secured homeowner loans ... |
| Compare over 400 UK personal (unsecured) and secured homeowner loans, including car loans, to find the cheapest deals... |
| www.moneysupermarket.com |
|
| E-LOAN: Mortgage Refinance, Home Equity, Auto Loans, Savings ... |
| E-LOAN offers home mortgage, refinance, home equity loans, lines of credit, auto and motorcycle loans, savings accounts and CDs with great rates online. |
| www.eloan.com |
|
| Loan Center - Yahoo! Finance - News, Education, Daily Rates and ... |
| Loan Center - The Yahoo! Finance Loan Center provides useful tips, calculators, and rate data to help you choose an auto loan, mortgage, or personal loan ... |
| loans.yahoo.com |
|
| FREE LOANS QUOTE - the customers champion. Finding you the right ... |
| COMPARE! Let us get you a loans quote with minimal fuss. We're the UK specialists. |
| www.moneyweb.co.uk |
|
| Personal Any Purpose Loans : Loans.co.uk : Personal Loans UK |
| Offers consumer loans for any purpose in the United Kingdom. |
| www.loans.co.uk |
|
| FinAid | Student Loans |
| An education loan is a form of financial aid that must be repaid, with interest. ... The interest rate on the Stafford Loan for new loans first disbursed ... |
| www.finaid.org |
|
| GovLoans.gov - Find the Right Loan for You |
| GovLoans is a partnership of many Federal agencies and organizations with a shared vision - to provide improved, personalized access to government loan ... |
| www.govloans.gov |
|
| Loan - Wikipedia, the free encyclopedia |
| Bank loans and credit are one way to increase the money supply. ... Abuse in the granting of loans is known as predatory lending. ... |
| en.wikipedia.org |
|
| Mortgages, Refinance, Home Loans, Home Equity Loans at Quicken Loans |
| Online lender offers simplified residential loans and competitive mortgage rates. Headquarters in Livonia, MI. |
| www.quickenloans.com |
|
| Mortgage Loans - Compare Mortgage Rates - MSN Money |
| Get a mortgage loan that’s right for you. Compare mortgage loan rates of top lenders. |
| moneycentral.msn.com |
|
| The Student Loans Company Ltd. |
| Provides details of the Student Loans system which is part of the Government's financial support package for students. |
| www.slc.co.uk |
|
| Sallie Mae - Private Student Loans, Stafford, PLUS, Student Loan ... |
| Apply online for federal and private student loans, consolidate student loans; financial aid and scholarship information for college, graduate school and ... |
| www.salliemae.com |
|
| Loan Guaranty Service, Home Page (U.S. Department of Veterans Affairs) |
| This page provides content and information related to the Loan Guaranty Home Loan Program. |
| www.homeloans.va.gov |
|
| Fool.co.uk - Compare Loans - Personal Loans and Unsecured Loans |
| Compare over 200 UK loans including personal loans, secured loans, and unsecured loans. Search all loans and apply online. |
| www.fool.co.uk |
|
| LendingTree Home Loans | Refinance | Home Equity | Mortgage Refinance |
| Service network of lenders that enables consumers to compare rates, apply for and get approval for competitive auto loans online. |
| www.lendingtree.com |
|
| Direct Loan Home Page |
| The US Department of Education's lending arm for students in participating schools and student loan consolidation. |
| www.ed.gov |
|
| Personal, home equity loans for union members at Union Plus |
| Union Privilege offers Union Plus benefits -- including credit card, mortgage, loans, insurance, scholarships, health care savings and other discounts -- to ... |
| www.unionplus.org |
|
| Countrywide Financial - Home Loans - Equity Loan Mortgages ... |
| Countrywide Home Loans is the nations largest independent mortgage lender offering home equity, HELOC, refinance, mortgages, debt consolidation and other ... |
| my.countrywide.com |
|
| Secured Loans UK - Secured Personal Loans - accepted.co.uk |
| We search over 200 secured loan plans to find the best deal from our lenders - accepted.co.uk. |
| www.accepted.co.uk |
|
| UK Loans : Personal Loans, Secured Loans, Cheap Loan Quotes |
| The UK Personal Loan Store offers comparisons of the UK loans, personal and secured loans. Also offers tips, articles and latest loan news section. |
| www.ukpersonalloanstore.co.uk |
|
|