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If you owe a modest amount — $20,000 or $25,000, for example — and simply want to get rid of your monthly payment, writing a check for the remaining balance might make sense.
For example, the expression 7 + −5 may be clearer if written 7 + (−5) (even though they mean exactly the same thing formally). The subtraction expression 7 – 5 is a different expression that doesn't represent the same operations, but it evaluates to the same result.
Debt is an obligation that requires one party, the debtor, to pay money borrowed or otherwise withheld from another party, the creditor.Debt may be owed by a sovereign state or country, local government, company, or an individual.
Don’t retire owing money on your home A recent survey from mortgage banker American Financing found that 44% of Americans in their 60s and 70s are still paying off a mortgage. And 17% said they ...
The same term can also be used more informally to refer to something "standard" or "classic". For example, one might say that Euclid's proof is the "canonical proof" of the infinitude of primes. There are two canonical proofs that are always used to show non-mathematicians what a mathematical proof is like:
Owing money you can’t pay can be a painful, shameful feeling that most people would want to block out — but ghosting someone who lent you a hand when you were down is always the wrong move.
Of course, every personal financial situation depends on a number of factors — what you earn and owe, your cost of living and your financial goals — but bad spending and saving behaviors are ...
In the case of home loans, if the borrower defaults on the loan, the bank would have the legal right to repossess the house and sell it, to recover sums owing to it. Similarly, a loan taken out to buy a car may be secured by the car. The duration of the loan is much shorter – often corresponding to the useful life of the car.