Installment Loan Contract With Monthly Payments In Fulton
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FAQ
An installment contract is a single contract that is completed by a series of performances –such as payments, performances of a service, or delivery of goods–rather than being performed all at one time. Installment contracts can provide that installments are to be performed by either one or both parties .
An installment contract offers a buyer less protection than a traditional mortgage. This is true mainly because of forfeiture provisions, which give the buyer no right of redemption and allow a buyer to lose all interest in the property for even the slightest breach.
Payment options include full payment, short-term payment plan (paying in 180 days or less) or a long-term payment plan (installment agreement) (paying monthly).
How to Request a Payment Plan Log into GTC. Navigate to the More… ... Review the payment plan terms. Enter your banking information. You may enter a down payment amount and date, if so desired. To continue, you must agree to receive electronic notices regarding your payment plan through GTC and provide your email address.
Setting up the payment plan Calculate the total amount due and the payment schedule. Determine the payment amounts, due dates and payment method. Write the agreement, detailing the payment plan. Include the date of the agreement and the parties involved. Get both parties to sign the agreement.
At Fulton Bank, we make it easier to get the things you want in life. From a variety of mortgage solutions to meet your specific needs to auto and personal loans with competitive rates, we can help fund your dreams.
