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Payday loans – cheaper way of planning funds

2013 May 28
Posted by LoanStar

The Consumer Financial Protection Bureau (CFPB) is one of the most reputed organizations in US for protecting the interests of the consumers at wide while dealing with their financial decisions. Recently, payday loans has become a really niche business in USA and to have an insights in this business from the consumer welfare point of view, the CFPB decided to carry an in depth research. The white paper was published on 24rth of April 2013 under the head “Payday Loans and Deposit Advance Products”. The whole research was carried out by interviewing people who took out payday loans and ultimately aimed to provide a blue print on how to regulate the correct attitude to protect consumers and safeguard that they have entrance to a small loan market that is fair, transparent, and competitive.

The financial situations of US consumers who are in heavy debts seriously need small dollar loans from lenders. Payday loans certainly provide these small dollar loans against the next pay cheque to be received by consumers. The regulations which are under discussion right now needs to protect these consumers from the burden of these loans carrying huge costs and stop them entering into a cycle of repeating borrowings. Meaning by the debts shall end at the end of the day for consumers.

The CFPB concluded in the research that the small short term payday loans are certainly fulfilling the needs of consumers but they shall also understand the consequences of failures to repay them. If repayment is not done in time then consumers may caught by larger debts for a longer period of time and that too with almost a gambling habit of rotating these payday loans one after another.

Today both banks (called depository institutions in the white paper) and private lenders serve payday loans no credit check. The access of the funds is rapid fast, the application can be made online and funds are directly received in the checking account details provided by consumers. There is no credit check, registration of security or in depth analysis of consumer background.

What is required from the lenders side is the regular income or job on hand. If there are more than one job then one can easily bear the costs of payday loans and the eligibility of amount of payday loans can be even higher.

The payday loans no credit check are available with cooling off periods. The repayment period is usually 24 hours to be extended till the next pay is available to consumers. Not just that the extensions in the payday loans is also available at the discretion of the lenders exclusively.

Payday loans no credit check are available without any discrimination. Any age, gender or race can get payday loans without any questioning and for any use the consumers want.

The regulations under pipeline can bring lot of relaxations on the part of consumers. They will make payday loans even more approachable than before, given the regulations are made in favor of consumers.

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A Beginners Guide to Payday Loans

2013 March 29

Payday loans seem to be a possible solution to meet your emergency money requirements. Payday Loans are the short term unsecured loans for minimal amounts. Payday loans can be used to serve any purposes such as paying medical bills, automobile repair, and repayment of any other loans or to avoid the bouncing of any other check. The emergence of multiple online payday loan companies has made the payday loan a more easy option for the people as the processing formalities have become easy. Moreover the payday loans do not involve the hassles of credit checking

It is a short term loan that is beneficial when you require urgent cash in the middle of the month and you can’t wait for next payday to satisfy those requirements. Because of its short term period it has higher interest rate as compared to other loans. Even being a bad credit holder, will not restrict you to go for no fax payday loan. No fax payday loan is one of the fastest loans available in the financial market. You can obtain this loan within a few minutes of application.

The basic criteria to qualify for a payday loan is this much – the applicant have to be a US citizen, age above 18 years, an employment with income not less than $1000, and a checking account. You have to submit the application with the details of your employment and a post dated check for the amount.

  • Health expenses
  • Tuition fees
  • House rent
  • Water and electricity bills
  • and many more…

The benefits which the bad credit no fax payday loan offers can be explained in brief as:

  • Convenience: Bad credit no fax payday loan offers convenience of application. That is, a person can apply from anywhere and at any time. In this case, there is no need to go to the lender in the physical market. The whole process takes place online.
  • Quick processing: In such loan, an application form is processed faster than time taken by the lender in the physical market.
  • Reduced cost: As a payday loan carries a high rate of interest and involves high cost, it is generally seen that the companies eliminate or reduce the processing cost (as the case may be). This enables the loan to become cheaper.

Bad credit no fax payday loan is attached with the risk of non payment of loan. The reason is that already the pay day loans carry high cost and high rate of interest. Thus, the person with low pay cheque may find difficulties in repayment.

You can choose from a number of lenders who have years of experience in financial industry. Before you go for a particular lender make sure that he has a good record in lending business. Always check terms and conditions of every lender so that you can you don’t have to face tribulations while applying for no fax payday loans. You can get complete guidance related to no fax payday loan on the Internet.

Information On Finding An Online Debt Consolidation Loan Program

2013 March 25
Posted by LoanStar

In today’s economy, it’s incredibly important for individuals to learn how to manage their debts. With living expenses such as housing costs and car insurance payments rising, people need to learn how to manage their money wisely.With no proper cash management methods, you will discover that controlling your expenses could be incredibly hard. If you’ve a number of loans that you want to consolidate, you might like to get a few information concerning online debt consolidation reduction loans.

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Positive Economic Signs Lead To Rise In Mortgage Rates According to ForTheBestRate.com

2013 March 19


Wilmington, NC (PRWEB) March 18, 2013

Fixed Mortgage rates moved higher this week reports ForTheBestRate.com, a consumer focused mortgage research website. Pricing advertised in the rates tables on the website reflected the small interest rate increase as mortgage banks and lenders adjusted their pricing in reaction to signs of improvement in the economy such as the drop in the unemployment rate to 7.7%. On Friday, March 15th, 2013 30 year fixed mortgage rates as low as 3.250% (APR: 3.411%, Points: 2.000, Fees in APR: $ 0, Lender: Pleasant Valley Home Mortgage) were posted.

15 year rates were advertised as low as 2.375% (APR: 2.661%, Points: 2.000, Fees in APR: $ 0, Lender: Roundpoint Mortgage Company,) and 5 year adjustable rate mortgage rates as low as 2.000% (APR: 2.724%, Points: 1.000, Fees in APR: $ 0, Lender: Roundpoint Mortgage Company.)

Mortgage pricing data released Thursday, March 14th, 2013 in the weekly mortgage rate survey from Freddie Mac, a government sponsored enterprise and purchaser of mortgage loans on the secondary market, also showed the uptick in pricing. 30 year fixed rates averaged 3.63% (0.8 points) for the week ending March 7th, 2013, up from 3.52% (0.7 points,) the average one week earlier. 15 year mortgage rates were also up, though by a smaller margin, moving to 2.79% (0.8 points) on average, from last week’s 2.76% (0.7 points) average.

5 year adjustable rate mortgage pricing fell slightly, to 2.61% (0.6) on average from 2.63% (0.5 points) the week prior.

“Signs of economic improvement coupled with mortgage rates that remain very very low can create an ideal situation for home buyers,” commented Shaun Hamman, VP of Residential Lending at American Financial Resources. “Though rates have crept up somewhat in recent weeks, feeling positive about one’s personal financial situation is generally more of a deciding factor when it comes to buying a new home than interest rates moving an eighth of a point one way or the other,” he continued.

Current mortgage rates for a number of different residential mortgage programs can be viewed on ForTheBestRate.com. Below is a snapshot of mortgage rates for a variety of products listed on the site on 3/15/2013. Albuquerque, NM mortgage rates represented in this sample. Rates are subject to change. Please visit the site to view the criteria used in the survey.

30 Year Mortgage Rates

AimLoan.com – 3.250% Note Rate, 3.431% APR, 1.039 Points, $ 1995 Fees in APR

LenderFi – 3.375% Note Rate, 3.472% APR, 0.000 Points, $ 1990 Fees in APR

15 Year Mortgage Rates

LenderFi – 2.500% Note Rate, 2.672% APR, 0.000 Points, $ 1990 Fees in APR

First Internet Bank – 2.625% Note Rate, 2.749% APR, 0.000 Points, $ 1428 Fees in APR

10 Year Mortgage Rates

Roundpoint Mortgage Company – 2.500% Note Rate, 2.500% APR, 0.000 Points, $ 0 Fees in APR

CapWest Mortgage – 2.500% Note Rate, 2.836% APR, 1.000 Points, $ 997 Fees in APR

5 Year Adjustable Rate Mortgage Rates

AimLoan.com – 1.625% Note Rate, 2.738% APR, 1.609 Points, $ 1995 Fees in APR

EverBank – 2.375% Note Rate, 2.814% APR, 0.000 Points, $ 855 Fees in APR

About ForTheBestRate.com

ForTheBestRate.com is a website that offers information regarding mortgages, insurance, and personal finance. ForTheBestRate.com is owned by CMG Equities, LLC based in Wilmington, North Carolina.







Becoming financially responsible

2013 March 18
Posted by LoanStar

Companies, as well as individuals need to be smart with money.  Financial responsibility is a key trait that everyone from children to adults should possess. The harsh economic time of the present need proper management of money so as to live a considerably comfortable life. You do not need your creditors to auction your assets or your family going without food at the mid of the month. What you need are financial management tips. Here are a number of such tips towards a proper financial management:

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Why Get a Payday Loan?

2013 March 11
Posted by LoanStar

The economy has been tough these past few years and even though we are slowly recovering, the prices of commodities are still increasing. Cost of living is definitely getting more expensive every day. Sometimes even having a stable monthly income is not enough. Unfortunately, any time there might be emergency expenses that we need to pay for. Like for example, something got broken at your home and urgent repair and maintenance would be needed. With so many bills every month, there may not be any money left to cover for these emergency expenses. Of course nobody wants to miss payments as this will also damage your credit history. With this urgent financial need, the best solution would be to get a loan.

What are payday loans?

Payday loans are unsecured short term loans that the borrower needed to pay on his or her next payday. At the same time, these loans are only in minimum amounts. They are being offered by private individuals and businesses. They differ from banks because there are certain qualifications and numerous requirements before you can even apply for a loan in a financial institution. At the same time, banks require excellent credit history and at times a collateral for your loan to be approved.

Reasons to get a payday loan

With an urgent financial need, the best solution is to get a payday loan. First of all, payday loans require minimum qualifications. You do not need to have an excellent credit history. A bad credit would not hinder you from getting a loan. As long as you are employed and can pay on your next payday then you can already apply for a payday loan. At the same time payday loans are easy and very convenient to acquire. As long as you have access to the internet, you can easily search and find a lender of a payday loan. Application is very simple, just fill up the online form and you can expect a reply from an agent within 24 hours. If you clearly understood and agree on the terms and conditions of the loan quickly then most likely, approval will also be given right away and in no time the money will be deposited to your bank account.

Let’s face it, with financial obligations needed to be settled immediately you no longer have time to look for other sources of income. And even if you qualify with the bank’s requirements, approval and waiting time would take a while. With payday loans you can expect to get the money fast, apply conveniently at the comfort of your homes, convenience in payment since they will be automatically deducted to your bank account come payday, very low qualifications and numerous lenders to choose from. These are just some reasons to get a payday loan. At least, you won’t have any problems anymore as you can pay for your bills without sacrificing your credit record and exerting much effort. Your credit history will not be damaged and you can shoulder your expenses right away.

Six circumstances where payday loans may come in handy

2012 October 11
Posted by LoanStar

Payday loans have been given a bad press in the mainstream media recently for their excessive interest rates and questionable marketing tactics.

However, there’s no denying that for some people – in certain circumstances – payday loans can be a valuable asset to have at your disposal.

Because the best payday loans are easily accessible and you can receive the cash in your bank account within 24 hours, the loans can be a saving grace for those looking for an instant boost to their finances to fund an unexpected outlay.

Here are just six reasons why someone might consider the use of a payday loan.

1. Household bill

You’ve got a leak, a problem with your heating or your water seems to have been turned off. These are just some of the problems that you could face as a homeowner and ones that need urgent attention from specialist engineers, plumbers or professionals – all of whom will be expecting to be paid!

2. Car repair

Your car has broken down and it needs to be fixed as soon as possible. Why? You use it to travel to work or take the kids schools – it has become essential transportation and must be fully operational.  Depending on what ought to be repaired, the bill will may need to be paid promptly.

3. Rent

The Landlord is putting you under pressure to pay your rent and you could face eviction if the bill isn’t paid on time. Taking out a payday loan to cover the expense would certainly be better than being chucked onto the streets, wouldn’t it?

4. Medical or dental bills

Whether you’re undergoing treatment under the national health service or enlisted with a private alternative, you may need to pay considerable expense for an urgent operation. When cash is hard to come by, a payday loan could be a viable option.

5. Replenishing the fridge

If you’re someone who looks after a family then you’ll know how vital it is to put food on the table.  The bigger the family, the more expensive it can prove. With this in mind, taking out a payday loan could be an excellent way of funding a small cash boost to cover the weekly shopping budget.

6. Christmas shopping

It’s arguably the most expensive time of year – Christmas. You want to reward your loved ones with gifts but simply can’t afford it. Why not take out a payday loan and take on some extra hours either during or after the holiday season to cover the cost.

Don’t Make These 5 Loan Mistakes

2012 September 21
Posted by LoanStar

Buying a car or a home can often mean that you have to take out a loan. Since most of us don’t have thousands of dollars lying around, it’s probably safe to say that you’re going to have to go loan shopping sooner or later. Well, before you start your loan hunt, there are a few things that you’re going to want to do before applying. Since so many people make mistakes with their loans, here are five things you must look out for before applying:

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Enrich Your Lifestyle with Quick Cash Advance Loans

2012 September 6
Posted by LoanStar

Quick cash advance loans are the quick and simple solution to all your cash flow problems. Sometimes your salary or monthly income does not meet all your expenses and you may need a little extra to tide yourself over until your next payday; this could lead to financial stress. But fear not, there are cash advance loans available to relieve you from all your stresses and tensions.

get quick cashThese payday loans allow you to borrow the required money to meet your unexpected or unplanned expenses. You don’t even need to give your reasons for borrowing the money, so you can make use of the money borrowed for any purpose. You can use it for your weekend plans or to buy your favourite gadgets which enrich your life style.

These loans are short term in nature and you have to repay them on your next payday. However, you can extend the due date but some additional charges will be imposed. As these are short term loans you can only borrow a small amount of money, ranging from £50 to £1500.

To apply for these loans you need to meet the following simple eligibility criteria:

  • Your age must be above 18 years old
  • You must be in permanent employment
  • You must be a citizen of the U.K
  • You must possess an active checking bank account

As the name indicates these loans provide quick cash. All that you need to do to avail these loans is to fill in a simple and easy online application form which takes just a few minutes. This form requires your personal information including your name, address and date of birth and it also stipulates that you provide your checking bank account details. You can apply for these loans from anywhere and at any time provided there is internet connection.

If you are facing a serious financial crisis and have a very low credit score still you can avail these cash advance loans. The lenders will not check your credit report to approve you for the loan. So, you can easily avail these loans without any price variations.

Some traditional loans require you to secure your loan by providing your home or other assets as collateral, but these short term loans are unsecured and do not require any collateral to approve you for the loan.

The lenders of these loans will verify your details and approve you for the loan when they receive your application. As soon as they approve you they should credit your account within 24 hours.

So make use of these loans to pay any off your bills or to buy your favourite gadgets which enrich your lifestyle.

Author Bio

My name is Alicia. I am a tech writer from UK. I am into Finance. Catch me @financeport

 

VA Home Loan Limits Raised to $518,750 in San Diego through December 31, 2012

2012 August 31
Posted by LoanStar


San Diego, CA (PRWEB) August 31, 2012

The Honoring Americas Veterans and Caring for Camp Lejeune Families Act of 2012 has been signed into law, raising the VA home loan limits in San Diego.

 

The Act includes a number of changes to the Department of Veterans Affairs Loan Guaranty program, including reverting back to the previous method of calculating maximum guaranty. This resulted in some loan limits increasing, including in San Diego County, whose VA loan limit increased to $ 518,750 from $ 477,000.

 

That extra $ 40,000 could make a big difference for many veterans, said Russ Schreier, Vice President of Sales for Samuel Scott Financial Group. It could mean an extra bedroom, better neighborhood or outdoor pool. With rates at historic lows, a VA borrower could use that extra $ 40,000 and it would cost them less than $ 200 per month more in mortgage payments.

 

These changes in the VA loan limits apply to all loans closed August 6, 2012 through December 31, 2012. Loan limits for the 2013 calendar year will be posted once VA receives median price data from the Federal Housing Finance Agency (FHFA). Typically this information is received in November of each year.

 

Should the loan limit for a county decrease in 2013, VA will guarantee a loan using the previous higher limit if there is proof of a pre-approval based on a sales contract or URLA executed on or before December 31, 2012.

 

Even if you arent ready to make a purchase in 2012, veterans should strongly considered getting pre-approved for a loan now, said Schreier. The VA is going to guarantee the loan at the higher limit, so the borrower is protected if the loan limit drops in 2013.

 

With a government-backed guarantee and no down payment requirements, VA loans are an incredible attractive home loan option. The program allows veterans with qualifying income and credit to purchase a primary residence without putting any money down towards the sale price of the home, as long as that sale price does not exceed the appraised value of the home.

 

If 100% financing isnt enough, there are even more benefits to applying for your VA home loans for veterans who are ready to purchase a home:
VA home loans are assumable, provided the person assuming the loan is qualified.
Veterans closing costs are limited by VA, making sure you wont be asked to pay more than a fair price for closing costs.
You have the VA behind you offering additional assistance if you ever find you are having problems making your home loan payments, at any time in the future.
Veterans can prepay their VA Home Loans without a penalty.

There are more than 25.5 million veterans and service personnel eligible for VA financing, with a large population located right here in San Diego. If you would like to find out if you are eligible for a VA loan, what your interest rates would be and what your mortgage payments would look like, contact one of our expert Mortgage Advisors. They have the experience and the resources to help you find a financial solution that will fit your unique needs and expectation.

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