Bridging Finance BasicsWritten by Darren Yates
Bridging finance is a short-term loan that is used as a way to provide funding for purchase of a new property while borrower awaits sale of an existing property. Unless all stars are in perfect alignment, it’s tricky to coordinate sale of one property and purchase of another property so that transactions occur simultaneously. Bridging finance or a “bridge loan” as it is more commonly referred to, makes such transactions possible. They keep borrower from ending up in a dire financial situation as can happen when forced to pay two mortgages at same time. Bridge loans can be used either for business or for personal reasons. Primarily short term in nature, process for obtaining a bridge loan is similar to that of most types of loans. Most importantly, it’s advisable to work with a lender that has experience with this type of loan. Also, since need for a bridge loan often arises with little advance notice, being pre-approved for such a loan is a good idea. Bridge loans typically are structured as interest only loans meaning that borrower pays only interest on loan each month. The borrower continues with this repayment plan until property loan is being used for is sold. When sale finally does occur, proceeds of that sale are used to repay principal. The principal payment typically is in form of a one-time, lump-sum payment.
| | PayDay Loan Online - Quick Cash Advance Loans Online Are Very ConvenientWritten by Carrie Reeder
Getting a quick cash loan, cash advance or payday loan has never been easier than it is today, thanks to internet. Today you can apply and be approved for a payday loan or cash advance fast, in comfort of your own home. There isn’t even a check to deposit to receive your money. The money goes directly into your bank account without you even having to drive to bank and deposit a check. There is usually no credit check involved in quick cash loans or payday loans. If you are in a temporary bind for fast cash, getting a payday loan online is a very convenient way to go. Visiting a payday loan store at their physical location can sometimes be a hassle and can be embarrassing. Getting your payday or cash advance loan online is very discreet.There are some online cash advance companies that will require you to fax in proof of income and there are some online cash advance loan companies that can help you through approval process with no fax to send. No faxing payday loans can be very convenient, but sometimes you will pay higher fees for that convenience. Here are some things you should know before getting a cash advance loan online. Fees: The fees for payday loans or cash advance loans are usually around $20-30 per $100 borrowed, (usually per week). However, there is a company that, for your first payday loan, charges no interest at all. Thats right, your first payday loan with them is free of interest. There are also a handful of cash advance loan companies online that only charge $10 per $100 borrowed. (To see our list of recommended payday loan companies, click on link below)
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