PayDay Loan Online – How Do Online Payday Loans Work?Written by Carrie Reeder
How online payday loans or cash advance loans work? Online payday loans usually work by first filling out a pre-approval application. 90% of time, your credit is not pulled. Most payday loans are not based on your credit history, so, even if you have bad credit you are still welcome to apply. If having your credit pulled is a concern to you, check their FAQ’s page, that will usually tell you whether or not your credit will be pulled.After you have filled out initial application, you should receive a response on whether you are pre-approved or not. Responses vary, but most online payday loan companies will give you a response instantly. By clicking on link below, you can view our list of recommended payday loan companies and we will tell you which ones can give you a 30-second approval. If you are pre-approved, they will usually ask for some kind of income verification. Some online payday loan companies require you to fax them a pay stub and/or a bank statement. They sometimes want to verify that you have a valid phone number and email address. There are other companies who are “faxless” who help you get loan processed without you having to fax in any verification. These loans usually verify income by telephone.
| | Buying A Home After Bankruptcy - Get A Mortgage Loan After BankruptcyWritten by Carrie Reeder
If you have a recent bankruptcy on your credit and are looking to get financing for a home, there is hope. Buying a home with bad credit will just put more emphasis on other two factors needed to get a mortgage loan, which are; income verification and a down payment.After bankruptcy most lenders want you to wait at least 2 years from time of bankruptcy discharge before they will consider you for a mortgage loan. After two year waiting period is over, you should be able to get financing easily. You should also be able to get 100% financing as well. You can usually achieve this as long as at least most of your payments have been reported to credit bureau as having been paid on time since discharge of your bankruptcy. If you are looking to get a mortgage loan after bankruptcy sooner than 2 years from time of discharge, you will need to have almost flawless payment history since your bankruptcy discharge. Also, you may need to have a down payment. If you have even 3-5% to use as a down payment, that may be enough to help you get approved. There are ways to get a down payment for your mortgage besides having money saved in bank. Here are some ideas of ways to do that: 1. Borrow or ask for a gift from relatives. After you have financed house, you can usually go and take out a 2nd or 3rd mortgage up to full value of your house, and then you could repay relatives. Keep in mind that if you intend money to be as a loan only from relatives, you would need to disclose that to lender before you close. Lenders usually have regulations about where down payment is coming from and if you are not honest, it could be considered defrauding a lender.
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