A hard money loan is often referred to as a private money loan. This type of loan is secured by real estate and is for the short-term. Conventional lenders are usually credit unions or banks. Hard money loans are funded by groups of investors or private investors. The term is generally twelve months although this type of loan can often be extended to two to five years. The monthly payments can be interest and principle or just interest and there is a balloon payment when the term ends. The amount of the loan is based on the value of the real estate used as collateral by the borrower.
The main concern of a hard money lender is the value of the property, not the credit of the borrower. Despite this, the lenders generally place some importance on the credit of the borrower. Hard money loans are often acquired by individuals unable to obtain financing due to a short sale or a recent foreclosure. If the individual still has enough equity in the property and is willing to use the real estate as collateral, they can receive a hard money loan. This is a good option when the banks have refused to issue a loan.
There are numerous types of properties that qualify for a hard money loan. This includes both single and multi-family residential properties, land and industrial and commercial properties. Some hard money lenders specialize in specific types of properties and will not grant loans for any other type due to a lack of experience in other areas. Extra regulations and rules prevent most of these lenders from providing a loan on any residential property occupied by the owner. Some are willing to do the additional paperwork and grant the loan.
Hard money loans are an option when conventional financing is not available. The approval process is also much shorter than with a conventional loan. This type of loan is ideal for individuals with credit issues, fixing and flipping houses, fast action by a real estate investor, construction loans and land loans. In most cases, a hard money loan is received in about a week. The average time necessary for a bank loan is 30 to 45 days. The application process rarely requires more than one or two days and the loan may be approved the same day.
One of the biggest advantages of a hard money loan is the fast funding. This is especially true for real estate investments with a need for a fast close or numerous competing bids. The borrowers have also been rejected for a conventional loan by the banks. This can happen due to credit issues, foreclosures and short sales. Banks require a solid income history. This works against anyone who recently began a new job despite the amount of their income. Hard money lenders are not concerned with these issues. All they require is equity in the property and repayment.
The points and interest rates hard money lenders charge vary between the different lender and regions. In areas where a lot of hard money lenders are located, the rates are generally lower due to the competition. A loan from a hard money lender is riskier than when granted by a bank. This means the interest rates will be higher than for a more traditional loan. The interest is determined by the lender but generally ranges from ten to fifteen percent. The lender will factor in the risk for the loan in the interest rate.
The primary concern of any hard money lender is the equity of the borrower because this is the collateral for the loan. The credit rating is considered much less important. If the borrower has enough capital available to make the loan payment in addition to the equity, chances are good the loan will be approved.
Why Do You Need a Divorce Lawyer
Deciding to get a divorce from one’s spouse is a painful decision. It is an emotional time when people are not at their best. Many people make the decision not to hire an attorney when seeking a divorce. They assume that they will be able to save money by not hiring an attorney. They also feel that if they don’t hire an attorney, the dealings with their soon to be ex-spouse will proceed more amicably.
While people may not wish to get a lawyer when seeking a divorce, there are some important reasons why a divorce lawyer should be retained. As in all legal matters, it is important to have an expert who is helping out.
Hiring an attorney for divorce representation insures that all of the laws pertaining to divorce in a given state will be followed correctly. Each state has its own laws regarding divorce and the division of marital assets. If a person seeking a divorce does not understand all the ins and outs of the state laws, that person may get a divorce settlement that is not what it should be. An attorney will know the law, and the attorney will look out for the client’s best interest.
Hiring an attorney for divorce representation also helps to reduce some of the stress involved in obtaining a divorce. It’s hard enough dealing with all of the emotions surrounding the situation without the added pressure of handling the divorce case as well. A divorce lawyer can handle all of the paperwork that is required in the divorce proceedings. When a good divorce attorney is hired, he or she will take the burden of handling the legal issues. The client can leave the legal wranglings in the attorney’s hands.
A Long Island divorce attorney should definitely be retained if there are child custody issues in play during the divorce. The attorney will be familiar with the procedures of family court, and the attorney will be able to advise the client as to how to obtain full custody or joint custody if that is desired.
When it comes to the final financial settlement and the payment of alimony, an attorney has the information as to what is a fair and legal settlement from handling similar cases in the past. An experienced divorce attorney will know how to reach the best settlement for the client, and the attorney will be able to get an agreement for the most fair and correct amount of alimony.
Finally, a divorce lawyer can help move the case along through the court system at the proper pace. A good attorney will know how to work around any delaying tactics that the opposing council might try to put up. A divorce attorney helps to insure that the divorce is settled in a timely manner.
While going through a divorce is a difficult experience, it isn’t an experience that people have to go through alone. A divorce lawyer can provide the assistance needed to make sure that the divorce is carried out legally and fairly in all respects.
What Is A Waist Trainer And How Do You Use It?
For those of you keeping up with your celebrity gossip, it’s likely you’ve heard of the newest fad called the waist trainer. This type of product has been used by many popular celebrities who have shown great results with them. Understanding just what a waist trainer is and how you use it can be the difference between a successful shrinking of the waist and an unsuccessful one.
Waist Trainers Of The Past
When you hear the words waist trainer, you probably think back to the 1800s where women wore corsets to help exaggerate the hourglass shape of their body. It’s likely you’ve seen some of those movie scenes where women have help pulling their corsets tighter and tighter to help rearrange the excess fat in their rib and stomach area. Wearing these types of trainers often allowed for a semi-permanent change of the core region.
Waist Trainers Today
Today, the concept of waist trainers has reinvented itself to a more permanent method of reshaping the waist region of the body. Made with various materials and tightening systems, women are finding waist trainers more comfortable than ever to wear on a regular basis. Whether it’s at the gym, going out on a date, or just a regular day at the office, waist trainers are secretly worn by many women.
These waist trainers serve the purpose of reshaping the abdomen over time. The best part is that when you initially put on your waist trainer, it will instantly transform your waist to be two to three times smaller than it actually is. That’s motivation to get you started while the waist trainer works its magic week after week to reduce your waistline and restructure that must-have hourglass figure.
Tips For Using Waist Trainers Safely
One of the biggest concerns that women have about waist training is their safety. This is no big surprise considering the number of problems that were had with the traditional corsets. Fortunately, waist trainers are made with your safety in mind. To ensure you’re using them correctly, here are some safety tips to remember.
- Always wear the right size. A waist trainer that’s too small is not healthy for your body.
- When it comes to fit, you need to consider your body type. There are various waist trainers available for different body types so they fit comfortably.
- Start with waist training two hours a day and move on to go to around six to eight hours. Gradually doing more and more is the key.
- Don’t forget to take some off days from waist training.
Hints For Finding Just The Right Size
Having the right waist trainer makes the difference between being comfortable and potentially harming yourself. While it can be very easy to tell when you’re in the wrong size, there are some easy tips you can use to ensure you order the right size from the very start.
1.) Get a fabric tape measure.
2.) You want to stand up with your back straight. Now, bend from side to side. The natural point at which your body bends is where you want to measure.
3.) Use the fabric tape measure to your waist at it’s narrowest point. You don’t want to pull the tape measure too tight or have it too loose either.
4.) Next, you want to measure the widest part of your hipbones.
5.) Lastly, you want to measure the fullest part of your bust.
Realize that finding the right size will ensure that the trainer is effective at rescultping your waist. Also, it will provide the most flattering results when you wear it regularly.
Negotiating a Settlement
Even before you discuss the accident with anyone, your first move should be to consult a personal injury lawyer. This is because the insurance company representing the person or entity responsible for the accident will be quick to offer a settlement. While it may be appealing to accept a quick cash settlement, the offer will likely be insufficient to cover your medical treatment, property damages, loss of work time, and other damages. A San Diego personal injury attorney can negotiate with the insurance company on your behalf and may be able to get them to offer a fairer settlement. In many cases, a skilled attorney can get you the settlement you need without having to file a civil lawsuit at all.
Moving Forward with Your Case
In some instances, negotiations will fail and the case will have to be settled by a jury in civil court. If you have already hired an attorney, he’ll be up to speed on the facts of your case, which will be helpful as he prepares to present the case to the jury. This means gathering evidence and contacting witnesses. While you may be able to do this yourself, the attorney has the expertise to better understand what evidence and testimony will be the most compelling. Additionally, most personal injury lawyers have expert witnesses, who can be called in to testify on your behalf.
Dealing with Creditors
When you’re involved in a serious accident of any kind, it likely will result in your hospitalization and the need for ongoing treatment. This usually means missing work, which results in an inability to pay your existing bills. The financial instability that the accident creates will likely result in creditors hounding you for payment, but your personal injury lawyer can alleviate the stress of that situation. If you tell your lawyer what creditors you owe, he’ll contact them and explain the situation to them. In many cases, creditors will back off, if they know the details of your situation and have an idea of when you’ll be able to resume payments.
Procedural Law Requires a Skilled Lawyer
In addition to presenting your case to the jury, your lawyer will be working behind the scenes to make sure everything goes smoothly. This means meeting court deadlines and submitting the necessary documents to the court, so the case can move forward. Again, this may be something you feel capable of doing, but remember that a missed deadline may result in the court dismissing your case. Your attorney will know how to file for extensions and make other court pleadings to help your case.
While many worry about the added financial burden of hiring a personal injury lawyer, the cost is well worth it. Your first consultation with a personal injury lawyer will be at no charge and the attorney will deduct his fee from the settlement, or award. This means you’ll have to pay very few expenses out of pocket. Paying this sort of contingency fee ensures the lawyer will do everything he can to win your case and earn a settlement that will cover the expenses caused by the accident.
Typical loans are often the route most people go down when in need of money. Banks, credit unions and other lenders can offer good-standing businesses loans with long repayment terms and lower interest rates. However, these loans can come with strict approval guidelines and it may take weeks to receive your funds. With a merchant cash advance, the money a business applies for may be available to use within a few business days.
What Exactly Are Merchant Cash Advances?
In simple terms, merchant cash advances are a tool for a business to use when they are in need of a lump sum of capital. These advances are usually repaid in a shorter timeframe than traditional loans are. Traditional loans are usually repaid back with equal monthly payments that are agreed to when you first apply. The advances are paid back to the lender differently. The amount a business pays back each week or month is dependent on the amount of sales volume they receive. This allows a business to get the capital they require without putting the financial security of their business at stake in the meantime.
Benefits Of Merchant Cash Advances Bad Credit
The main benefit of a merchant cash advance is that a business is able to quickly get access to funds they need for important business matters. Many lenders allow business owners to apply conveniently online and get the funds in a few days after approval. Unlike a traditional loan that has predetermined payments amounts, a merchant cash advance allows borrowers to make payments according to their sales. If a business has a slow week, the amount they pay towards their advance will be smaller. This can be very beneficial for a business that has drastically changing revenue.
Lenient Criteria For Approval
Another great benefit of applying for a merchant cash advance over a traditional bank loan is that the criteria needed to be met for approval are generally more lenient. Banks and other traditional loan lenders will generally only approve businesses for loans when they can prove good revenue, have a great credit score and have been in business for many years first.
No Collateral Necessary
Apart from other types of lending options, a business will not be required to put up any collateral for approval of a merchant cash advance. Instead, a lender will look at the current sales of a business in order to get a good idea of how much of a loan they can afford and if a borrower will be able to pay the advance back. If you have a solid revenue stream and business history, yet are lacking a good credit score, this might be the best option to consider when in need of capital.
Running a successful business takes a lot of hard work. Having the right financing options at your fingertips can be hard to find. When you are in need of money quickly, a merchant cash advance can really be a lifesaver for your business. They can be expensive to borrow, however. It should be noted that other loan options might be more beneficial in some cases. All options are worth looking into for the sake of your business. If you are planning on making changes to your business in the future, a healthy credit score and solid business foundation can make you able to get any type of loan you need.