WHY CHOOSE ICASHLOANS ? : When you need cash quickly you want to work with a service that is reliable and experienced in the payday loan industry - iCashLoans is both. We pride ourselves on connecting our customers with the best payday lenders to meet their needs. Why waste time visiting dozens of websites trying to figure out which lender will serve you best? iCashLoans is the only site that you need to visit when you’re looking for a fast, secure payday loan.

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Our services are designed to help you find a reputable payday lender to work with. iCashLoans has a large number of lenders in our network, and we are confident that we can assist you in obtaining the best payday loan to meet your needs. Everyone hits a rough patch financially at some point, and payday loans are a great solution for short-term cash flow problems. You don’t have to worry about how you are going to pay an unexpected bill, or cover an emergency expense, between pay checks - iCashLoans is your source for finding payday loans. Using iCashLoans is 100% free to you - we do not charge any fees for our services. When you use iCashLoans you will save time and money. All you have to do is provide us with basic information and we will instantly search our network of lenders to find you the loan that meets your needs. At iCashLoans we pride ourselves on working with lenders that are fair and honest in their lending practices. Our main goal is to provide you with a great experience when searching for a payday lender. All lenders in our network are required by law to follow all of the rules and regulations related to payday lending. Don’t drive around town to visit payday loan shops, and forget about looking at website after website trying to find a loan with fair terms. iCashLoans is the only place you need to go to find a payday loan. We will search our vast netowrk of lenders instantaneously to find you the loan that you are looking for.

Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

Saturday, March 15, 2014

Obama's Treasury Loan Modification Guidelines For Homeowners

The Treasury Departments loan modification plan is being offered by lenders and features new, aggressive mortgage terms to qualified homeowners. 4 to 5 million borrowers are expected to apply for relief under President Obama's sweeping plan, called HAMP. Here is some information to help you determine if you are eligible.

The guidelines are standard for everyone, and under the federal plan lenders and servicers will be paid to modify qualified loans using a set formula. The goal is to achieve a new payment that equals just 31% of the household gross monthly income. That figure includes the principal and interest, property taxes, homeowners insurance and any homeowners dues, if applicable. The new mortgage payment will be arrived at by using a sequence of options, in this order:

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Reduce interest rate to as low as 2%, then Extend the loan term to 40 years, and finally if necessary Forebear or defer some principal

The Treasury loan modification plan also includes second loans as well as first trust deeds. Now when the first lien is modified, the second lien will also be eligible for an interest rate reduction to as low as 1%, and in some cases the lender may retire the debt altogether in exchange for a government lump sum settlement. This part of the plan was implemented to encourage homeowners to continue making payments on a home that has lost significant equity.

Participating lenders are required to review every applicant who requests help and determine their eligibility. So, even if you have applied previously you may request and apply for this Treasury Department loan modification plan. You will be asked to complete an application that includes a financial statement outlining your income and expenses. You must also provide proof of you income, including tax returns. A short telephone interview will also be conducted and based on the information you provide, a determination will be made to either approve or deny or application. If you send in a complete application package, you should receive your answer within 30 days.

HAMP has standard approval guidelines, and a 4 step formula is used to determine if the information you provide fits into those guidelines. You can use this very same formula to fine tune your budget so that you have the best chance of fitting the program criteria. You can take a lot of the confusion and frustration out of preparing an acceptable application by using a software program designed just for homeowners. The Loan Mod Quick App software allows you to simply input your income and expenses, and all the calculations are done for you. Your debt ratio, new target payment, new interest rate, disposable income and more are computed automatically. You can see immediately where any adjustments might be needed before your lender reviews your information.

The Treasury Department is also offering loan workout options to those struggling homeowners who are unemployed and who have lost significant equity in their homes due to the housing crisis. This part of the plan will offer temporary relief to give borrowers a chance to find a new job and get back on their feet. Also, if you have at least 9 months of your unemployment benefits remaining, you may be eligible for a loan workout plan.

The secret to success for homeowners needing a loan modification is to prepare your paperwork before contacting your lender. Take the time to work on your financial statement ahead of time, so that you can make any adjustments required to meet the approval guidelines. When you understand what your bank is looking for to approve your loan workout, you will have a much better chance of completing your paperwork correctly.

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