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, May 17, 2014

Mortgage Loan Modification Help - Why Your Lender May Ask For a Good Faith Deposit


Homeowners who have missed many mortgage payments and want to apply for a loan modification need to be prepared to make an initial payment to their lender. In some instances, when you apply for a mortgage loan modification, your lender may ask for a good faith deposit. You need to know about this possibility, because if you are not able to provide what your bank asks for, your loan modification application could be denied. What is this and why might your bank want it?

A mortgage loan modification good faith deposit is often requested by lenders when a borrower has not made any home loan payments for many months. A good faith deposit could be equal to a portion of the past due payments and the bank will ask for that amount as a condition to complete the loan modification. When and why will the lender ask for this?

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Let's say that you fall behind on your payments and do not pay anything for many months. You apply for a mortgage loan modification and prepare your financial statements detailing your income and expenses. These forms show your lender that you while you can't afford the current high mortgage payment, you do have enough income coming in to pay your bills and can afford a new, lower modified mortgage payment. This is how you convince the bank that you are a good candidate for a loan workout. So if you haven't made any payments at all for a few months, you should still have some reserves left over, right?

The HAMP guidelines require that all loan modification terms include an escrow or impound account for the property taxes and homeowners insurance. This means that each month you pay 1/2th of your annual tax bill and insurance bill to your lender. The bank then holds this amount in reserve, until it is time to pay the bill and they they pay it for you. This is to avoid default on your taxes and to make certain that their collateral is always insured.

If your taxes are due soon, and there is not enough money in your current impound account, or if you did not have one previously, you may be required to deposit a sum in order to start up the impound account. This is another reason why you may need to have some money set aside to finalize your mortgage loan modification. While back taxes can be paid for you and then that amount added to your loan balance, an impound account may require some upfront funds from you. Don't let this be a reason to not be able to modify your loan!

Unfortunately, many homeowners spend the money that they would normally put towards their mortgage payment. Sometimes, that money that would have gone towards the house payment is used for other debts. But your bank wants to know that your home loan is your priority-that is why it is so important to hold onto some of the money that would have gone towards a mortgage payment. Being able to pay a good faith deposit to get your mortgage loan modification started could be the difference between help and losing your home. If your lender asks for a good faith deposit you need to be able to pay it, or you must have a very good reason for not having any money available and be able to document it. Try to put aside some money so that you will be able to pay a good faith deposit if your bank asks for it.

The federal program, HAMP, does not usually require a large upfront payment. Any missed payments can be added into the loan balance and included in the new modified payments. The Obama plan offers a very low affordable payment which is targeted to equal 31% of your gross monthly income. THis is a very good plan to apply for, and since it features standard approval guidelines it is recommended to prepare your application correctly to meet those guidelines.

There is actually a 4 step formula that the banks use to determine if a homeowner qualifies for the HAMP plan. You can take the frustration and confusion out of preparing your own application by using the Loan Mod Quick App software program-it actually does all of the calculations for you so you can be confident with your application. Whether you apply for HAMP or some other loan workout program with your lender, be sure you take a few hours to prepare your paperwork correctly for the best chance of approval.


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