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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About Us:

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.

Sunday, May 4, 2014

Obama's Federal Government Loan Modification Program - The Formula to Find Out If You Qualify

The Federal Government has set aside $75 billion dollars to help struggling homeowners with a loan modification program so they can avoid foreclosure. The goal is to help 5 to 6 million families get a lower mortgage payment so they can afford to stay in their home. This plan is not for everyone-find out if you may qualify for help by learning the formula your bank will use.

Who qualifies for this loan modification program? Here are some general guidelines for eligibility:

Homeowners must live in the property as their primary residence Loan must have been originated prior to January 1, 2009 Not required to be delinquent on payments, but must demonstrate financial hardship now or in the near future Must be able to provide proof of income and have a current mortgage payment that is greater than 31% of your gross monthly income Loan amounts of $729,750 or less for 1 unit properties-higher for 2-4 units

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What are the primary features that will be offered to qualified homeowners to arrive at an affordable payment based on 31% of their gross monthly income?

Reduce interest rates to as lower as 2% Extend loan terms to 40 years Principal reduction with the Government sharing in the costs with lenders

What is the formula the lenders will use to determine who qualifies?

Arrive at a target payment by multiplying the gross monthly household income by 31% Subtract the monthly costs for homeowners insurance, property taxes, and any homeowners dues = the new principal and interest payment Using the current loan amount, reduce the interest rate to as low as 2%, extend the term to 40 years and if necessary defer or forgive some principal balance to achieve the target payment If the target payment can be reached using the standard methods of modification, then the homeowner is a good candidate for assistance.

While this loan modification program is voluntary, most lenders and servicers are expected to participate. The Federal government is offering financial incentives in the form of $500 payments to servicers and $1500 to mortgage holders that offer a loan modification program to their borrowers as well an annual payments. In addition, homeowners who stay current on their new modified loan will be given a monetary incentive for each year they remain current, for a total of $5000 at the end of 5 years.

A successful homeowner will understand what paperwork will be needed to submitted to their lender and, just as importantly, how to complete their paperwork properly so the loan modification application is processed quickly. You can use the very same formula your lender will use to pre-qualify yourself and adjust your budget before the bank reviews your application. Do you know how to figure your own debt ratio and determine your new target payment? This is critical so that you can make any necessary adjustments to your monthly budget in order to fit into the approval guidelines.

If you feel like you would like some help to make certain that you have prepared your application correctly, take advantage of a software program designed to mimic the federal guidelines. All you have to do is input your own monthly income and monthly expenses and all the calculations are done for you automatically. Your debt ratio, target payment, new interest rate, disposable income and all the other critical figures are immediately calculated. This helps you to fine tune your application so that you have the best chance of qualifying for assistance with your mortgage. Avoid mistakes and save hours of time and frustration-get it right the first time.

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