Buy Now, Pay Later With Boat Finance

Previously, when boating didn’t have such popularity as it holds in this day and age, it was much more complicated to find a person or organization that would facilitate you a boat loan. Nowadays, the condition is the opposite, and the predicament of the buyer is seeking the suitable company to get a boat loan from. Usually, there are three main sources from where you can acquire a boat loan; your bank, your credit association in addition to financial service institutes, also recognized as marine lending specialists.

In the same way, there are 3 common types of loans presented to people who wish to gain boats on a loan. One of them is the “fixed rate and fixed term” sort of loan that has a uniform monthly payment is necessitated throughout the span of the loan.Following the very last disbursement has been finished, the boat has been totally compensated for. “Variable rate” loans don’t contain a fixed loan rate. The rate varies with distinctive rate indices. To give a precise understanding of this kind of loan, the adjustable duration has to be observed. Balloon payment loans are remunerated absolutely at the end of the loan period.

Many new or second-hand boat dealers employ their own finance supervisor for carrying on the handling of boat loans. These supervisors take into account such things like the filing the application form plus the stuff that have to be done to to finalize the deal in the shopper’s name. Many dealers are associated with the National Marine Bankers Association, an union of marine lending professionals. Make certain when issuing an application for a boat loan to indicate that you desire to deal with National Marine Bankers Association. doing it this way, you stand to obtain extra discounts off the transaction expenses.

Moreover, getting your boat funded by an attributed dealer can also be advantageous for you. First of all, such dealers generally have contacts with a number of sources for financing. Not only will there be a big possibility of you being able to obtain your loan, nonetheless, you may also have the probability to decide on which source you desire to get. Such dealers are also capable of giving manufacturer’s warranties for specific items. This will highly safeguard your boat finance. Also due to their connection with the boat manufacturers, dealers are able to give you discount outlets for specific brands in addition to models. These outlets can be “initial delayed payment”, “no interest for numerous months” or lessened prices for a particular duration.

The submission method may alter amongst numerous lenders. Lenders might accept loan applications by phone or via a complete application. Whether it is to be by phone or not is determined by the quantity of the boat loan requested. The bigger the amount, the more details have to be remembered. High loan levels require every single point to be written down in black and white in a entire application. In case credit inquiry is needed by the level of the boat finance loan, the applicant may be requested to give tax returns for a specific number of last fiscal years as in addition to personal income statement.

The information regarding credit standing is important when it’s about resolving the right size that might be supplied to you as a boat investment loan.

Previous to putting forward your applying form for a boat loan, certainly, you will need to have unquestionably settled on the boat that you desire to get the boat finance for. Some info regarding the boat as the year, make as well as model, extra equipments plus upgrades, all sums are put into the computation of the absolute worth or cost of the boat. The additional significant information you ought to be ready to give to the lender are as follows:

(1) the purchase price of the boat,
(2) additional fittings you are determining to install,
(3) tax expenses as well as
(4) documentary charges.

By tying up the boat finance application, you are allowing the lending company to look into your credit position. This is called the loan underwriting method. These methods will comprise observing your individual credit capacity as well as the true value of the boat to be invested. Your credit as well as your debt to income ratio will be determined. Then the factual market rate for the boat you wish will be investigated by investigating other boat sources as well as obtaining the average going price for the particular model as well as brand.

After all the above has been conducted, and if the results are favorable for the boat loan, then the contract will be settled and you will claim the boat. For supplementary security measures on the part of the loaner as well as the lender, the total loan transaction may be supplied to an Escrow service to cut back the possibility of fraud.

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Inn Financing Without Tears

You have been dreaming for years. Those glossy magazines and snazzy web sites with those wonderful, historic lodgings, glorious gardens, and inviting rooms are a regular mainstay. Your travels have taken you to places where you were greeted by strangers who treated you like old friends. You slept on feather quilts and abundant pillows, awakening to the aroma of fresh coffee and baked breads, then shared breakfast with others like yourselves: road warriors of the bed & breakfast circuit. You just love these quaint and ornate homes, the unfaltering hospitality, the sumptuous meals. After all, entertaining has always been a love of yours and you think, “We could do this!”

Cut to six months later: you’ve been talking to innkeepers about the Inn-keeping lifestyle, and they told you it wouldn’t be easy. You attended one of those seminars, and they told you it wouldn’t be easy. You’ve been taking stock of what it would really mean to quit that job or take early retirement and live on an innkeeper’s “salary,” and now you realize it won’t be easy. But this is Inn-keeping! You’ve always wanted to do this. It can’t be that bad, or why would so many take the plunge?

Good question. It’s a question that all prospective innkeepers must ask themselves. Just for a moment, let’s assume that you have satisfied yourself that you are, indeed, cut out for Inn-keeping. You would like to be your own boss, even if your life will be guided by your guests. You can still decide to close for a week (if you plan ahead) to take a vacation. You can always be closed on Mondays if you want. You are prepared for the cut in income, figuring you can get by fairly modestly, and besides, you have a little something extra from wise investments or pensions. You’ve been checking out ads on countless web sites looking for the perfect bed & breakfast for sale, have actually received information and consider yourself to be actively “in the market.” Well, maybe a couple of years away. That’s OK. It’s better to plan ahead and know what you’re getting into.

You are really serious about buying an inn now, and you want to make an offer but need to figure out exactly how to finance the purchase. This is where the dream of owning a bed & breakfast can start to slip away unless you’ve done your homework and planned adequately. Because financing is where most contracts fall apart.

A bed & breakfast inn is a hybrid entity. Alas, it’s neither a “house” nor a “hotel.” If it were just a house you wanted to buy, a lender would look at your available cash for down payment and closing costs, would review your income and “other debt,” would work with certain ratios to determine how much of your income could be used to finance a home, and could tell you, within a very narrow range, how much you could afford to pay for a house. No furniture. No business. You keep your job. That assumes, of course, that the house appraises out for the purchase price and your credit is squeaky clean.

For a hotel or motel, or maybe a convenience store or other business, a lender will look at the business, will examine and analyze the cash flow, will determine the value based on actual and projected cash flows, will consider how much you can put down initially (they generally want 30% plus with reserves for operating capital, etc., though there are exceptions). If all of this pans out, and you can convince that lender that you know what you’re doing (past experience in the same business, hopefully) you might get the loan and be on your way.

But a bed & breakfast? What’s that? It’s a bit large as a home, a significant portion of which will be used for business. This, of course, creates some interesting tax considerations when applying your rollovers, but that’s another story. A bed & breakfast is typically very heavily weighted by the real estate component as opposed to the business component, where that convenience store is often just the opposite. Nevertheless, the dream B&B you’ve found may, in fact, have a fairly decent cash flow. If it does, there are a number of avenues you can pursue. The first, and by far the easiest (though hardly the most common), is owner, or seller, financing.

If an innkeeper has owned the inn for a number of years, especially if they converted it into a B&B from a house, they may have experienced a substantial amount of appreciation and have little or no debt. Often these owners are interested in moving on and will consider owner financing as a good investment.

Like any lender, they will want to know your credit history, see a credit report, have a complete, certified financial statement from you, and will be confident that the cash flows from the business will cover debt service and living expenses on top of operations. However, don’t expect many sellers to finance 90% of the deal. Maybe you can buy a house with 5% or 10% down payment, but it’s unlikely that many innkeepers will finance that much. Keep in mind that, like a bank, security is paramount. You will be purchasing the real estate, the personal property (fixtures, furnishings, etc.) and probably will be paying for intangibles (good will) as well. Your initial investment will likely have to cover the intangibles, the personal property, and a substantial portion of the real estate. That can amount to a sizable outlay. You need to keep something in reserve for improvements you may want to make and to cover you in those slow early months.

Let’s say your seller doesn’t want to finance, and many don’t. They have other plans for their money. If the business is really solid and can be documented (current innkeepers take note!), the next best bet is often a local bank. Despite strict regulations about lending parameters, many bankers still take an interest in local ventures and, especially, real estate. If the loan is “non-conforming” but there is value in the property and a sufficiently large down payment to protect their investment, money may be forthcoming as a portfolio or “in-house” loan. An introduction to the local banker by the current innkeepers (if they’ve had a good relationship) can be a good way to get started, especially if there’s been any bank financing in the past.

If your intention is to acquire a full service inn with a restaurant, then the Small Business Administration (SBA) may be the best way to go. There are a number of banks and non-bank lenders who process SBA loans, some better than others, so shop around. Doug Carleton, who is an approved SBA lender and member of The B&B Team of Professionals, is one of the best. Remember two things above all else: restaurants have a very high failure rate, and most lenders are leery of making restaurant loans unless you have a track record to demonstrate your expertise. Also, SBA loans can be slow (depending on the bank) and expensive due to the SBA guarantee fees, so you need to be prepared for a process that may take six months and the expenditure of several thousand dollars in surveys, environmental studies, etc. Often times, however, the fees can be financed, and, if you are prepared and working with a good lender, the process can be expedited. Some SBA loans are assumable, so be sure to ask if the current owners have an SBA loan and look into its assumability.

As to bank financing, there are some lenders who will extend “no doc” (no documentation) loans. With 20%-40% down payment on the real estate, they will assume that you won’t walk away from the property, and if you do, their investment will be covered. How you pay for it, in their mind, is your problem. Please note that I said “real estate” not “bed & breakfast.” That down payment will apply to the appraised value of the real property, and you will have to pay for the personal property and intangibles separately. In the end, there’s still quite a lot of cash going out.

You’re starting to feel depressed. You’ve exhausted the banks, the SBA lenders have turned you down, the owner owes too much to finance you (or just wants cash), but you really want to buy and the seller really wants to sell. What to do now? One possibility, and this is usually a last resort, is the use of an investment company that specializes in the purchase of mortgage notes. In reality what happens at closing is that the owner finances the sale. He simultaneously sells the note to an investor (for a discount), the original loan is paid off, the seller goes away with cash, and you own the property but will be making your payments to the new investor who holds the note. The best way to make this arrangement work is to plan ahead with a note investor so that the interest rates, the amounts paid, the size of the discounts, etc. can be juggled to reach a happy medium that works well enough for everyone. In these cases, most likely the buyer will have to pay a bit more, the seller will walk away with a bit less, and the investor will be very happy! But if it works, who’s to complain?

Needless to say, there are many ways to finance a bed & breakfast or country inn, but none of them is without problems. Almost all will require a sizeable capital investment up front. In every case the entire financial picture of the purchaser must be taken into account. Are there other assets? Is there independent income, either from investments or retirement? Will one of the purchasers be working an outside job or telecommuting? If you are working with a knowledgeable inn broker, be prepared to provide enough information that he or she can find a property that has the potential of meeting your personal and financial objectives. In the end, the best advice is to plan ahead, become informed, and be realistic. If you do, you’ll be happily on your way to Innkeeping! Good luck!

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Assess The Worth of Your Home with Secured Homeowner Loans

Do you know that your home will enable you to avail loans? Do not think it is a hallucination…it is a reality. Now all homeowners can avail loans by using their home as security, as secured homeowner loans are giving all homeowners a chance to worth their property and avail loans for fulfilling numerous purposes.

As a secured loan, homeowner loan offers borrowers to borrow money against the equity of their home. The word “equity” is defined as the value of the borrower’s home after deducting mortgages and liens. . The term for repayment varies within 3 to 25 years

Secured homeowner loans are offered with various interest rates, such as, fixed, variable, capped, discounted and cash back.

Secured homeowner loans are available at fixed interest rate. In such cases, the rate of interest remains same during the loan period. Oppositely, in case of variable interest rate, the rate of interest varies in accordance with the changes of loan market.

A capped rate of mortgage can be defined as variable rate mortgage that has a fixed limit, which is known as ceiling. It indicates that in this option, borrowers know that how much they have to pay per month as highest monthly payment. Such kind of secured homeowner loans could be advantageous while the interest rate hikes up.

With discounted rate a homeowner is offered a discount from the standard variable mortgage rate and this discount is applied for a certain period. In case of cash back secured homeowner loans, lenders offer a lump sum that borrowers can use for various expenditures. Normally, these loans are given either with a standard variable rate or with tracker mortgage.

Secured homeowner loans are offered against the borrower’s home. This implies that in case, one fails to repay the loan amount then his home will be resized by the lender. So, one should think of his repayment capacity before applying for a secured homeowner loan.

However, some advantages of secured homeowner loans are inescapable. These are as follows:

oRelatively low rate of interest

oSince these loans are offered against home thus, with this option borrowers can borrow more

oIts flexible repayment period is also an added benefit.

Usefulness of secured homeowner loans is unavoidable. A vast field of usages has made these loans more popular among the homeowners. Some common usages of these loans are home improvement, paying off debts, arranging holiday trip and many more.

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Is Accounts Receivable Financing Right For Your Business?

With banks and other lenders making it more difficult for businesses to get cash these days, entrepreneurs have to look at other financing options. One area that is often overlooked is accounts receivable financing. Basically accounts receivable financing involves using your outstanding invoices as collateral for a short term loan. If you want to stop waiting for slow paying customers and get your money fast, then this may be an option for you.

Many commercial clients have become accustomed to paying in 30, 45 and 60 days. It can be difficult for a growing business to extend such long terms. Borrowing against your receivables will allow you to get money for your business right away. This is an excellent source for companies that are experiencing growth that they do not have the cash flow to keep up with.

There are two main types of accounts receivable financing. The first is to actually get a loan against your receivables. Newer receivable are worth more money, and many companies may not even be willing to loan against debts that are over 90 days. This type of loan is repaid, plus interest, when the accounts actually pay.

The other option is called account factoring, or invoice factoring. Instead of getting a loan against receivable with invoice factoring you actually sell your receivables to a factoring company at a discount. The lender will pay a percentage of the receivable upfront, about 80% on average, and the balance, less the factoring fee, when the account is paid. This can be a valuable tool for a small business. Not only do you get the money you need right away, but also it does not show up as a liability on your balance sheet. This can be a huge advantage if you are looking to get other types of loans or credit extended to your company.

There are several advantages to using your accounts receivable for collateral. It allows a company to reduce resources previously spent collecting on debts and generate fast cash to grow the business. Accounts receivable financing also frees up capital that previously was tied up in inventory. Lenders generally do not require a business plan or tax statements so it may be easier to obtain this type of loan than some more traditional financing methods. There are of course some drawbacks. Cost can be high, so it is important to shop for the best rates. If your company is experiencing a lot of growth and is having trouble accommodating all customers because of a lack of funds, then accounts receivable financing may be the perfect solution.

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Financing Legal Fees (Factoring)

While most small and medium sizes law firms want to grow and prosper, few have the necessary working capital to handle increased case loads or extended settlement payment. Factoring, which is the purchase and sale of accounts receivable (in this case, legal fees) at a discount at or near the time of creation (settlement), can help solve this all too familiar cash flow problem.

Financial transactions with attorneys are shaped by ethics issues. The intrinsic problem is that the non-lawyer entity has an incentive to attempt to “maximize its earnings to the detriment of the representation of clients.” However, once a case has settled, these issues are not in play any longer and the ethics issues go away.
Legal fees on settled cases are just like any other account receivable and can be sold, assigned, factored or otherwise financed.

Specialty finance companies like CapTran ( will purchase legal fees on settled cases. Most companies will deal in all fifty states.

o Minimum Transactions amounts are as low as $5,000

o Individual fees can be aggregated to meet minimum

o Maximum Transactions amounts are generally in the millions as most factoring companies are very well capitalized

o A portion of a fee may be sold

o Generally, there are no application fees

o The fees must have no known motions or actions challenging the settlement

How it works

Once a case has settled and all documents have been properly executed by both plaintiff and defendant, the fee receivable is purchased for a small discount, usually between 2% and 12% depending on the payor and amount. The main difference in rates is the factor’s estimation of the time it will take to collect the fee.

Step 1 – Master Fee Purchase Agreement

A Master Fee Purchase Agreement is executed specifying the terms of the under which fees will be purchased, including minimum and maximum amounts, advance rates, fees and rebates.
Before you begin factoring, please fax us the following documents:

o If your firm is a Proprietorship:

o Fictitious Business Name Statement or other document you filed with your local governmental agency allowing you to conduct business under your company name;

o If your firm is a Professional Corporation or Limited Liability Company (LLC):

o the document stamped by your state governmental agency confirming your company’s registration and allowing you to conduct business under your company name. This is often known as a Charter or Articles;

o A copy of the declarations page of your malpractice insurance policy.

Step 2 – Submit Fee Purchase

Submission of fee for purchase using factor’s submission process/forms. (CapTran has an online e-from to make the process of submitting fees for purchase as easy as possible.) The documentation is simple and closing is usually within 24-48 hours.


o Copy of client fee agreement

o Copy of settlement or judgment

o Must be signed by defendant

o must be signed by insurance company or other payor

o Letter of instruction from attorney to payor directing payment to factor’s bank or lockbox.

Step 3 – Acceptance

Purchase of fees is subject to the factor’s acceptance,(acceptance occurs when you receive your advance), at their sole and absolute discretion at a the discount from face value agreed to in the Master Fee Purchase Agreement, which is usually wire transferred directly into your checking account.
The discount will include the factor’s fee as well as any margin or “haircut” form the face value, which the factor has required. Usually, the factoring of legal fees requires no haircut if the payor is of unquestioned credit worthiness.

The assignment and letter of instructions from you is sent to the payor of the fee (usually an insurance company).

Step 4 – Payment

The payor sends their checks to the factor, which amounts are credited to your account, as received.

If the payor pays in a timely fashion (less than 90 days), you will also receive a Rebate when enough money has been collected to close any particular transaction. The Rebate is calculated by a predetermined formula that adjusts the original discount in Step 3. Here’s an example assuming a 12.5% factoring fee and a rebate of 4.8% for payment within 90 days:

Amount of Fee $10,000

Less Advance Disocunt (12.5%) $1,250

Net Advanced to Attorney $8,750

Rebate if payment within 90 days (4.8%) $480

Net retained by attorney if paid within 90 days = $9,230

Net retained by attorney if paid after 90 days = $8,750

Every factor has its own rules, preferences and idiosyncrasies. However, the welcome mat in clearly out for accomplished small to medium sized law firms.

Some firms also offer working capital loans which may, for certain firms, compliment factoring very nicely.

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What Does The Student Finance Corporation Do?

The Student Finance Corpration helps students to get loans for completing their studies. The range of loans available are for post secondary education. The eligibility and terms of repayment will differ from student to student based on their financial conditions, repayment ability, credit rating and the college that they are applying to.

This is called a secondary loan market because it does not finance the loans itself but rather acts as a conduit between lenders, students and schools. The specialty of this organization is to service loans from the Federal Family Education loan program. However, the Student Finance Corpration is just one means of getting loans for students and there are quite a few other organizations who provide loans as well

Major types of Student Finance

Student finance comes in four major forms:

Student Loans: Many students apply for federal government to finance their educations. The main student loan is the Stafford Loan, Such loans have low interest rate, no credit check and also do not require any collateral. There are two ways in which the loan is disbursed, one is when a private company disburses it to the family like the Citibank. All the loans are insured by the Federal Government against default. The second type of loan is when the federal government pays the family directly.

Parent Loans: Parents of dependent students can take loans for their children to cover their educational expenses. These are called federal Parent Loan for Undergraduate Students (PLUS) and unlike the Stafford loan these loans are not subsidized and are
charged at an interest rate of 8.5% for the loans disbursed after July 1 2006. Repayment begins after 60 months of disbursement and you can’t wait till the education to get over before repaying the loan.

Private Student Loans: Parents and students turn to Private loans for financing their education need because the federal programs are often limited in the amount of money they disburse and this gap has to be bridged by the private players. The rate of interest also is higher comparatively but there are several plans available which give a lot of flexibility to the parents while repaying.

Consolidation Loans: Student Loan consolidation is used when one or more loans taken for education purposes by parents and students are consolidated into one big loan and that is repaid instead of the smaller chunks of loans. Consolidation loans are available for most federal loans, including FFELP (Stafford, PLUS and SLS), FISL, Perkins, Health Professional Student Loans, NSL, HEAL, Guaranteed Student Loans and Direct loans. Some lenders offer private consolidation loans for private education loans as well.

Student Finance Corporation, Newark NJ

If you are living in Newark and are looking for the student finance corporation, newark nj it is known as the HESAA short for New Jersey Higher Education Student Assistance Authority. This authority is the secondary market for loans if living in Newark or any other part of NJ and you feel the need for a federal student loan. The good news is that this authority keeps on coming up with flexible and discounted loans for the students seeking loans in NJ.

For instance in the state of New Jersey the loans are disbursed by the New Jersey Higher Education Student Assistance Authority (HESAA) which is the state’s wing of the Student Finance Corporation. In the case of the New Jersey Student Finance Corporation they waive 1% of the guarantee fee from its borrowers and thus the entire loan amount is used towards education purposes.

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The New Rule For Buying a Home – Using Owner Financing

The American Dream; what does it mean to you? People have different jobs or hobbies or passions in life, but one constant remains the same among all of us, and this common thread that unites our dreams is that of Home Ownership! Unfortunately, in this current economy, achieving the dream of home ownership is becoming more difficult than any time in recent history. Too many Americans are following the unwritten rule of home ownership that tells us to ‘Find a Realtor and Get a Bank Loan’. In past economies, with thriving job markets, lower inflation, and less credit restraint, that ‘rule’ may have made sense to follow.

But our current economic system is making it difficult for the average person to achieve the American Dream of Home Ownership. In times of unstable job markets, with double digit unemployment forcing people to become self-employed to make a living, the banks are requiring a W-2 stable job history in order to issue loans. In times of a great credit crisis, the banks are requiring stricter credit scores than most people are able to achieve. Fewer and fewer honest, hard working Americans who are used to following the ‘traditional rules’ for owning a home are having the opportunity to own their own homes.

What if you could achieve the American Dream of Home Ownership without the assistance of a bank?

The purpose of this document is to allow motivated home seekers an opportunity to write a New Rule of Home Ownership that allows you to declare your freedom from the services of a Bank in order to partake in your piece of the American Dream of Home Ownership!

In order to understand the New Rule of Home Ownership, let’s take a closer look at the existing rules of purchasing a house with Traditional Bank Financing.

The first part of the Traditional Bank Financing focuses on Qualifying for a Loan. While many different loan packages exist, the most common loan written in today’s market is an FHA Loan, and therefore, we shall use their guidelines as an example. The following are guidelines for an FHA Loan:

o FHA Loans require a minimum credit score of 620 to be eligible for a loan
o FHA will require 3.5% down on the home. This down payment MUST come from your account. You are not allowed to borrow from friends, family or anyone else. You must document where the funds for the down payment came from. Specifically, the source of the down payment must be from your personal checking, savings or retirement account and CAN NOT be borrowed!

In order to work with most Realtors, you must first get pre-approved for a bank. Many Realtors won’t even show you a house unless you can prove that you are able to afford and receive financing for the property. This painful process of pre-approval from a bank can take 2-3 days and involve the following steps:

o Proof of Creditworthiness
o You must provide 2-4 years worth of tax returns!
o You must provide your last 4 pay check stubs if you are an employee or an updated Profit and Loss statement if you are self-employed, a business owner, an independent contractor or entrepreneur. However, if you cannot show a consistent pay stub as proof of income, then you may want to skip ahead to the part of this document where ‘Owner Financing’ is discussed, as you will find it increasingly difficult to qualify for a mortgage.
o Your bank may require you pay off other debit to help improve your credit score to qualify for the loan
o And the worst part… this proof of creditworthiness is done throughout the entire home buying process! Even once you qualify and pick out the home of your dreams; underwriters at the bank will have you go through the same process to make sure you still qualify.

Now that you are pre-qualified for the home of your dreams, you may finally begin the process of working with a Realtor to find your new home.

Once you’ve found your home, the Traditional Banks will want an inspection performed on the home and may require the seller to fix EVERYTHING for the bank to finance your loan. Some people just want a small discount on the house and they will do their own repairs however, many times a traditional bank will not allow you to do this! These small fixes may add to the total price of the house.

Also, expect to pay Realtor fees, bank fees, filling fees, “point buy down” fees, loan origination fees, closing costs, title fees, surveys, appraisal fees, and anything else imaginable for which to be charged. Though many of these fees can be rolled into your loan, over the long term, you may be paying an extra 10% in unnecessary Financing Fees that are loaded into your loan!

What if there was a quicker, easier, and less intrusive way to take your share of the American Dream? What if you could look at homes without having to pay a Realtor fee, pre-qualify for a loan, and go through a 3 month home buying process? After all, we ARE in a BUYER’S market in Real Estate, so why shouldn’t we be able to buy?

Consider the possibility of declaring a New Rule. Instead of working with (and paying for) a Realtor, why not work with the Seller directly? Especially if that seller is a Professional Real Estate Investor who is not only willing to sell the house in a quick and simple matter, but is also will to FINANCE the sale of the house on a short-term basis!

Earlier in this eBook, we went over the process of the Tradition Bank Financing. Now, we shall detail the 7 Easy Steps of Purchasing Your Home with Owner Financing:
* Contact the Seller of the Home without having to pre-qualify for a loan and look at the home to decide if you want to purchase.
* Settle on a price
* Agree to a down-payment and interest rate
* Once you’ve agreed to a price, down payment, and interest rate, complete a Deposit to Hold form and pay this 1% fee applicable to the sales price of the property. This fee will take the property off the market while you are closing on the home.
* Fill out credit application; provide 2 most recent paycheck stubs and bank statements as proof that you can afford the monthly payment.
* (Optional) If you chose, you can order your own home inspection to review the condition of the home
* Close in 2-5 business days

Buying a home from a Professional Real Estate Investor is quick and easy. Once you have settled on the price and monthly payments, you have minimal paperwork to complete and can close on the transaction within one week! The following is a summary of some of the benefits of Owner Financing compared with Traditional Bank Financing:
* In many cases, there is no minimum credit score required
* Instead of 10% Traditional Bank Finance Fees / Closing Costs, your Owner Finance Fee averages to 5% of the transaction.
* Unlike Traditional Bank Financing, your down payment for Owner Financing may come from almost anywhere (as long as it is a legal way to raise the funds). You can borrow the money from family, friends, others. There are also some tax incentives for you to use part of your retirement savings. Either way, with Owner Financing, you are allowed to raise your own down payment as you see fit!
* You and the Owner Finance Seller will agree on a time to “close” on the home and may close within 5 business days!
* Your Owner Finance loan is dependent on your down payment and ability to pay the monthly payment and NOT on your credit or having a W-2 Job. Therefore, Business Owners, Entrepreneurs, Independent Contractors, and the Self-Employed may qualify for Owner Financed Homes!
* You are not required to provide extensive documentation to obtain your loan

Due to the efficiency, simplicity, and cost effectiveness, you can see why buying directly from an investor with Owner Financing is the New Rule for Buying Homes. Owner Financing interest rates may be a little higher than market price when you initially purchase your home, however, this higher rate, along with a sizeable down payment, will actually help you obtain conventional financing at a lower rate down the road when you decide to refinance!

A good way to look at Owner Financing is that is a solution to buying a home with short-term financing. Once you have paid your Owner Financed note on time for say 12-24 months, it’s easier to refinance your existing note with a traditional bank loan at a lower interest. It’s much quicker, easier, and less intrusive to refinance a home into traditional financing then it is to purchase a home with traditional financing!

The following example will detail the process and the costs of owner financing:

o John chooses to purchase a beautiful home for $150,000 with a traditional bank loan. John’s credit score is 590 and the bank will not loan him any money until his credit score is at least 620. John understands the importance of owning a home and wants to buy something now.
o John finds a home that is being offered for $150,000 with Owner Financing. John has $15,000 to put down and wants to close in 5 business days. John’s new loan is at an 8.5% rate for 30 years and the sellers would like John to refinance his loan in 24-36 months. John’s monthly payment is $1,350 and it includes Principle, Interest, Insurance, and HOA fees. John is happy because he can afford $1,350 per month and is able to take his part of the American Dream!
o As John pays on time for, say, 24 months, John has an excellent payment history with his current lender. John will also need to be working on his credit in those 24 months to raise his score to the current minimum of 620.
o When John approaches a traditional bank John will be able to demonstrate the following:
o John’s $15,000 down payment shows that he has ‘skin in the game’ and is not just going to bail on his house payments
o John CAN afford and has been paying $1,350 a month at a 8.5% rate for his loan
o John’s credit score is now above the minimum required 620
o If John can afford $1,350 a month at 8.5% interest, John can easily afford a $1,100 a month payment at 6.5%!

It is much easier to refinance a loan rather than trying to get a loan for the original financing! Since you are already in the house, there is no inspection required, no lengthily closing procedures and there is no longer all that extra red tape that is associated with buying a home with traditional financing!

As you can see, purchasing with Owner Financing can be easily done and quickly closed for those who cannot use a traditional bank loan but deserve to own a home now.


In today’s market, due to tough economic times, there are many people selling their properties. Yet, despite the fact that this is a ‘buyer’s market’, it is tougher to buy a home with Traditional Bank Financing than ever before. Following the old, unwritten rules will lead you to a long and unhappy life in an apartment complex. Motivated home seekers looking for their piece of the American Dream are unable to achieve this great promise by traditional and conventional means due to stringent lending requirements initiated by the very same financial institutions that gladly took over 1 billion of our tax dollars to bail them out! Banks tightening up on their lending practices is causing a shortage of homebuyers in the market. This is one of the biggest reasons that real estate values continue to free fall because there are not enough people who can qualify for available homes while following the unwritten rules.

Inspired home seekers, looking to break away from the old rules and ready to write his or her own New Rules to Home Ownership will be able to take advantage of this buyer’s market, and with Owner Financing, you will see more and more people purchasing homes. If you are in the market to buy a home however, you cannot qualify for a traditional loan, I strongly recommend you contact a company that specializes in Owner Finance Homes.

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How to Improve Cash Flow With Factoring and Invoice Finance

What exactly are factoring and invoicing financing? Many people confuse the two in a slightly misguided belief that they are in fact the same business method. However, they are not. Factoring at its most basic is the short sale of accounts receivable at a slight discount to an institution that wishes to purchase said accounts in an effort to make money on their investment. Invoice financing is a short term loan based on using the account receivable as collateral.

Factoring allows for the quick acceptance of cash on an outstanding account receivable. This means that the business owner has been paid much sooner for a transaction that may have required weeks, to a few months, to complete normally. They take a slight payment hit in the form of the discount granted to the purchaser, but they have immediate cash to continue their business concerns. This is an exceptional aide to any business, but is extremely useful for small to moderate size businesses and new start-ups.

With invoice financing a loan equal to a portion of the account receivable is generated and granted to the business owner. Generally the loaner, as well as companies that purchase discounted accounts receivable, do not care about the credit rating of the company that is acquiring the loan. They will instead focus on the company or entity that owes money to that company. This is due to the fact that it isn’t the business that is requesting the loan that is in credit based doubt. The doubt will lie with the one that owes that business money. Since the collateral for the loan is the money owed to the business this is the primary concern credit wise for the lender.

There are companies in existence that focus on this aspect of business as their primary enterprise. They specialise in acquiring new accounts receivable at a discount or with lucrative lending practices and have become a vital force for the small to moderately sized business. Even larger more established companies utilise these services regularly in the current market.

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Getting Your Best Car Loan – Tips and Tricks

Getting a car loan could be very daunting, emotional and often times an expensive experience. When you are buying a car – new or used – there are usually not one but three micro-sales happening under one sale roof. Subsequently there are three points to negotiate:

Car Price
Car Trade-in Value

Most salespeople in auto dealerships will try to merge them in one and negotiate with you only ONE final price making their additional money on margins of each of the three micro-sales listed above. Make sure that you understand this sale trick and counter act it properly.

Car Price

Check for the Right Price

If you are buying a new car – always check the Car Invoice Price not the MSRP (sticker price). The invoice price is usually much lower than the MSRP.

If it is a used car – make sure to check CarFax, CarChex, or VinAudit services first to get a car history report to confirm that you are not buying a lemon. For example, there are plenty of recent flood damaged-and-repaired “like new” cars in the market with astonishingly low price which you won’t want to buy. Make sure that you are not getting one of them.

Finally, check KBB (Kelly Blue Book) for the objective market price of that used vehicle. Once you know your future car’s value – move to step #2.

Check for Consumer and Dealer Incentives

Ask for the first-time-buyer discount, manufacturer-sponsored discount or dealer specific discounts/programs such as a reduced pay rate or cash back values (do you remember that famous – “put down $4K we will add $4K from us”?). Don’t make any financing decisions at this stage – keep in mind that dealer financing, being very convenient isn’t necessarily the cheapest.

Car Trade-In Value

Know Your Old Car’s Trade-In-Value

Make sure to check Kelly’s Blue Book or anything similar for the re-sell value of your car. Some dealerships offer car buy-back programs promising you a price for your car better than KBB value in exchange for selling you a new car. That over-the-KBB-delta is usually 10% of KBB value and could sound attractive for many car buyers. However don’t get over-excited here – there is a law of nature: “something never comes from nothing” – car manufacturers often offer a solid discounts for each new car sale. These manufacturer-backed discounts usually are not publicly advertised by auto dealers. Many dealers simply take a part of that manufacturer-backed incentive and make this part a 10% discount for you. Check if the manufacturer-backed incentive taken separately is greater than the 10% KBB discount the dealer offers to you. If you ask your dealer the right questions and act correctly you can save a couple of thousand dollars here.

Car Financing

Know Your Credit Score

While there are always ups and downs in the loan market, the better credit scores always lead to better loan rates. To get a better understanding of the score-rate dependency check the following real data table from Year 2012:

FICO Score… Interest Rate
720-850 ——> 5.73%
690-719 ——> 7.37%
660-689 ——> 9.40%
620-659 —–> 12.76%
590-619 —–> 17.68%
500-589 —–> 18.50%

As one can see from the table the interest rate paid by the customer with a FICO score in 500-589 range is more than 3 times greater than for customer with FICO score of 720-850.

Once you know your FICO score you can get your expected up-to-date interest rate – there are a lot of free loan calculators in the internet.

Shop for the Best Loan Around

Don’t Buy a Loan Based on How Close the Lender’s Office Is to Your Location

Don’t forget – you are shopping for money not for geographical convenience. Besides that – many loans are available online nowadays, so location really doesn’t matter anymore.

Choose the Right Rate

Never work with one single lender – shop around and get at least three offers from different lenders. Choose those lenders from different lending categories – let banks, private lenders and other financial institutions compete for your business.

Choose the Right Loan Term

Normal loan term is usually from 36 to 72 month. Some lenders will try to sign you off for a very long term loan of 7 or even 10 years – don’t go over 6 years unless it is absolutely necessary for you.

Make sure that there is no pre-payment penalties in your loan offer so you would be able to re-finance your loan in the future for a better rate if needed.

Get Your Loan Pre-Approved First

Knowing what you are eligible for will help you a lot in choosing the right car to buy. When asking for a loan amount know your affordability limits. There is a rule of thumb: all your loans together, i.e. – home loan, student loan, auto loan etc. – should not be greater than 25% – 35% of your gross income before taxes. If you already have a mortgage for your house ask your mortgage provider about joined mortgage + auto loan option – this option is always much cheaper than two loans purchased separately.

Know the Real Cost of What You Are Buying

Your real cost isn’t just the car cost only. Don’t forget auto insurance: the real price you will pay is the monthly auto loan payments + monthly insurance payments where the insurance premiums can be even larger than your auto loan premiums. Cars which are still in financing or in lease will likely require a Full Coverage in your insurance policy which can be very costly.

Choose the Right Loan Type

If you buy a car from the individual and need a loan – you might need to go to bank as many small lenders usually won’t provide auto loans for that type of purchases. Personal loan (not the auto loan) could be another solution here. Many private lenders can lend you money for any kind of purchase as long as you are a “lendable” person. Those loans are usually of higher rate and are for smaller amounts than ordinary auto loans but they could be a viable solution for you here.

Once you have all the pieces together – make your final purchase decision. Driving is a very enjoyable experience, so enjoy your new car and drive safely.

Alvin Borsinger – web master and marketing manager at “One Stop Place for All Drivers”.

Confused and intimidated by abundance of businesses offering loan for your car? Not sure where to go and how to start? Don’t be confused – learn from the knowledge and experience shared by others. Auto Loans Center will help you with proven practical advises from auto financing professionals coast to coast. Learn tips & tricks auto lenders don’t want you to know.

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What Costs Are Involved in Financing Infertility Treatments?

Believe it or not the cost of treating infertility issues, such as needing IVF or in vitro fertilization is quite a lot. The cost of fertility medications alone make up one-third of the treatments. Many couples find they simply cannot afford this option and thus have to turn to financing infertility treatments in order to conceive and give birth to a baby.

While some infertile patients will use credit cards others will look to borrowing the funds. Today in the USA many clinics have financial aid offices equipped with counselors who are there to help finance the treatments, making it possible to move forward in spite of perhaps not having the funds to do so.

Some offer deep discounts if they are able to work with the companies involved with infertility treatments, thus lowering the overall cost to more affordable rates.

Just how much do infertility treatments cost? The answer to this depends on what treatments and medications are needed. But on average in vitro fertilization procedures and medications can cost thousands of dollars, even tens of thousands of dollars.

If an infertile couple has decent credit they may qualify for loans offered by banks just for infertility treatments. Some may qualify for credit cards with lower interest rates. You can do a search online for such companies that offer this sort of thing.

If a clinic offers financial counselors they may also take the application for financing a loan right at the clinic as well. Some offer online applications. Approval of these types of loans can be instantaneous to several days, depending on the loan company. When approved couples can then make affordable monthly payments towards the cost of the fertility treatments.

If you are interested in financing your infertility treatments research local fertility clinics to see what they offer. Also research online to find companies that offer financing applications online. Discuss these options with your fertility specialist too.

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