Slick Cash Loan

1. What is a Reverse Mortgage? A reverse mortgage is a loan product available to homeowners of at least 62 years of age. These mortgages allow the homeowner to convert part of the equity in their home into cash. With a regular mortgage, you make monthly payments to a lender to buy your house over time, turning your cash into equity. With a reverse mortgage, a lender makes monthly payments to you, exchanging a percentage of your home equity for cash. Originally, reverse mortgages were designed as a loan of last resort to help cash-poor seniors remain in their homes. However, according to the AARP, participation in reverse mortgage plans has now broadened as a result of widespread TV advertising and the adverse effects of the recession. To read more, visit the original post: 6 Frequently Asked Questions About Reverse Mortgages . The post appeared first on NetCredit Blog .

Raising Your Credit Score with Multiple Payments Have you ever thought about making more than one payment per month on your credit card? The due date is not the only time during the month you can make a payment; you can send in multiple payments during the month. The Convenience and Benefits of a Credit Card I tell my workshop audiences all the time not to use your credit card for credit; use it for convenience. It is not a source of funds, but merely a convenient way to pay. It keeps you from carrying a lot of cash, and it saves you from writing tons of checks all over town. While a credit card is important to establish and maintain credit, your balance can hurt your credit score if it exceeds 30 percent of your available credit. For instance, if your available credit is $10,000, you don’t want your balance to exceed $3,000. Therefore, if you know your balance is creeping towards that 30 percent mark, like if you made a huge purchase, such as a piece of furniture, you might wan

The most common concern among businesses is how to maximize revenue while reducing expenditure. One way to do that is to plough back the returns in a bid to increase the capital of your business. But when you are only starting out, your options may be very limited. The returns may not really be significant enough to help expand your business. For instance, you could find out that you are spending nearly all your revenue in meeting recurrent expenditures . This is where loans come in. It is undeniably true that many entrepreneurs shudder at the idea of securing loans. However, for any business to scale to higher heights, risks are inevitable, and loans are some of the most necessary risks. In this post, we shall uncover the top 8 options for small business loans you might want to consider. Personal Loans One of the most common types of loans for budding businesses is personal loans. This is basically money you borrow from a financial institution such as a bank or cr

The idea of financial seems like a great theory to many people. Even most of those who believe that financial freedom is truly achievable often don't know what to do to get there. The great news, however, is that anyone can become financially free – including those with huge financial troubles at the moment. But What Exactly Does Financial Freedom Mean? Different people have different explanations for what financial freedom is. But what they all agree on is that people who are financially free have taken ownership of their finances . Financial freedom has to do with having reliable cash flow so you can live your desired life. It means not being overburdened by debt, and not worrying whether you’re able to cater for all your bills. It’s about having a solid long-term financial plan and actively increasing your savings. So How Do You Become Financially Free? The path to financial freedom does not have to be unnecessarily long or complicated. By taking the followi

Knowing that you have a large amount of credit card debt hanging over your head can feel stifling. Your money will be going toward interest payments instead of toward things you want, and there will always be the worry about what will happen if you can't make a minimum payment one month. Luckily, there are many ways to alleviate the burden so you can breath easier knowing you have paid off your credit cards. Getting out of credit card debt involves a two pronged approach. The first prong is to set a budget, the second is to make more money. The First Prong: Set A Budget Setting a budget is fairly simple though it can be time consuming, so set aside a couple hours specifically to work on your budget. Ideally, you should have everyone in the household old enough to participate in finances working on this budget with you during this time. Having other household member work as a team to create the budget means that everyone will feel ownership of it and will likely d

Financial planning is one of the most relevant & important aspect of life growth, especially as an entrepreneur. Over time, money management have proven to be a difficult task. It often requires focus and dedication to manage money well, consciously spend less, and deprive yourself of some things, in order to achieve your financial goals. Nevertheless, setting realistic financial goals is vital to achieving success. Financial goals serve as guide to manage your hard-earned money, and give you the sense of working for something, with the road map to where you’re going. As an individual, entrepreneur or business owner, setting achievable financial goals is the best way to thrive, and go above financial obstacles. How then can you set these achievable financial goals? How can you effectively manage your money? We’ve compiled some proven strategies that’ll help you set achievable financial goals. Here are 7 relevant steps to take in order to set realistic financial goals a

Payday loans can be used when you're in a pinch and are looking to get some extra cash. A payday loan is essentially a loan that is given to someone when they need cash immediately and can pay it back within a short amount of time, usually by the next payday. Sometimes borrowers can pay the loan back over a period of time, though the pay back time is not usually more than a couple of months. The amount of money you get can vary, but usually it is a small amount under $1,000. For payday loans, when it comes time to pay the loan back, the borrower will pay the lump sum they were given plus a finance fee. The finance fee is predetermined when the loan is created, and the borrower is always aware of how much they'll be paying back when payday comes. The finance fee that is paid is determined by a number of factors: the state you are borrowing in, the amount of money you borrow, and the loan term. How do I get a payday loan? It is a fairly simple process to get a

Securing a loan at all, let alone with a reasonable rate and repayment period, is almost impossible when you have a bad credit score. Banks and other financial institutions hesitate to lend money to a person who has an unimpressive credit history because the borrower is less likely to repay the loan, which results in the lender suffering losses related to non-repayment and collection efforts. Thankfully, some lenders believe that people who have had financial problems in the past deserve a second chance and offer installment loan options. With a true installment loan , the borrower requests a certain amount of money that they need and use it in whatever way they choose, such as to pay for car repairs, a replacement vehicle, healthcare costs, moving expenses or even monthly bills between paychecks. Although other category-specific installment loans exist, such as auto, mortgage, and student loans, these loans require that a borrower meets strict application requirements and sp

Managing personal finances is vital in today’s world. Unfortunately, many are still unaware of the best strategies to manage their finances. This is the reason why many consumers borrow money from time to time which gets them into a debt cycle. Personal finance involves balancing your debt to income ratio and ensuring that your expenses do not exceed your income. Managing your personal finances can also help maintain a good credit score, which means that you can qualify for affordable loans. Create a budget Personal finance begins with a well-planned budget . One advantage of coming up with a budget is that you will be able to keep track of your expenses. Your budget should clearly indicate all your income and expenses for the month. As a rule of thumb, your monthly income should be more than your monthly expenses. If not, you need to reduce your expenses by spending less on non-essential items. This may not be easy for most people, but it is very important if you want to

Getting a loan is not something to be taken lightly. A personal loan can help you in case you need urgent financing. The process involved is fast, with some borrowers getting financing on the same day they submitted their application. There are a lot of money lending institutions, which makes it a challenge to pick the best. Read on to know what to consider before you apply for a personal loan .  Purpose of the loan This refers to the reason why you want a loan. Most people apply for personal loans to pay for education, hospitalization, and weddings. Personal loans are not recommended for businesses looking to increase their stock to generate higher returns. Knowing the purpose in advance will help you decide on the amount to borrow. Types of personal loans They are of two types: Secured loans: Such loans are backed by collateral, such as savings. In case you fail to make the payments, the lender can claim your assets to pay for the loan. Unsecured loans: For t