Hard money lenders are a way to get money to purchase a home or an investment property. These lenders offer a relatively short term (less than twelve months) loan secured with the value of physical property. Though the interest rates tend to be a little on the higher side, the flexibility can be worth it. However, you should still know how this will impact your credit score. 1. Hard Money Lenders May Pull Your Credit Report
- Your social media profiles tell a lot about you, which is why many businesses use them when analyzing their prospective customers. For example, did you know that a mortgage lender can glean a wealth of (relevant) information from your social media pages? Here are four types of information lenders can glean from your social media pages and how they can interpret the information: Topics You Follow Lenders can use the topics you follow on social media to gauge your financial strength.
- If you have served in the military, you may be eligible for a VA loan, which basically allows you to get the home loan you need without mortgage insurance, any down payment, or future excessive interest rates. Those who are currently on active duty and have 90 days of continuous service under their belt or National Guard and reserve members with six years of service are eligible to apply. If you are approved for a VA loan, you need to read the contract carefully before you sign on the dotted lines.
- Factoring is a common process used in the trucking industry that involves selling accounts receivables for cash. The purpose of factoring is to keep your company's cash flow positive, and positive cash flow tends to be a problem with trucking businesses. If your business is struggling with this issue, you may want to look into factoring too. Here are three important things to look for in the company you choose to use.
- If you live or work in Tennessee and occasionally take out a paycheck advance loan, you may need to know about pending changes to the way the industry operates. Federal reforms aimed at helping consumers repay these types of loans more easily could extend due dates and even change the amount you qualify to borrow. Read on to learn more about how these reforms can affect Tennessee payday lenders, as well as some other options for quick cash if you find yourself unable to obtain a payday loan.