5 Warning Signs of a Bad Loan

Generally, people who want loan desperately will be a victim to a bad loan. Therefore, people who go to the lender for a loan have to be cautious enough about the bad loan warning signs and be prepared not to walk, but run away from the spot and from any lender who exhibits the following suspicious actions.

Manipulate Some Numbers

The lender will try to convince you for a bigger loan, if the income digits are manipulated. Do not deal with such lenders because it is a crime and it could get you slapped with precipitous penalties or even jailed.

Stresses You into a Bigger Loan

Be cautious of any lender who stresses you into borrowing more money than you need. You will end up paying more interest on the extra cash. So, switch to what you want and never agree for more funds.

Do Not Consider Your Monthly Income

You will be the right person to know your own accounts. Never give the discretion to the lender to decide on your income. Rather figure out whether you have sufficient money coming in to cover all your utility bills, any other monthly bills, a new mortgage and a savings account for any emergencies.

Understand what is required and stick to it. Never agree to a lender, who pressurizes you into a bad loan with monthly payments, which you know you cannot afford. Stay away from such lenders.

If your monthly outflow is more than your inflow, you will find yourself in distress.

Documents Kept at Bay

A lender has to provide you with all the required loan disclosures. In case he fails to do it and tells not to read them, then you have to be cautious. The law says that the lenders have a commitment to tell you the APR (Annual Percentage Rate) and provide a GFE (Good Faith Estimate), which is an itemized list of estimated closing costs within 3 days after you apply.

The APR comprises of not just the interest rate, but also certain credit charges, points and broker fees. The GFE covers all these charges and you will be asked to pay everything else at the point of settlement. One has to use these documents while approaching for loan.

Documents Exchanged Against Original

If a lender has offered you one set of terms while applying for the loan and a different set of terms during closing, ensure you demand an explanation.

When the lender tries to pressurize you to sign these new documents with unfavourable terms and worse rates, beware – it could be a scam and take your next step elsewhere.

Thus, one should understand the warning signs of a bad loan and identify a genuine lender for applying a loan

How to Select the Right Home Loan or Commercial Real Estate Loan?

The mortgage lending business is hyper-competitive and the primary goal of a mortgage originator is to convince you to apply for your mortgage with them. The mortgage originators come in all forms of experience, education, training, and affiliation, but foremost they are the sales people.

When consumers are looking for the right home loan or a loan for commercial real estate, they first look for the most skilled financial mortgage expert. In other words, they often choose the best salesperson and thus it is necessary for the consumer to get his homework done before hand so that you are not ensnared by his sweet talks.

Let us see how to get the right loan.

  1. Down Payment and Loan to Value Ratio: The LTV ratio compares the amount of your loan against the appraised value of your property. For commercial properties, you normally get loans up to 70-80% of the appraised value of your property. For home loans, this ratio can go up by another 10%. The remaining is the down payment, which you need to pay from your pocket. Actually, lower LTV ratio is better as it means you have more equity in your property.
  2. Cost and Loan Terms: Check the Interest Rates and the repayment schedule. Depending on the bank, the interest rates can be fixed, or they can vary based on the market. The repayment schedule also has a lot of impact. Normally for commercial real estate loans for income producing properties, the repayment schedule is either interest rate reset or balloon payment. Interest rate reset means the loan is typically a variable rate loan where you have a certain rate fixed for the first 1-5 years after which it can increase or decrease depending on the market.
  3. Clear Plan: If you are going for a commercial property, be ready with your plan to convince the lender on how and when the property will turn profitable. Once you are able to do it, things like your credit score and personal net worth become less important for high-end deals. For smaller deals under $3million and for home loans, banks closely examine the personal credit scores. Any rating above 700 is enough to get you the desired loan.

Keeping in mind these basic things you will be able to get the best deal available in the market.

Technology Enhances Life For Business Professionals

Though technology is to blame for much of the common stressors in the lives of many, it can also serve as a great source of relief.  For business professionals, the use of technology is inevitable.  The best way to adjust to a lifestyle full of technology is to learn how this quickly developing field of information can work to ease the pain of the “daily grind.”

Professionals all over the world have managed to find thousands of ways to integrate technology into their daily routine for the sole purpose of making everything easier.  Take a moment to look at some of the most popular ways in which technology enhances life for business professionals.

Wireless/Solar charging

Cords and wires were so last year.  The world of wireless chargers for mobile devices is quickly expanding and developing.  There are cell phone cases that will charge the device throughout the day; there are solar backpacks that will charge several devices at once without plugging into anything.

Not only does wireless/solar charging save on hassle by cutting down on wires, but this technological development is a more kind solution for the environment.  When fewer wires are being produced, there are fewer plastics and other environmentally harmful materials being produced.

Fitness trackers

When living the life of a professional business person, it is imperative to maintain exceptional personal health.  Without some type of healthy lifestyle intact, it is far more difficult to succeed in the world of business.

Utilize one of the many personal fitness apps and tools available on the market to help develop a healthy daily routine.  Studies show that a healthy daily routine is always positively impactful to personal performance and drive.

Wi-Fi resetting plug

Anyone who is well-versed in business understands that a Wi-Fi router is a moody piece of technology.  It is no rare occasion that users will have to reset their routers due to a fickle connection.  Stopping work to unplug and reset a router is a highly erroneous way to spend the day.

Check out the ResetPlug.  The device’s sole purpose is to reset the router whenever the signal goes wonky.  The ResetPlug will automatically monitor the router’s connection and reset the device whenever there is a drop in signal.  Just plug the router into the ResetPlug, then into the wall, and enjoy interruption-free internet service.

Smart coffee maker

Coffee is an essential part of the life of many professionals today.  When time is always such a prized commodity, making coffee is not always feasible in the morning.  Technology has solved this vexing issue with the Nespresso Prodigio.

Nespresso Prodigio is a smart coffee maker that offers Bluetooth capabilities and multiple programmable functions.  This coffee maker will turn itself off and on, brew at a set time via Bluetooth, select a specific type of coffee to brew, and (when milk is added) brew a more fancy drink like a latte or macchiato.

How to Start Your Own Car Online Title Loan Business?

A title loan is a high-interest and short-term loan. Usually, title loans are paid in just 30 days. Car title loan is a money making business, and there are few steps to be considered in this particular process.

Apart from attaining the experience, licenses, and creating the plan, you need to understand the capital that is to be obtained and the cars to lend.

Instructions

  1. Gain knowledge on business related to online title loans. If you are not familiar with how the industry works, it is recommended to build a relationship with a successful lender for at least one to three years. If you are seasoned pro, then decide yourself on the type of lending that makes sense for your company. If you’re not sure, it is better to contact companies outside the market and request them for inside information about money lending on car titles.
  2. Create a business plan that allows you to design your objectives and goals. A good business plan does include financial reports like list of assets, profit-loss statements, and marketing plan. A business plan can also be created with an accountant or it can be done via kit or a template.
  3. Start looking for an appropriate location. Before you apply for a license, you need to incorporate the business and you should apply for financing. Title loan companies do the best when it comes to busy retail areas. You just need to select an office that is good enough for all the clients for completing the applications in perfect and clean reception areas. You can also install service counter for easy transactions. You can also try with a real estate agent who can show you the ideal place that meets all your requirements.
  4. Start contacting the state’s office secretary for finding licenses that you require to start a lending company. Few states may require business license, and others require dedicated permit. Your state also requires loan companies for meeting lowest asset requirements with all the background and credit checks done with respect to owners.
  5. You can also obtain the working capital for attaining loans and paying the start-up expenses. Most of the companies afford loans obtain credit lines from the commercial banks. For applying, you just need to submit business plan for a commercial banker. The necessary qualification is completely based on the plan strength and credit report. If you cannot get bank loan or line of credit, then you need to seek help from investors.
  6. You need to screen customers intelligently and it is necessary to know the collateral well. Make use of “Kelley Blue Book” for checking used car values. Better consult a qualified pre-owned car dealer, who can help you in determining the condition of the car that you lend before attaining the loans.

You should not operate without a proper license. Make sure that you have clearly written contracts in order to avoid attaining the cars without any sort of legal rights. You need to price all your loans in a wise manner.

Protect Your Honda with Insurance

As one of the automotive leaders for factors like dependability and fuel efficiency, Honda also offers some of the longest running vehicles on the road today. So make sure that your car has the auto insurance that fits your requirements, budget, and purposes.

How to Save Money?

When buying Honda insurance, there are several things that you can follow to keep costs minimum. We’ve listed few money saving tips if you’re in search of some cheap car coverage for your vehicle.

Improve Safety- Minimize the risk of your vehicle being stolen or injured by equipping an official alarm system and do not park your car in an unsafe place any time, especially during night.

Limit the Mileage- Driving more can add more cost on the coverage; so minimize the number of miles you’ll drive annually and report to the insurance company.

Do not Spend Unnecessary- Pay only for the things you need; some companies provide some unwanted offers; so select the right levels of protection.

Shop Around: Do not assume that you’ve got the best deals of all; always, compare the quotes from other insurance corporations to check how much they offer and how much you could save from your renewable quote.

Car Insurance Rates

Though Civic loses on its looks, it is the best car to buy due to its driving ability; its safety aspects are too good, earning best result in a crash test. The premium cost of Civic is bit less when compared to other models, including Type R.

Accord has excellent power units, good trims, and space, but is simply expensive to compete in its segment; however, it’s a better alternative for the personal buyer, who wants something different. The average premium cost of this car is pretty low.

Make sure that look for safety features when you search for insurance for Accord. Since its debut, it has won numerous awards and has been given the “top recommend” car rating.

Accord is quite reasonable as it has long safety records and safety features, as these can often produce discounted car insurance coverage costs.

Top Health Insurance Tips for Purchasing Health Insurance

Whether you are switching the health insurer or purchasing a health insurance, there are few points for beginners to consider before making up your mind to purchase the insurance.

Tips for Buying Health Insurance

  • Make sure that the policy covers private accommodation in public hospitals. In most of the cases, you don’t see the insurance firm guaranteeing you fast access. Make sure that you have the best plan with decent access to the private hospitals.

Even if it covers little, it is better than not having access to the hospitals that levy extremely large bills.

  • Check whether the hospitals are closer to your home. Most people prefer having the hospital nearer to their staying place, so that friends and relatives and can easily reach the hospital in emergency cases.
  • Check and make sure that there are no shortfalls on precise procedures or treatments such as chemotherapy, radiotherapy, and orthopaedic. If you find a shortfall on the orthopaedic treatments, you need to consider the likelihood of the requirements.
  • Check that the insurance plan that you are going for will cover major treatments like chemotherapy, colonoscopies, and radiotherapy in private hospitals – all these procedures will account for sixty to seventy percent of health insurance claims.
  • Make sure that you have the coverage for CT and direct settlement MRI scans centres that are local to you.
  • Try to make sure that you have coverage for chief cardiac procedures at all the major private hospitals or hi-tech or specialist centres.
  • Check out that you have very low outpatient excess. It does ensure that you get decent money back from the outpatient savings and expenses.
  • If you are looking for coverage that covers day-to-day benefits like GP, dentist or physiotherapist, then make sure that you get long-term benefit for the money. If you have children or you regularly visit doctor, plan yourself for the appropriate plan.
  • Some of the plans will cost 5 to 6 times of the price that a doctor sees. If you usually attend the doctor once in a while or twice a year, it is worthwhile having such type of coverage.
  • Check for the other values and benefits that will be more interesting for you like maternity benefits, health screening, and kids’ benefits. Consider health insurance requirements of all the individuals in the family. Consider various plans & coverage levels for each.