|
|
Credit and Loan Help for Mortgage Loans
Mortgage loans are some of the most difficult loans to receive if you have bad credit because lenders focus heavily on your credit score and history of making payments on time. However, there is credit and loan help for individuals interested in...
Guide to Personal Loans
Here is a useful guide to Personal loans. What is a personal loan? A personal loan is money lent to an individual by a financial institution for a specific personal purpose. A personal loan is an amount of money offered, normally by lending...
Home Equity Loans - How To Use Your Home's Equity to Consolidate Debt
If you've got a wallet full of credit cards, and monthly payments on them that total more than 25% of your monthly income, chances are that you've considered debt consolidation loans or some other means of taming your credit card debt. But did you...
Home Loans For People With Adverse Credit History
Whether you are planning to purchase a home for the first time or refinance an existing mortgage, plan on comparing lending companies before you accept a financing offer if you have adverse credit history. Sub prime lenders specialize in offering...
How Do Those No Fax Payday Loans Work?
The traditional forms of payday loans involve those small walk-in offices that you find in strip malls or smaller plazas; often they are not the friendliest looking place. They provide small term loans of a few hundred to possibly one thousand...
|
|
|
|
|
|
|
|
Secured loans for unemployed - tone down the bitterness of unemployment
Can ones home be of any extra importance for the unemployed
people? Watching the growing interest of loan providers towards
unemployed people makes one think on these lines. The present
outlook becomes all the more important, given the treatment that
was meted out to the unemployed people earlier. Let us remind
the readers that unemployed people were often refused loans; the
reason being that unemployed borrowers didn't have a stable
income, and would thus be incapable of making regular payments.
Loans offered to unemployed borrowers against their home are
known as secured loans for unemployed. The present outlook of
borrowers towards the unemployed people springs from the safety
that they perceive in borrowers' home. Risk involved in a
secured loan for unemployed is naturally low. Borrowers always
have at the back of their mind that they cannot delay the
payment for long; since with the borrower's home in its
possession, the lender can anytime liquidate it for recovering
the unpaid loan proceeds.
Sec
ured loans for unemployed are also known as home equity
loans. Equity is the value that will be received if home is
sold. While home is not actually sold, the value derived from
this process is a good measure of the amount of secured loan for
unemployed to be lent.
So, if the available equity in home amounts to ₤30,000,
then the unemployed borrower can command an amount up to
₤30,000. It has been seen generally that only 70% of the
home equity is compensated. Had it been for the regular
borrowers, they would have easily secured as much as 80% of the
home equity. However, as the unemployed people put greater risk
on lenders, they will have to do with smaller compensation. A
secured loan for unemployed can significantly help the borrower
in making larger expenses. The amount extended under the loan is
enough to settle larger debts and undertake larger home
improvements.
Secured loans for unemployed or home equity loans may branch out
into Home Equity Line Of Credit (HELOC) if the usage of loan
proceeds is not made in lump-sum. In HELOC, the borrower agrees
to draw the loan proceeds as a credit line, i.e. as and when the
borrower faces the needs.
Unemployed people can use the HELOC
method as a regular monthly income.
Secured loans for unemployed require the borrowers to draw a
somewhat accurate probability of the time within which they will
regain their job. There are two reasons behind this. Firstly,
borrower can decide the repayment period accordingly. Secondly,
borrowers can decide the rate of usage of secured loan for
unemployed according to the period for which unemployment will
be. If the time of unemployment is predicted to last long, it
will be recommended that the secured loan for unemployed not be
consumed fast. HELOC spread over a larger period will be best
for this kind of people.
Borrowers opting for secured loans for unemployed will have to
pay a greater rate of interest. This is true even when the loan
is secured against home of the borrower. However, the rate of
interest is not unjustified. The risk involved in the loans is
to blame for the increased rate. When compared with the
difficulties that borrowers have to face in obtaining finance,
the rate of interest seems very inconsequential.
However, loan providers must not be allowed to play as they want
with the unemployed people. The terms of the secured loan for
unemployed must be well defined and be according to the criteria
set by the financial authorities. Unemployed people must
understand that home is an important asset; in their case home
becomes all the more important because of the absence of any
regular income to fall back on. Consequently, any decision
regarding binding home to any loan must be made with sufficient
thinking.
Scarlette started on a horse back and had a few falls herself.
Therefore, she knows. Financial decisions are to be made after
considerable thought and backed by good financial understanding.
To find all types of loans for unemployed UK Residents Please
visit http://www.loansforune
mployed.co.uk
About the author:
Scarlette started on a horse back and had a few falls herself.
Therefore, she knows. Financial decisions are to be made after
considerable thought and backed by good financial understanding.
To find all types of loans for unemployed UK Residents Please
visit http://www.loansforunemployed.co.uk
|
|
|
|
|
Cheap Loans | car, personal & secured homeowner loans ... |
Compare over 400 UK personal (unsecured) and secured homeowner loans, including car loans, to find the cheapest deals... |
www.moneysupermarket.com |
  |
E-LOAN: Mortgage Refinance, Home Equity, Auto Loans, Savings ... |
E-LOAN offers home mortgage, refinance, home equity loans, lines of credit, auto and motorcycle loans, savings accounts and CDs with great rates online. |
www.eloan.com |
  |
Loan Center - Yahoo! Finance - News, Education, Daily Rates and ... |
Loan Center - The Yahoo! Finance Loan Center provides useful tips, calculators, and rate data to help you choose an auto loan, mortgage, or personal loan ... |
loans.yahoo.com |
  |
FREE LOANS QUOTE - the customers champion. Finding you the right ... |
COMPARE! Let us get you a loans quote with minimal fuss. We're the UK specialists. |
www.moneyweb.co.uk |
  |
Personal Any Purpose Loans : Loans.co.uk : Personal Loans UK |
Offers consumer loans for any purpose in the United Kingdom. |
www.loans.co.uk |
  |
FinAid | Student Loans |
An education loan is a form of financial aid that must be repaid, with interest. ... The interest rate on the Stafford Loan for new loans first disbursed ... |
www.finaid.org |
  |
GovLoans.gov - Find the Right Loan for You |
GovLoans is a partnership of many Federal agencies and organizations with a shared vision - to provide improved, personalized access to government loan ... |
www.govloans.gov |
  |
Loan - Wikipedia, the free encyclopedia |
Bank loans and credit are one way to increase the money supply. ... Abuse in the granting of loans is known as predatory lending. ... |
en.wikipedia.org |
  |
Mortgages, Refinance, Home Loans, Home Equity Loans at Quicken Loans |
Online lender offers simplified residential loans and competitive mortgage rates. Headquarters in Livonia, MI. |
www.quickenloans.com |
  |
Mortgage Loans - Compare Mortgage Rates - MSN Money |
Get a mortgage loan that’s right for you. Compare mortgage loan rates of top lenders. |
moneycentral.msn.com |
  |
The Student Loans Company Ltd. |
Provides details of the Student Loans system which is part of the Government's financial support package for students. |
www.slc.co.uk |
  |
Sallie Mae - Private Student Loans, Stafford, PLUS, Student Loan ... |
Apply online for federal and private student loans, consolidate student loans; financial aid and scholarship information for college, graduate school and ... |
www.salliemae.com |
  |
Loan Guaranty Service, Home Page (U.S. Department of Veterans Affairs) |
This page provides content and information related to the Loan Guaranty Home Loan Program. |
www.homeloans.va.gov |
  |
Fool.co.uk - Compare Loans - Personal Loans and Unsecured Loans |
Compare over 200 UK loans including personal loans, secured loans, and unsecured loans. Search all loans and apply online. |
www.fool.co.uk |
  |
LendingTree Home Loans | Refinance | Home Equity | Mortgage Refinance |
Service network of lenders that enables consumers to compare rates, apply for and get approval for competitive auto loans online. |
www.lendingtree.com |
  |
Direct Loan Home Page |
The US Department of Education's lending arm for students in participating schools and student loan consolidation. |
www.ed.gov |
  |
Personal, home equity loans for union members at Union Plus |
Union Privilege offers Union Plus benefits -- including credit card, mortgage, loans, insurance, scholarships, health care savings and other discounts -- to ... |
www.unionplus.org |
  |
Countrywide Financial - Home Loans - Equity Loan Mortgages ... |
Countrywide Home Loans is the nations largest independent mortgage lender offering home equity, HELOC, refinance, mortgages, debt consolidation and other ... |
my.countrywide.com |
  |
Secured Loans UK - Secured Personal Loans - accepted.co.uk |
We search over 200 secured loan plans to find the best deal from our lenders - accepted.co.uk. |
www.accepted.co.uk |
  |
UK Loans : Personal Loans, Secured Loans, Cheap Loan Quotes |
The UK Personal Loan Store offers comparisons of the UK loans, personal and secured loans. Also offers tips, articles and latest loan news section. |
www.ukpersonalloanstore.co.uk |
  |
|