March 25, 2014
Where To Find Emergency Sources Of Cash
In today’s volatile economic times, there may come a time when you need a source of emergency funds. It can be difficult and frustrating trying to meet one’s financial obligations. An emergency, such as a vehicle repair or an unforeseen medical expense, can further add to that frustration as attempting to find that extra cash adds even more stress. There are solutions, though. Here are some great sources for emergency cash.
Banks and credit unions will do small loans for families that are in need. The problem with these types of loans is that they do take time. Financial institutions will check credit histories and employment histories to ensure that you are not too much of a credit risk. In today’s economy, many people have taken hits on their credit too and, as a result, may not qualify for a bank loan.
Car Title Loans
A more likely emergency source is a car title loan. If a potential borrower has a vehicle with a clean title, he or she can use it as collateral for a title loan. There are no lengthy credit or background checks and loans are processed usually within 24 hours. It’s a quick source of emergency cash.
Like a car title loan, a payday loan is a quick source of funds. If a borrower has a job, he or she can borrow against a future paycheck and receive the necessary funds within a day. Most payday loans can be processed in as little as 15 minutes.
Last, but not least, there is the home loan. A home loan, also called mortgage loan, is a financial assistance from either a bank or a private lender in order to buy a house or a condominium. Before you get a mortgage loan you must be aware of your own financial circumstances. Do you have enough money to buy your dream home? Do you have big debt that you will need to sort out first? It’s not easy. For more information about home loans, visit the Kowalski Company.