Borrowing Made Simple

As more and more businesses go online, the Internet has created many new and useful options for borrowers. An increasing number of lenders serving the United States of America offer lending services that are easily accessed online. For those who are looking for fast access to cash, online lenders provide a rapid, convenient way to secure a loan.

Borrowing in the digital age has huge advantages to those unfamiliar with small dollar loans. While lenders can offer their services online, the internet also gives borrowers the opportunity do a bit of homework to acquaint themselves with the loan industry. When technical terminology obscures the meaning behind terms, borrowers can easily find online glossaries and informative articles clarifying unusual words or topics.

Responsible lending practices compel online lenders to cut confusing jargon down to a minimum. Trustworthy lenders like MoneyKey don’t want to complicate matters or confuse their customers, so they take pains to make sure their terms and rates are clear. Representatives from MoneyKey are available via phone, email or online chat to go over any issues potential borrowers have with their services. If borrowers ever speak to a representative who fails to answer questions or to clarify terms, then they don’t act on behalf of MoneyKey and should not be trusted.

One of the many questions one can ask regarding lending practices is the types of loans that are available. A single-pay loan is a small amount of money that is to be repaid in one lump sum at an agreed upon time in the future, that usually coincides with the borrower’s next paycheck. For those whose situation restricts them from paying back the entirety of the loan in one lump sum, flex-pay installment loans can be arranged, allowing borrowers to repay their loan in scheduled increments. For more information on how a flex-pay installment loan plan might work for you, head to MoneyKey is a trusted, ethical, and efficient organization that can dispel any confusions about the process and, if you qualify for a loan, get you money extremely quickly. MoneyKey also provides lines of credit, which are ideal when cash needs to be accessed over a longer term; borrowers can withdraw money against their principal loan as necessary, paying a minimum monthly payment.

Securing a loan is simple when the application is all online. Filling out an application is incredibly easy, and lenders can process these requests very quickly. In most cases, loans are approved within 20 minutes after the borrower applies and funds can be deposited into a checking account within the next business day. Borrowers can also rest assured their personal data is fully protected when their lender adopts advanced security provisions to safeguard information. Firewall, encryption, and Verified Site Certificates should all be employed to protect borrowers from fraud.

As lenders have embraced online lending practices, the internet offers great simplicity, speed, and convenience for individuals looking for cash. With a few simple clicks, people in desperate need of extra money can obtain a manageable loan that can relieve financial stress.

5 Things You Waste Money on Every Day, Week, and Month

5 Things You Waste Money on Every Day, Week, and MonthWhether it’s our morning multi-vitamin or the cable TV we unwind with after a long day, the opportunities to waste money are everywhere. By simply changing our routine or doing a little research, the daily cost of our most essential comforts and necessities can be cut in two. Read on to learn about 5 ways you can save more without much effort.

Your Daily Coffee Run

Oh, sweet addiction. For many of us, this one can be a hard habit to break. But getting your morning fix doesn’t have to break the bank. With the average cup of coffee costing around 2 or 3 dollars, the monthly cost of your daily coffee break can really add up. Once you start brewing it yourself, you’ll find that you not only save more money — but you can get a much better cup of coffee as well. Our simple tip: brew it yourself to pay less than a quarter for every cup.

Don’t Waste Money on Investment Fees

So you’ve managed to save some money, you have a healthy emergency fund, and you’ve even been able to put some of your savings to work on the stock market. If you’ve decided on an index fund, maximize your investment by remaining wary of management fees and other hidden charges. Understand exactly the product you’re buying. With index funds, for example, expense ratios vary widely despite the fact that the “management” of an index fund is relatively hands off. If you’re investing in an index fund with a 1% management fee, consider Vanguard, where an S&P 500 index fund has fees as low as 0.05%. Over the course of time, this would add up to tens of thousands of dollars wasted. It’s the same exact product, don’t get ripped off.

Cable TV

First question: Do you pay for cable? Second question: Do you watch TV every day? If you’re anything like the average media consumer — chances are you do a lot less channel surfing and a lot more streaming. In fact, streaming has become so popular that cable networks are being forced to reassess the way they do business. If you find yourself streaming more than watching live TV, think about how much you’re paying a month for a service you rarely use and consider “cutting the cord”. There are plenty of resources online to learn more about cord cutting, start with “Cord Cutting 101” from Digital Trends to shave your monthly entertainment bill in half without sacrificing the programs you typically watch on live TV.

Forgetting about the Thermostat

Did you know that you can save up to 15% by adjusting your thermostat a few degrees? If you lower your thermostat for just eight hours a day, you’ll find that the energy savings you make will have a very real impact on your bill, leaving you with more money to stash away. A basic programmable thermostat will cost you under $50 and can ensure that you’re not wasting money. Or, consider investing in one of the new, smart thermostats being introduced to the market to put the process on autopilot.

Over-Insuring Your Vehicle or Home

Having a low deductible can sound like a nice thing, and most insurance providers will do their best to sell it to you by reminding you of the “potential” cost of a claim down the line. When the insurance salesman is describing all the possible things that can go wrong, take it with a grain of salt. Keep in mind that you’ll pay quite a bit more in higher premiums with a low deductible. If you’ve done your financial-planning homework, you’ll have an emergency fund that makes paying a higher-deductible no problem. Our tip? Pay less and save more. Raising your deductible to $500 or $1,000 can help you save from 15% to 40% on your auto insurance. If you can handle the deductible expense, don’t waste money by paying more for insurance each month.

The seemingly small amounts of money that we waste every day, week, or month really do add up. By making a few small tweaks, you can save quite a bit of money.

Home Ownership: Smart Things to Do Before You Buy

Before you buy a home, you should make sure you run through a checklist. What checklist? Why, a checklist of “to-dos” for new homeowners, of course. Here’s what you need to know to make a smart home buying decision.

Order Your Credit Reports

Before you do anything, check your credit. Fortunately, this is pretty easy to do. Just go to and order your free credit report. Everyone is entitled to one free one each year.

Once you see what’s inside, you might be shocked. It’s common for lenders and credit card companies and medical billing departments to make mistakes or report credit issues in a way that’s not favorable to you. Mistakes like marking payments late that were on time or marking a paid off loan as “settled as agreed” instead of “paid as agreed” can make a dramatic difference in your credit score and perceived trustworthiness.

It’s easy to fix these things though – all you have to do is contact the credit bureau and explain that there’s been a mistake. Provide proof of the error (usually in written form), and they have to correct it.

Another tactic used by mortgage lenders is something called Rapid Rescoring. Rapid Rescore is an unofficial updating of your credit file. The lender will find errors for you and dispute them much faster than you could yourself. When you go it alone, the bureaus have 30 days to investigate the issue and get back to you. With Rapid Rescore, the errors are removed within days.

This process sometimes gets confused for credit repair. It’s not the same thing. With some credit repair firms, a company will try to sell you on the idea of fixing errors on your credit report. What they sometimes end up doing is fighting to remove legitimate negative or derogatory remarks.

When rescoring costs between $25 and $30 per updated account, a credit repair firm may try to charge you several hundred or several thousand dollars. Rescoring isn’t magic, but it may help boost your score by several points which may be enough to get the rate you need.

Organize All Of Your Documents

Lenders need documents to proceed with the loan application. But, before you fill out an application, there are several legal stages you should go through, including a property conveyance or survey. The survey will tell you about potential issues with the land and building structure or structures on the property.

This is different from a mortgage valuation where the bank tries to assess whether the property is a worthy risk. Mortgage lenders do want their money back, so they will assess the property, and most homeowners mistakenly believe that if it’s good enough for the bank it must be good enough for them. Wrong.

You see, the bank doesn’t just rely on the home to secure the loan. The lender also relies on the buyer’s creditworthiness. That’s you. The bank isn’t afraid to come after you for the money if you don’t pay.

As a last resort, they will foreclose on the house, but since that’s expensive, they will always try to get the money from you – you’re responsible for the home. And, in many cases, banks make you pick up private mortgage insurance, so even if you don’t pay, they still get paid, and the condition of the home becomes a secondary concern.

You, on the other hand, can’t get out from under your loan quite as easily. And, you have to live there – the lender doesn’t. You are responsible for repairs. The lender isn’t. Bottom line: it pays to get a survey done.

Other documents you might need include your pay stubs for the bank (or a copy of last year’s tax return), proof of income or savings, including bank accounts, and investment accounts. You may also be required to show 12 months of on-time rent checks if you’re a renter now.

If you’re divorced, you will need to show the divorce decree, proof of a child’s age if you pay child support or receive it (as income), and any bankruptcy discharge papers if you’ve filed bankruptcy in the past. Lenders will also require letters explaining any negative or derogatory items on your credit report.

Make A Budget

Make a budget that includes your mortgage payment, along with your other expenses, homeowner’s insurance, and maintenance fund – yes, set aside money for property maintenance. You will definitely need it. Analyze it and make sure you can really afford a home.

Consider Where You Want To Live

There are a lot of places you can live, and price swings dramatically depending on location. You’ve probably heard this before. Real estate agents love to harp on it, but usually they frame it in terms of your return on investment in the house.

If you need to live near a school, or you have special considerations (like you enjoy country life or city life), make sure your real estate agent understand these things.

Start Saving

Start saving up for your home. Ideally, you’ll put 20 percent down to avoid private mortgage insurance, but it’s rare for homeowners to do this. Just save up as much as you can, and be relentless with the bank when negotiating your mortgage rate.

Lucas Coleman is a real estate associate. He loves to share his experiences on the web. His posts appear mainly on real estate and financial sites.

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