Tag Archives: under
Logbook loans: Derive sufficient funds by using your logbook
Owing a vehicle under your name is the most helpful asset that allows you to take finance in crisis by the means of logbook loans. Under these loans you have to put the logbook of your vehicle as a security to the lender against the loan amount. The best part about these loans is that after approving your loan you can still enjoy the great chance to drive your vehicle anywhere you want without any restriction. However, it is your responsibility to keep the vehicle in good condition.
A logbook is a legal document that contains the details of your vehicle like VIN number, vehicles model number, engine number, chassis number, registration number, vehicles color and name of the owner. These kinds of Car Logbook Loans help you to avail quick monetary backing by pledging your vehicle logbook papers as a security.
However, there are some requirements which you have to fulfill for the approval of logbook loans like-you must be over 18 years of age, your name should be matched with owners name in logbook, you should have regular employment with fixed monthly income, your vehicle should be more than 8 years old and there should be any financial dues against your vehicle and it has to be insured.
Under the provision of Car Logbook Loans you can raise funds anywhere in between £500 to £50,000 for the flexible repayment tenure of 5 to 7 years. The borrowed money can be used to meet a number of financial purposes like pay out urgent household bills, debt consolidation, home renovation, arranging a holiday with family and so on.
Those who have questionable credit status can also avail these loans without any restriction as they are free from any credit check procedure. Thus, no problem if you have bad credit tag due to CCJ, IVA, bankruptcy, insolvency, foreclosures etc.
If you want to apply for logbook loans without any hassle, then you must go for online medium. Online application procedure is much convenient, easy, effortless and fast. Here plenty lenders are involved with free loan quotes offer. A careful comparison of these quotes can avail you the most lucrative loan deal at a nominal rate without much struggle.
How to Get a Countrywide Loan Modification
Getting a Countrywide loan modification is easier than ever. The lender has started a streamlined approval process and their debt to income requirement has fallen to 34%. If you’re looking to get a countrywide loan modification, keep the following points in mind to make your chances for approval rise and to take a load of stress off your shoulders filling out the paperwork and waiting to get a response.
You’re statistically more likely to be approved if you know Countrywide’s requirements first. A few lenders do have the information online, but in most cases you will need to call and speak to their loss mitigation department to get the requirements. You can also get the details on their modification programs from the loss mitigation department.
You can either choose to handle your countrywide loan modification yourself, or you may hire some assistance. Under the Home Affordable Modification Program all homeowners attempting to get a modification are eligible to speak with an FHA representative and to possibly have them negotiate with Countrywide. There are also modification companies available to give you the same services as the FHA reps, but for a fee. These are useful if the wait for an FHA representative is too long. It’s recommended to get assistance when trying to get a modification from Countrywide.
You don’t just have to fill out the application for modification, you also have to write a hardship letter to explain why you need to have your mortgage modified. The hardship letter may seem intimidating, but there are plenty of sources on line for samples and tips on writing it. If you use some sort of specialist, they will help you write up the letter.
It’s worth mentioning that Countrywide only accepts modifications on mortgages started between January, 2004 and December, 2007. Also that Countrywide is now owned by Bank of America, meaning that their requirements are identical to those of Bank of America.
If your mortgage is under Countrywide, it shouldn’t be too difficult to get a modification as long as you are backed by some sort of professional. Their approval rate has skyrocketed, though their program selection isn’t great.
Also keep in mind that it takes eight weeks for a Countrywide loan modification to be approved. So while a loan modification can help you, it is not an instant solution. What’s more is the modification is not an excuse to not make your payments. Be prompt with your monthly payments while awaiting approval.