Comments on: Church Financing Loans with Low Recourse Loans

By: Blogger

Blogger — Tue, 05 Jan 2010 05:20:05 +0000

very simple but effective

By: Angelina Ballerina

Angelina Ballerina — Tue, 05 Jan 2010 01:12:44 +0000

Set up a basic credit criteria, in which based on your clients credit score or certain qualifying options that you create, you base your credit line. Ok to make this easier, you could for example use a 90% credit line for clients whose credit score (or other certain criteria because companies sometimes don't look for a certain score but more or less other items they deem necessary) is 800 or more and it goes down from there…so as if a new client you have has a 500 score you could issue them only a 10% financing line. Second, after you set your standards, go ahead and work out your governing contracts, what is your interest rate (check with other similar companies in the field)? What is your late fee and when are payments due..how about penalties? Boy, that's enough for now huh!

By: friday

friday — Tue, 05 Jan 2010 00:56:36 +0000

what is wrong with a pen and paper works real great if the electric goes off!!!

By: maganda

maganda — Mon, 04 Jan 2010 07:57:13 +0000

Are you working with a Realtor? Ask them to suggest someone.

If not, Find a Mortgage Broker/Banker who can shop the market for you and find an investor who will finance you.

If you cant find anyone, I hope you made the offer contingent on you finding financing, if not, you are out of your earnest money when you back out.

Good Luck!

By: lankhai2006

lankhai2006 — Mon, 04 Jan 2010 03:54:55 +0000

If there is an existing finance on the car, the dealer should not be selling it. The finance should have been cleared up by the repo and the car should have a clean title now.

There's nothing wrong with buying a repo. It's like any other used car. Some uninformed people might advise against it because they think such cars have been abused by the owners, knowing that they are going to lose the car. This is rarely true. The repo usually comes on quickly, in a matter of a couple of months, so there is little time to abuse the car. It wouldn't be smart anyway, because the car would sell for less at auction, and they would owe a larger balance on their loan after the repo.

By: Anthony

Anthony — Mon, 04 Jan 2010 00:08:59 +0000

You'll need a good solid business plan and have figures and answers to back it up. Plus some money out of your own pocket.

By: Anonymous

Anonymous — Sun, 03 Jan 2010 22:39:21 +0000

its help

By: Free Blog

Free Blog — Sun, 03 Jan 2010 15:06:11 +0000

nice

By: zak-civic00

zak-civic00 — Sat, 02 Jan 2010 19:29:33 +0000

Traditional financing means your payments are the same every month for the life of the loan, e.g., $500.

In balloon financing, your payments will be lower, except at the end; this will be several times higher. In such an arrangement, your payment may be $350, but your final balloon payment might be $7000.

The latter type of financing is what trips up people, as they're able to make the smaller monthly payments at least until something happens – they lose their job, the economy turns sour, they have huge medical expenses, etc. Then they find themselves unable to make that balloon payment.

When exploring your options, have you crunched your numbers to be able to afford that car? (This is an important step in preparing for a big-ticked purchase.) Next, do you have enough money saved to be able to cover that balloon payment?

By: WPBlog Shop

WPBlog Shop — Sat, 02 Jan 2010 11:38:01 +0000

Thanks