There are lenders that will publicize the fact that loan approvals can be guaranteed given the right circumstances, but there is a catch to the idea. Everything rests on those circumstances, so not just anyone can get the green light. It means that securing approval on personal loans with bad credit cannot be guaranteed.It is somewhat misleading to claim that guaranteed loan approval exists at all, but the reason why it is made is that, in certain circumstances, approval is pretty easy to secure. Even when low credit scores are a part of the equation, applicants can have a realistic chance of securing the funding they need.The secret? Well, it all comes down to your choice of loan application, which lending institution is applied to and the ability to accept the limits that a given financial situation places on a personal loan application. So, knowing what the available options are is important. Here are 3 of them.Loans With A CosignerThe key issue for any lender is not credit scores or even loan sums, but whether or not the borrower will be able to make the repayments. Remember, a loan is an investment for them, and they want a return on it. It is this principal that dictates whether an application for a personal loan with bad credit is a risk for the lender.The solution to this problem is a cosigner, otherwise known as a guarantor. When it comes to securing a modest loan, like $5,000, they are extremely useful. In fact, it is probably as close to securing guaranteed loan approval than a bad credit borrower is every likely to get.But there are conditions. The cosigner usually needs to be a homeowner, have an excellent credit rating and a large enough income to make monthly repayments. Their advantage, after all, is to make the repayments on the personal loan in the event that the borrower is no longer able to.Alternative Installment LoansNormally, we think of installment loans as those that require regular repayments (usually monthly) over a set period of time. But the financial strains the credit industry finds itself under has moved the goalposts a little. Now, it is a flexible solution to those seeking a personal loan with bad credit, with the loan sum paid in cash installments.This is a relatively new product, with loans of just $100 available in equal sums over a period of time – usually up to 12 months. The loan limit is usually at around $1,500, and having a source of income is essential – in fact, it is the key to securing a guaranteed loan approval.There is no need to find a guarantor, so the interest rate charged is going to be a little more, but the structure of this personal loan means the repayment term is more flexible. Once it is ascertained that the loan is affordable, then approval is practically guaranteed.Choosing a Payday LoanThis is a hugely popular option, but in terms of getting good terms on a personal loan with bad credit, it fails to impress. Bad credit borrowers frequently seek out the best bet when it comes to loans, but not always the best terms. Because a payday loan is granted on the back of an imminent paycheck, the chances of a successful application are greater.Guaranteed loan approval is not exactly given however, since usually the loan must be repaid in one payment after just 30 days. And with the interest rate very high (30%), it means a $1,500 personal loan needs $1,950 to be paid off. That is a lot to take from one paycheck, but if it is affordable, then the loan is granted.
How to Buy a Home Without Bank Financing Using Subject To or Owner Financing Techniques
What is “Subject To”?Subject To refers to a form of financing where the purchaser buys a home “Subject To” all encumbrances (including but not limited to existing mortgages, back taxes, liens, etc.). Most commonly when you purchase a home utilizing the “Subject To” method, you can expect that the existing mortgage will be what you are taking over. So you would be purchasing the home “subject to” the terms of the existing mortgage, leaving it in place.This method is used largely in situations where the home seller is unable to sell their home using conventional means or they need to sell quickly. Because there is no need to obtain new financing, the process can be completed very quickly (in as little as 2-3 days). Obtaining a new mortgage is typically the most time consuming portion of the purchase process. You have to go through the entire approval process, qualifying for the mortgage, providing numerous documents, etc. With “subject to” financing none of this is necessary, in fact there is no need to utilize a new bank at all.Let me outline how this would work in the real world. You must first find a seller that is motivated to sell their home. Keep in mind there are many reasons a seller becomes “motivated”, not all of them are financial. A seller that needs to upsize or downsize can become motivated. Military sellers are prime candidates to become motivated, as often times they are given short notice to relocate. Sellers facing a divorce often become motivated because they just want “out”. Individuals who have received a job offer in another city or state will often become motivated. You get the idea. Be creative and you will soon be able to spot a motivated seller a mile away.After you have identified your motivated seller, you meet with them to explain what the benefits of working with you to sell their home is. You explain it in the most comprehensive format, which is calling it “Owner financing”. There is very little difference between “subject to” and owner financing”. I will explain this shortly. Everyone has some concept and understanding as to what “owner financing” is. This will help open the dialog and offer a level of explanation. Many times sellers are behind on their payments and you can explain by selling the home to you will improve their credit scores and avoid a foreclosure on their record by taking over their payments and paying on time. If they are not behind, then identify what it is that they are trying to accomplish, and explain how selling to you will help them accomplish this goal (fast sale, highest offer, no need to repair etc.).After they agree, you need to sign a contract stating that you are buying the home for a purchase price of at least the payoff amount (most times this is an adequate offer). Remember you are offering them a quick sale. The contract must state that you are buying the home “subject to the existing financing”, and that all parties understand that the mortgage will remain in the sellers’ name.This raises the next most common question I get asked, “If the mortgage is still in the sellers name, how am I the owner?”. I am glad you asked! Much like the title to your car, a deed shows ownership of a specific property. If you sell your car what do you do to transfer ownership? That’s right you sign over the title. Likewise, when a homeowner sells their home, they sign over the deed. The deed and the mortgage are two separate documents. The deed shows ownership, the mortgage indicates who owes the bank money. The bank wants something of value to ensure that they will get the money paid back that the borrower owes. That is why a bank puts a lien on the property (thus the term “subject to” the mortgage). Are you starting to get the idea here? Exciting huh? You can actually buy a home without getting a new loan, paying loan origination fees, or all of the other garbage fees necessary to close on a home with a new lender. So of course you are still subject to fulfill the obligations of the original loan agreement or the bank will have the right to foreclose on the property if payments are not made.I told you earlier there were minor differences between “subject to” and “owner financing, so let’s go over them now. First and foremost a true “owner finance” would not have an existing mortgage. The seller would own the property free and clear. So really it comes down to who you send the payments to. If the seller owns the property free and clear, you are safe to make payments to the seller. If you are buying “subject to” the existing mortgage, you do not ever want to make payments to the seller. You want to send them directly to the bank so that you know that the payment has been made. Why? Because if for some reason you send the payment to the seller and they decide not to make the payment to the bank, then you risk having the bank foreclose on the home through no fault of your own (except not listening to me!). Secondly with “subject to” the payments, interest rate, and terms are already set. With a true “owner finance”, this would all be negotiable (I recommend you start with 0% financing).Next, the closing attorney or escrow agent (title company in some areas), is responsible for carrying out the agreements in your contract. You want to work with a knowledgeable, investor friendly agent to perform these tasks. They will do a title search. This is imperative, as this will disclose any and all mortgages, liens, back taxes, etc. Remember you are taking this home “subject to” all of these things. The purchase agreement (contract) is written exactly like any other purchase agreement. You just need to add the important verbiage that directs the closing agent of your wished (see above).This is an exceptional way to buy a home without obtaining new financing. You do not have to be “qualified” to utilize this method of financing, because the loan has already been issued. All you do is set up automatic payments to go directly to the bank. Everyone is happy. The seller sold their home, you the buyer purchased a home without new financing, and the bank although they are unaware continue to receive their payments and interest (after all that is what they are in business to do). So now that you know an alternate method of purchasing your own personal home or investment properties, there is no need to participate in the so called “credit crunch” Happy buying!
How Do I Connect My iPad 2 to a Network?
To get on the web, your iPad must first connect to a network that offers Internet access. To make this easy and seamless, your iPad comes with internal hardware that enables it to detect and connect to available networks.iPad 2 comes in two versions:- iPad with WI-FI: This type of iPad can connect only to wireless networks- iPad with WI-FI + 3G: This type of iPad can connect to wireless networks and cellular networks.Understanding Wi-Fi networks
Wireless devices such as Apple iPad 2 transmit data and communicate with other devices using radio frequency (RF) signals that are beamed from one device to another. Although these radio signals are similar to those used in commercial radio broadcasts, they operate on a different frequency. The most common wireless networking technology is Wi-Fi. There are four main types – 802.11a, 802.11b, 802.11g, and 802.11n (we will not explain these types in details, it is enough for you to know what types exist). Apple iPad 2 supports all types of wireless types which means it can take advantage of the fastest wireless networks out there, particularly those based on Apple’s AirPort Extreme wireless acces point.Understanding cellular networks
If your iPad is a second model, it means not only can your iPad connect to wireless networks and hot spots, but it also can make use of a cellular network if no wireless networks are in range. There are two specific types of cellular networks: 3G and EDGE (again, we will not explain in details). Unfortunately, although you can often ride the wireless train for free, there’s no such luck when it comes to cellular networks. Your iPad’s 3G chip won’t work unless you plug a micro-SIM into the iPad’s micro-SIM slot (located on the left edge of the device when you hold it in portrait mode).Connecting to a Wi-Fi Network
As soon as you try to access something on the Internet, your iPad scours the surrounding airwaves for wireless network signals. This dialog displays a list of the networks that are within range. For each network, you get three tidbits of data:
Network name. This is the name that the administrator has assigned to the network. If you are in a coffee shop or similar hot spot and you want to use that network, look for the name of the shop.
Password-protected. If network displays a lock icon, it means the network is protected by a password, and you need to know that password to make the connection.
Signal strength. This icon gives you a rough idea of how strong the wireless signals are. The stronger the signal (the more bars you see, the better the signal), the more likely you are to get a fast and reliable connection.
Making your first connection
Follow these steps to connect to a Wi-Fi network:
Tap the network you want to use. If the network is protected by a password, your iPad 2 prompts you to type the password.
Use the keyboard to type the password.
Tap Join. The iPad connects to the network and adds the wireless network signal strength icon to the status bar.
To connect to a commercial Wi-Fi operation – such as those you find in airports, hotels, and convention centers – you almost always have to make one more step. In most cases, the network prompts you for your name and credit card data so you can be charged for accessing the network.Connecting to known networks
If network is one that you use all the time – for example, your office network or home – the good news is your Apple iPad 2 remembers any network you connect to. As soon as a known network comes within range, your iPad makes the connection.Stopping the incessant Wi-Fi network prompts
The Select a Network dialog is a handy convenience if you are not sure whether a network is available. However, as you move around town, you may find that dialog popping up all over the place as new Wi-Fi networks come within range. If you don’t want to be bothered with constant tapping the Cancel button, there is a solution:
On the Home screen, tap Settings. The Settings screen appears.
Tap Wi-Fi. Apple iPad 2 opens the wireless network screen.
Tap the Ask to Join Network switch to the Off position. Your iPad no longer prompts you with nearby networks.
Now you no longer see the prompts, and you don’t know when you are able to connect to network right??? Here is the answer:
On the Home screen, tap Settings. Your iPad 2 displays the Settings screen.
Tap Wi-Fi. The Wireless Networks screen appears, and the Choose a Network list shows you the available networks.
Tap the network you want to use. If the network is protected by a password, your Apple iPad prompts you to type the password.
Use the keyboard to type the password.
Tap Join. The iPad connects to the network and adds the network signal strength icon to the status bar.
Connecting to a hidden Wi-Fi network
Some users disable network name broadcasting (you can’t see the name of the network in available network connections box) as a security precaution. The idea here is that if an unauthorized user can’t see the network, he or she can’t attempt to connect to it. You can still connect to a hidden network by entering the connection settings by hand. But you need to know the network name, the network’s security type, and the network’s password. Here are the steps how to connect to a hidden network:
On the Home screen, tap Settings to open the Settings screen.
Tap Wi-Fi. You see the Networks screen
Tap Other. Your iPad 2 displays the Other Network screen.
Use the Name text box to type the network name.
Tap Security to open the Security screen.
Tap the type of security used by the Wi-Fi network: WEP, WPA, WPA2, WPA Enterprise, WPA2 Enterprise, or None.
Tap Other Network to return to the Other Network screen. If you chose WEP, WPA, WPA2, WPA Enterprise, or WPA2 Enterprise, your iPad prompts you to type the password.
Use the keyboard to type the password.
Tap Join. The Apple iPad 2 connects to the network and adds the network signal strength icon to the status bar.
Turning off the Wi-Fi antenna to save power
If you know you won’t be using wireless for a while, you can save some battery juice for more important pursuits by turning off your iPad’s antenna. Here’s how:
On the Home Screen, tap Settings. The Settings screen appears.
Tap Wi-Fi. The Wireless Networks screen appears.
Tap the Wi-Fi switch to the Off position. Your iPad 2 disconnects from your current network and hides the Choose a Networks list.
When you are ready to resume your Wi-Fi duties, return to the Networks screen and tap the Wi-Fi switch to the On position.