Cash Pay Advance

My wife and I have finally found the house we want to buy. When we approached our mortgage broker 2.5 weeks ago, we were told this would be very easy and we could close in 10 - 14 days. After 2 weeks of constantly providing “1 more” piece of information for the underwriters (which we did quickly and accurately), we were finally told that they would not approve a “full doc” loan?
Here are the basics:
- We have over 80% of the cost of the house in an account designed to pay for the house (20% down, plus a chunk to draw interest and make monthly payments)
- We have “spotless” credit
- My annual salary for the last 3 years rank me in the top 1% of the US
- I have stocks worth 3 times the cost of the house
- It is a jumbo loan

I was told it was taken to the highest level of the corporation and they said “NO” and if I have that much money I should pay cash for the house.

What is a “full doc” loan? What are my options? Does this seem odd?

I need money really badly. I just started working again, but since we only get paid every other week, I probably won’t get paid until the 1st of next month. Rent and utilities ranges from $350 to $400 (higher end now because of the heat), plus gas and groceries. To make matters worse, I got pulled over for speeding today, and don’t have anything that I should except insurance. Ended up with a $206 ticket and $100 towing fee. I had to pay for the towing right then and there, and I’m now left with about $100. I have gone to all sorts of “cash/payday advance” places and they won’t help because I haven’t been working long enough. My bank will only do a minimum $5,000 loan, which I wouldn’t even qualify for in the first place. I am in an arrangement with roommates where we have split all the expenses between four people. But if one of us doesn’t pay, the other three have to pick up the slack, because the realtor still wants their money, and none of us really make that much anyway. Advice???

My credit card offers a rate of 1.99% annual interest on cash advances plus a flat rate service charge of 1% of the cash advance amount in order to borrow money from the credit card company.

(E.g. $5000 loan is subject to $50 charge + 1.99% interest)

Therefore I was thinking of taking out a cash advance from the card and throwing it into a high-yield savings account (4-5% annually) for a period of one year.

I know people say you shouldn’t invest with other people’s money, but this is a secure investment that is guaranteed to grow - not stocks. I also would not borrow more from the credit card than I am able to pay back at any time.

It seems I would in all owe the credit card people roughly 2.99% of the principal in interest, whereas I would be earning interest at a 4-5% clip.

The earnings certainly wouldn’t be vast, but considering the simplicity of the transaction I’m starting to wonder why not?

So - why not?

P.S. - no additional fees involved in opening the savings accoun

The end of the school year is coming up fats and im starting to think about what i want to do afterwards. i was considering taking a gap year and earning some money. Hopefully enough for a deposit on a house. i was then thinking about moving to brisbane and taking out a interest only home loan on a small 2 or 3 bedroom house. This would mean i could rent out the spare rooms for the cash to put towards the home loan. plus help from centrelink after my 18 month period and a small part time job. I would then either hopefully fix up the house a little bit and sell after a while. My questions are: Would i be granted a home loan at such a young age even with a deposit? Would i make a profit in a city like brisbane? I would appreciate any help with this matter.

I currently have a full-time job and I’m also a full-time student. Money never seems to last and I always need more (just like the rest of the world). I have loans but would prefer not to be in debt for the rest of my life plus I don’t really have time to wait for the entire approval process. I’d appreciate any helpful feedback. Thanks!

I am closing on my new house (construction to permanent loan) which is a 30 yr fixed at 5.75% interest. I had to have a $20,000 allowance in case something unexpected came up during the construction. It doesnt look like i’ll have to use that money, so I can either get the money back cash or take it off my mortgage. I have an ATV loan with a payoff of $6000 @ 7.75% and my student loan at $7200 @5.50%. I was thinking of paying off those 2 loans with the allowance. Does this make good financial sense? I owe 3 yrs on the ATV and god knows how long on student loans about 7 or 8 yrs i think. ATV loan is $165/mo and the other is $78/mo.
house is $167000 @5.75% plus whatever i take of that allowance. I cant figure out which is the best move?

i am in deep shit, my dad just bought me a car and the lady was suppose to clear the check from my account in one week, i spend the money on gambling stupid me and if i dont come up with 4 grand within one week, i am screwed my dads credit 800 plus will be fucked, and my parents will literally break, i called all cards, 3 of 4 was maxed out, i called amex and they said i could do an over the counter cash advance with my list pin number, i can only do 2 thousand in 7 days so one i need to know which banks will do over the counter cash advanced for amex, understandign most do only visa and mastercard, second wehre will i get the toehr 2500 in 7 days please i am begiing for help

I have enough money to pay my bills, but it seems a lot of the time, they come at the wrong time. The payment clears before our paycheck gets put in and so the overdraft kicks in and then I owe the overdraft plus fees. What am I supposed to do to prevent that? I am definitely living paycheck to paycheck and it hurts. Should I try a debt consolidation loan to lower my payments. Any suggestions would help. Thanks!

Im able to pay my bills on time, i have about one thousand in savings but ive run into an emergency and i need a loan for about 5,000. This is an emergency so waiting is NOT and option. I cant afford to wait for a credit card in the mail plus i doubt that i would be approved for that high of a credit line. I need 5 grand in about a week. 615 is my score. I’ve read over and over about how terrible the interest is with cash call so yes, im aware but desperate times call for desperate measures and ill do whatever it takes. (within legal limits of course)

p.s. i dont belong to a credit union. I bank with Bank of America.

I’m single & have lived alone for 18 yrs. I’m unemployed & doing SOME housecleaning making VERY little money to get by. I have NO family to loan me money & NO assets to sell for cash & a ‘94 Civic that’s NOW needing various repairs. Rents due & I DON’T have it & have NO place to go. I asked a girlfriend I’ve known for 30 yrs to move in & SPLIT the rent, etc., for a couple of months to avoid eviction. My girlfriend agreed since she too has money issues BUT, she HAS family whom have given her thousands, a 2004 PT Cruiser, 2005 fully loaded Ford Focus, a Harley Davidson, lots of nice jewelry, an earth contact home she’s waiting to move into as soon as her ex-husband moves in 2 months, IRA’s & retirement savings & a marine gentlemen whom she practically lives with PLUS she makes approx. $700 or more doing internet real estate AND she has a 17 yr son.
My girlfriend & I agreed ONLY she would move in while her son lives with a classmate until he graduates H.S. next May.
Without 1st discussing with me, she’s moving her son in too BUT tells me she is paying $250 of the $500 rent & HASN’T found the time to arrange the cost of her paying half (1/2) of ALL the utilities PLUS cable/internet. ALL my furniture including my washer/dryer will be used EXCEPT for her son’s bed.
I have MY ex boyfriends laptop & plan to sell his laptop to help pay a portion of my rent due. I have counted on selling it since I have NO other assets. etc., to get some cash I DESPERATELY need. My girlfriend WANTS the laptop for her son & says she will give me $75 BUT I can get $150. I’ve told her this, it pissed her off so she contacted MY ex boyfriend (BEHIND MY BACK), Now MY ex boyfriend says he’ll just let her son “use” the laptop.
I’m EXTREMELY pissed since she has been FULLY aware of my plans to sell the laptop for DESPERATELY needed cash & unlike her, I DON’T have big assets NOR family NOR a marine boyfriend—I HAVE NOTHING.
*** I have the laptop in MY possession and MY ex boyfriend does NOT & has NOT cared I have his lap top. I’ve budgeted $150 & decided NOT to sell her the laptop since she wants to pay me ONLY $75 for it even BEFORE she went behind my back to MY ex boyfriend & I DON’T care if this pisses her off. Am I in the wrong? How would you feel?

See, I really dont want to sit on the plane for 5 hours by myself doing nothing so I want to buy an IPOD nano for $150.00 plus the whole protection thing so about $175.00. How do I get the cash without asking for a loan from my parents?

I was seeing a man 19 years older then me (I was 20) for two years. Over the course of that time, I loaned him huge amounts of money. I have over $900.00 in cleared checks from the bank that I had written him. He had been separated from his wife and going through a bad divorce and needed money, plus he was way behind on his bills. I took out a $15,000.00 student loan and gave it to him in cash. 4 months after I gave him the money, I caught him with another woman. He goes to church and has everyone fooled. Should I pay the student loan for the next 25 years of my life while he’s living high on the hog? Or should I do something about it? I don’t know what to do because I definately can’t afford to pay the loan. I don’t have any written proof that I gave it to him because he made me give it to him in cash. What on earth am I going to do???

ok, so like all of us im human and well a friend of mine about a month ago reached out to me to borrow some cash from me…i have known him for 5 yrs now, and hes been there for me many times…hes been workin at the same place (where his paychecks average 800-1200) every two weeks and plus he was set to recieve financial aid as well, so i didnt think it would be an issue and reluctantly i borrowed him the 600 and he said he was gonna try to multiply it and if he cant he will pay me back a g regardless of how that goes. my other friend was present thru thhis whole process. anyways guess what its been a month now and no promise to pay yet. so heres my question, how do i cleverly get my money back from this kid?hes like a brother to me and maybe financial aid isnt there yet, he showed me the loan release date but its not here yet and i dont wanna have to go to court over this, but i realize i might have to consider that. any ideas?
he said he wouldve made half the payment by now according to our initial agreement but things are not going according to plan(according to what he says) so im gettin impateint.

yesterday i loaned a friend some money to put gas in her car, it was a crisis and she really needed help.
She said she would have the money back to me today, but she is not answering my calls.
my husband has just become unemployed and we need all the money we have got, and she knows this….so why would she avoid my calls?
i have felt for a while now that she uses me, she always expects me to offer her a bed to sleep on when she is in my town, plus she stole my car in the middle of the night one time so she could meet up for sex with guys off the net.
she never calls me, she only gets in touch when she wants something, and she never says thankyou.
will i get my cash back, or did i get played?

I friend of mine got a Direct Loan Plus for his college son, this year, and last year. My friend said he did not use the money from the Direct Loan Plus, last year and doubts he will use it this year. My friend never saw the money. It was not deposited in his his account.

My questions are:
1. Can the student acess the Direct Loan Plus without his parent’s signature or knowledge?
2. Where is the money deposited that this Plus loan provides?
3. Does the parent have to sign, when he acesses the Direct Plus Loan, at the time of the disbursement, of the cash?
If money is given to the college in the parent’s name, and the student does not use this money, where does the money get deposited? Is it returned to the lender?

thanks.

Recently, the Financial Industry Regulatory Authority warned investors to think twice before taking steps that might compromise their nest eggs, such as taking out a reverse mortgage, getting a 401(k) debit card, or cashing in life insurance policies to weather tough financial times. According to FINRA, life settlements can be a valuable source of liquidity if you would otherwise surrender your life insurance policy or allow it to lapse, or if your life insurance needs have changed. But you need to evaluate a number of factors, including your health, your spouse’s health, other sources of income, the reason you’re tapping your home equity, when to do it, and how wisely you use your loan proceeds - before deciding whether a reverse mortgage is right or not. In tough economic times, beware these critical nest-egg mistakes - MarketWatch Intraday data provided by Interactive Data Real Time Services , a division of Interactive Data Corp. Find Out More

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Or put another way

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