Your Questions About Title Loans

James asks…

Need cash urgently want to use car as collateral or car title loans in toronto ?

barry0912 answers:

With proof of income and a good credit rating you should be able to walk into any bank and get started on the paperwork right away.

With a poor credit rating and proof of income, you may be able to get one from any “Pay day loan” places although the fees and interest are absolutely atrocious.

With no income, regardless of your credit score your options are to either find someone to cosign for you who has a good credit score and income, or borrow money from friends/family

Steven asks…

How would an online title loan company know if my car is broke?

Has anyone ever used TURBO TITLE LOANS? It says they need a car title and a key. If it is online How do they get my car title and key? Also would they no if my car was broken? How?

barry0912 answers:

Title loan places are to be avoided at all costs. They will want to see the car.

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Your Questions About Low Cost Franchises

Chris asks…

What are some good small business or franchise ideas that require low start-up cost?

I have a full-time job, so I need something that allows me to work on it part-time or to hire a manager. If I am doing it part-time, then I would prefer for it to be home based? Any suggestions? No solicitations please.

barry0912 answers:

Dog walking,house siting,animal transporting moving company all you need is a few Buddy’s and a truck there is a lot of ways to make money in this world and the best place is still the Internet sell something buy old furniture paint it and sell it or refurnish it. Every one still loves crap sell crap on eBay open up a studio every ones still have pipe dreams of making it rich in that filed and all you will need is few pieces of equipment and a out of the way room in your house you could make tons of money on that one alone.

Jenny asks…

how to set up a franchise with low cost?

ii want to set up my business but i insufficient fund to start up,,,,,please give advise….thank you

barry0912 answers:

Tell me what type of business it is’ and how much do you need.

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Your Questions About Title Loans

Lisa asks…

how to get out of title loans?

I took out a title loan for 2000 dollars 2yrs ago and have now paid back over 3000 dollars and the loan company is saying the money went to the principal and i still owe 2000 dollars. how do i get out of this?

barry0912 answers:

Tony:

The only way “out” of a loan is to satisfy the terms and conditions that you agreed to. When you took out the loan, you signed a promissory note – that’s where you’ll find all of the details of the agreement. If you signed it, you’re responsible for everything in there. If the loan contains unconscionable terms, you might have some recourse, but even then, you’d have to demonstrate that you were either incapable of understanding the terms that you agreed to, or that you had no choice but to accept the agreement.

The repayment schedule on your loan is determined by your interest rate, by the length of time that you have to repay, and by the amount of your monthly payment. If your interest rate is high, the repayment period is long, and your monthly payment is small, it could well be possible that you still owe pretty much everything that you borrowed.

The trick to repaying a loan quickly is to pay more than the minimum payment every month – that applies to credit cards, mortgages and any other type of borrowed funds.

I’m guessing that you misunderstood one thing that the lender told you – it’s unlikely that your payments went to principal, because if they had, you’d be in good shape. I think the payments that you’ve made have all gone towards some outrageous interest charge.

Just as an example, if you borrowed $2000 at 24% and made payments of only $41 a month, you’d wind up repaying almost $7700 and it would take you more than 12 years to repay the loan.

Get out the promissory note and check your interest rate and your payment term and your payment amount, and pay as much as you can. If possible, try to refinance this debt with a lower interest rate loan.

Good luck.

John asks…

Any one ever used Title Loans?

Has anyone ever used TURBO TITLE LOANS? It says they need a car title and a key. If it is online How do they get my car title and key? Also would they no if my car was broken? How?

barry0912 answers:

A car has to be worth at least $500 on the open market to qualify for title loans. A Salvage title is allowed. Customers will be asked about the current condition of the vehicle. The car needs to be running and in drivable condition, however, it can be in the shop in some cases. Previous clients have used title loans to pay a mechanics’ bill. This way, they get their repairs even when the repair shop won’t finance the bill.

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Your Questions About Title Insurance

Robert asks…

Do i need title insurance if buying a home with cash?

There will be no mortgage on the house. What does title insurance protect me from?

barry0912 answers:

Yes you would want and need title insurance on any real estate purchase even if you are paying all cash for the property.

This title insurance would ensure that there are no liens on the property prior to you assuming ownership. Failure on your part to obtain title insurance you might have many unknown liens on the property that if you decided to refinance or sell the property would have to be paid prior to you selling or getting a refinance.

The title police guarantee that you are receiving a clear title without any other encumbrances.

I hope this has been of some benefit to you, good luck.

“FIGHT ON”

Richard asks…

Do you really need title insurance on a foreclosed house?

For example HUD recommends that a buyer of the HUD foreclose gets a title insurance. Why? Isn’t that redundant?

Also, I know some lenders that require buyers to get a title insurance on a government foreclosure.
I understand that on bank foreclosure it is necessary to have title insurance. But why on a government foreclosure? My understanding was that all the lens are dropped when you buy a government foreclosure.

barry0912 answers:

Title insurance is more important on a foreclosed home than any other. There are numerous title insurance problems that can be associated with a foreclosure. I have seen many, many incorrect legal descriptions in foreclosures; creditors (thus lienholders) omitted from the foreclosure process; and even on one occasion the entirely wrong property was foreclosed. In order to save the most money you should ask for the re-issue rate if that is possible. HUD just purchased a policy of title insurance on the property in question, you may want to go back to that title insurance company for your policy.

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Your Questions About Title Loans

Helen asks…

how long does it take to transfer mortgage title and or loans from one party to the other?

my husband and I have in our names a residential and an investment property, my husband wants to transfer his interest in my name only. Is it possible to transfer the title of mortgages only but have loans in joint names.

barry0912 answers:

Depends upon how long the title insurance company needs to complete its work. Maybe two weeks at most.

Mandy asks…

Is Rusty Wallace now doing commercials for Car Title Loans?

barry0912 answers:

Yeah, he sucks, doesn’t he?

I guess that US Fidelis company that “sold” garbage scam warranties bit the dust…

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Your Questions About Title Loans

Lisa asks…

How do car title loans work?

barry0912 answers:

You must own your vehicle free and clear and be able to provide the title or similar document to the lender as collateral.

You typically have only 30 days to repay the loan. If you cannot repay the loan, the title lender will take your car. They will sell it and keep the difference between what you owe and what the car is worth.

They typically will lend you only 20% of the car’s value. So, they stand to benefit even if they have to sell your car.

The interest rates come out to about 350%, since the loan term is so short.

These are not beneficial loan terms. I recommend you don’t get a title loan. They are quite a bit like payday loans, but the consequences are more severe if you default.

Donna asks…

Are there any sites that do online title loans in tn?

i am trying to find a site that does personal loans either with collateral or not help

barry0912 answers:

I would not trust an online loan site with my personal information. You don’t know if you are giving a real company or a fake site your social security number, date of birth, etc. Besides, how would you get the money and how would they get your title. If you must make a title loan, go to a local company that you know has been in business more than a month.

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