Category: Blog

Tips For Hard Money Borrowers

What is a hard money loan?

There are several different types of loans out their available for people to borrow from, these include- mortgages, student loans, personal loans, the notorious pay-day loan, and hard money loans among others. While the size and length or term of a loan will vary depending on a variety of factors including the borrower’s financial status and credit history, the lender, loan purpose, interest rates, and much more. A hard money loan works by using the value of real property being used as collateral as opposed to evaluating a borrower by their creditworthiness. Due to the use of property as collateral, hard money loans are almost always conducted between individuals and companies rather than traditional banks. Hard money loans like those offered by California hard money direct allow borrowers to raise money quickly though at higher cost and rates. Common uses for a hard money loan include- property flippers, and those with bad credit but solid equity on their home, among others.

Things to consider

There are a bevy of important considerations to make and decide upon before accepting a hard money loan. First, realize that hard money loans carry significantly higher risk and cost, at the same time these loans provide less stringent requirements in terms of loan approval, quicker access to potentially necessary capital, and the ability to adjust/customize repayment schedules. Many times hard money loan investors are not as concerned about immediate repayment due to their desire to attain much greater profits should the borrower default and the property that served as basis for the hard money loan be resold by the original lenders.

Another important thing to note is that the Loan To Value or LTV ratio’s of a hard money loan tends to be much smaller than a traditional mortgage loan, which is usually around 80% LTV ratio as opposed to a hard money loan which may vary from 50% to 70% and above LTV. As is true with all loans the riskier the loan is the higher the interest payments a borrower must make, with a loan from a company like California hard money direct a borrower will likely have to pay (as of 2019) between 7.5% and 15% interest depending on the borrower and the overall length of the loan, in comparison during that same period (2019) prime interest rates were sitting at a significantly lower average of … Read the rest

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How the Gig Economy Impacts Background Screening

Gig work is everywhere. If you don’t know what a gig is, you probably haven’t spent much time around the internet. Loosely defined, a gig is a short, one-off, job that pays on a per participant basis. Ridesharing companies are the most obvious example of a gig-based business model, but there are many, many others.

Food delivery is a popular gig. Nowadays, though, there are gig companies for massage therapists, clinical psychologists, doctors, and lawyers. There are even gigs for writers, who craft blogs for smart brands on the internet.

But How Has the Gig Economy Impacted Background Screening?

Background screening used to be pretty standard for most American employers. When you got a job, depending on the parameters of that job, you might have to go down to your local police station and get a set of fingerprints made. You might have to submit those to a national database and wait weeks to begin your new job.

This was a hassle for employers and employees. When businesses are hiring, it’s generally because there is an immediate need. But background checks have been a standard for a reason; employers don’t want people convicted of embezzlement handling their cash deposits, and so on.

But how do gig companies handle this issue?

Well, up until recently, many haven’t been. Many haven’t felt the need to conduct background checks on an employee–really an independent contractor–who may be gone off to another company in a few days. But these gig-type jobs do bring people into relationships of confidence, they bring people into close proximity. A cab company may screen it’s drivers, but does your ride-sharing app?

Now, there are background screening organizations that have built a new system that can more efficiently and quickly screens these gig-workers. This system combines a bit of the old and a bit of the new, it allows people to continue supplementing their income through these gig-type jobs while also protecting the consumers who use these services and the services themselves.

Consumers feel safer knowing their driver or delivery man isn’t going to take advantage of their position to exploit them, and gig-companies themselves feel safer knowing they’re not likely to be sued for negligent hiring.

In short, background checks for gig economy companies are quickly becoming a whole new standard. If you work in the gig economy or want to learn more about background checks for gig economy … Read the rest

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Top Benefits of Cremation

There’s nothing more painful than losing a loved one. It’s also a burden to the family as they have to start making arrangements of how to dispose of the remains of the deceased. If it has happened to you, then you have to make a decision on which method to use to take care of your loved one’s remains. You can either choose the traditional burial or cremation. Many people today are opting for the latter due to the many benefits it offers. Cremation is easier, cheaper, and more convenient than a traditional burial. Contrary to popular belief, cremation does not go against any religious beliefs as you can still bury the ashes after cremation.

If you’re still not sure whether cremation is the right option for you, here are a few cremation benefits to help you make an informed decision. 

1. Cremation is Cheaper

This is probably the biggest reason why most people are preferring cremation to traditional burial. In these tough economic times, it’s a good idea to go for the cheapest option even when disposing of your loved one remains and cremation is the way to go. When you choose cremation, you save a lot of money that can be used in other more important things. Arranging a funeral service today can cost you up to 6,500 dollars, but cremation can cost you almost half of that amount. When you decide to go the traditional way, you incur a lot of expenses such as buying a casket which can cost you around $2,000. Also, you need to purchase a burial plot, arrange a funeral service, etc. But with cremation, you just pay for the cremation, buy an urn, and if you want, hold a small cremation service.  

2. Portability of the Remains

Another benefit of cremation is that you can take the ashes of a cremated body to anywhere you want. You can take them to a river, ocean, top of a mountain or anywhere you desire. Some people may also choose to keep the urn with the remains in their home. This is great as you will always be near to the remains loved one wherever you move to.

3. Convenience

Cremation is more convenient than traditional burial which requires a lot of arrangements. With cremation, you can do it as soon as your loved passes on and hold a funeral service later whenever you … Read the rest

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