The Quickest & Surefire Way to Receive a Loan is a 100% RISK Free Cosigner Loan in Detroit, Michigan For Sale
The Fastest Surefire Way to Get a Loan is with a 100% Risk FREE Co-Signer Loan
Set it Up So You Don't Make Any Payments For One Year
I am sure that you are aware that if you have {a friend| family member|someone| with an
excellent credit, job history, and high income to co-sign for you,
you can basically get almost any loan in hours.
What makes this possible is that the co-signer is on the loan agreement,
and therefore if you dont pay the loan back or are late on the payments,
they are responsible, it will go against their file and credit history.
Here is the deal. There is a way you can get all the benefits of a great qualifying
co-signer without any of the risk.
This technique is 100% risk free for the cosigner.
You see a co-signer only has to stay on the account for 6-12
months as long as the payment history has been excellent.
This makes you look great with the lender and gives them trust in you to take the other
person's name off the loan and rely solely on your paying the money back.
HOW TO MAKE IT RISK FREE
Whether this is a auto loan, home loan, loan to pay off debts,
business, college,, there is one simple factor that will make this loan 100% risk free for the LENDER and Co-signer.
1. A Credit Life Insurance Policy that covers the payments in case of you death,disability, or unemployment.
2. Keep an upfront payment on the loan for the entire duration of the time that the cosigner is on the account.
For Example: If the cosigner has to be on the account or 1 full year (12 months) with
perfect payment history and the monthly payments are $100, you set up an
Escrow account with $1,200 in which the account automatically deducts the $100 per
month from escrow to make the payment.
This is called a Compensating Balance in Escrow.
This is a fool proof method that works 100% of the time.
This lowers interests rates, and allows longer payback periods.
The shortest amount of time that the co-signer will have to stay on the account, the better.
Using A Compensating Balance To Get A Loan To be an effective borrower, you need to
know how to use this information to secure the funds you need.
THE COMPENSATING BALANCE LOAN
This is the amount of money the borrower keeps in an escrow account with the lender as a condition for getting the loan.
The lender takes the money from the escrow account to guarantee the payments.
A SIMPLE EXAMPLE
COMPENSATING BALANCES ARE TYPICALLY 10% of the amount of the loan.
A SIMPLE EXAMPLE OF THIS METHOD would be where a lender agrees to make a
$100,000 loan as long as the borrower keeps a deposit balance of at least $10,000 (10%
of the loan) in an Escrow account.
The $10,000 is called the compensating balance.
HOW IT WORKS
Have the compensating balance deducted from the total principal of a compensating
balance loan.
For example, on a $25,000 loan at 8 percent interest for one year, the interest of $2,000
(8% of the loan) and the compensating balance amount of $2,500 (10%) will be with
held from the $25,000 principal.
Thus, the total amount the borrower receives is $20,500.
GETTING A COMPENSATING BALANCE LOAN
The larger the compensating balance in the borrower's account, the easier it is to
get a compensating balance loan.
To set up a compensating balance loan, an escrow account is opened.
Lenders prefer to offer a Line of Credit instead of a regular term loan.
Borrowers should take the Line of Credit, as it can be more useful than a regular loan.
Finding a Co-Signer
Obviously the first place to search for a co-signer would be a close family member or
friend that trusts you.
Someone that knows that you would never cause them any harm
and that will believe you when you say that you have a system that guarantees them a
risk free way to help you out.
If you do not have someone in your life that fits this description, then you will need a cosigner service.
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