Online Loan Service MoneyNowUSA.com Adds Sub-Prime Personal Loans to Assist with Mortgage Payments
Money Now USA announces the addition of sub-prime personal loans to help borrowers catch up on mortgage payments
Scottsdale, AZ (PRWEB) November 28, 2007 -- MoneyNowUSA.com, a Scottsdale-based online loan service, has announced the addition of sub-prime personal loans to their portfolio of financial services. This new sub-prime loan product will allow borrowers to take out an unsecured loan of up to $15,000, enabling them to get caught up on bills or mortgage payments. Money Now USA's flexible underwriting allows consumers with bad credit to get cash even if they have less than perfect credit. Homeowners with credit scores as low as 530 can take out a sub-prime loan, pre-qualifying over 91% of homeowners.
These cash loans are designed to be repaid in four years, with rates from 5% to 20% APR. MoneyNowUSA.com offers these loans in all 50 states; borrowers can apply online without charge. The application can be completed online in no more than 5 minutes by visiting http://www.moneynowusa.com.
With the current housing market in distress, many consumers are facing foreclosure and trying to catch up with their adjustable rate mortgages. Consequently, a record number of mortgages in the U.S have fallen behind. Money Now USA's new advance cash loan program may be able to help these borrowers avoid foreclosure.
In addition, renters and those who wish to consolidate high-interest credit cards or other bills can take advantage of these new loans with no collateral. This product provides borrowers another way to pay off credit cards, or avoid foreclosure, without the use of their home for collateral.
For most sub-prime borrowers, it is becoming more difficult and time-consuming to refinance their home loans. This kind of signature loan can function as a great bridge - allowing borrowers to make a deal with their current mortgage company or providing them time to refinance.
Bad credit is not an issue with these unsecured personal loans; all borrowers need only have a steady income and a FICO credit score of over 530 if they own their home, and over 580 if they rent. APR for this new loan product ranges between 5% and 20% depending on credit score and other underwriting factors. Consumers can use these beneficial loans to make a fresh start by restructuring their debt in a positive way.
For more information, contact Chris K. Kay at 877-263-1690 ext. 801.
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