Banks do not want to tie up assets on something that would be hard to sell in case of foreclosure. Smaller tracts that can be sold to build on is more appealing. The loan officer will discuss with you the percentage of the value of the land that may be offered. Be prepared to consider around 50 percent of the value of the land. (Example: If the actual value of the land is 60,000, he may offer you 30,000).
Also, be prepared to discuss the loan's purpose. If you are paying off other debts, your debt ratios will be improved.
Based on 44 reviews on Repugen. DISCLAIMERS. NOTICE: This disclosure is being provided to you pursuant to our terms of service with Google®, Inc. It is not required by any federal, state or local law. Our lenders may offer you a loan with an APR between 20 and 300. The APR on a small dollar, short term loan represents the amount of your loan, cost of the loan, term of the loan and repayment amounts and timing.
You provide the lender with a check dated for your next payday. The check will be for the amount youre borrowing, plus additional interest and fees.
They will provide you with a cash loan, and on your next payday they will cash your check to get their money back. The process is easy enough, but is it safe. No, not quite. The problem with these loans is that the interest rates are extremely high, which makes it difficult to pay them back on time.