How to Get a Personal Bank Loan

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This presentation covers the most important detail on how to get a personal bank loan. Visit ForeclosureDeals.com and find more information on foreclosure real estate.

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How to Get a Personal Bank Loan

  1. 1. How to Get aPersonal BankLoan ContentsIt is never a good idea to take out a personal Introduction...……………………………1loan just for the sake of it, and always better Personal Bank Loans………………….2to pay with cash as you go along. That said, Making a Balance Sheet….…...…...2borrowing money to pay for something of Writing a Letter…...……..……….…...2permanent value like training is a completelydifferent thing. As is also arranging bridging Choosing the Best Loan……..….…..3finance, for times when you might find yourmortgage or home equity payments difficultto afford.
  2. 2. 2Personal Bank LoansThere are two kinds of personal bank loans. Some areunsecured and charge a higher interest rate. Others arecheaper with softer repayment terms provided, that is, youhave collateral to back them up. Making a Balance Sheet Make up a personal balance sheet. List the things that you owe on the left, and the realistic net value of your assets on the right. If your assets are greater than your liabilities by at least the amount you want to borrow, then you might be good for a loan, with collateral. Writing a LetterWhat’s does that mean? Ask your employer to provide a letter confirming your monthly income, and your terms of employment (permanent staffFor more terms and definitions,check out ForeclosureDeals.com’s versus length of contract) too. Be prepared to back this letterglossary page:http://www.foreclosuredeals.com/G up with pay stubs or invoice statements.lossary.php
  3. 3. 3 Choosing the Best LoanForeclosure Deals12550 Biscayne Blvd, Suite 306Miami, FL 33181 Shop around for the best loan, comparing loan periodsFAX: 1-347-402-6620Contact@foreclosuredeals.com with total loan coast including interest. See how thingsIf it’s not a deal, we won’t list it here! change with and without collateral, and make your choice.Find us on the Web: As a general rule of thumb, go for the cheapest loan, withhttp://www.ForeclosureDeals.com/ the shortest loan period that you can afford. Take time out to complete the application form as neatly and as comprehensively as possible, and remember to attach all the documents the lender requires. A well- prepared application goes a long way towards securing the personal loan you need.

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