PHILADELPHIA, Dec. 16, 2013 /PRNewswire-iReach/ -- InstantLoansProvider.com is a direct lender institution that guarantees quick approval of small personal loans through an internet process that greatly enahnces the customer experience. Small personal loans can can be a viable solution to the problem of upside down mortgages that many people face today as a result of the near-collapse of the housing market. Upside down mortgages result when the value of the asset used to secure a loan (the home, in this case) is less than the outstanding balance on the loan. What are people in this situation to do? Many are turning for solutions to small personal loans provided by direct lenders like InstantLoansProvider.com. If you wish to explore the services of the company, apply here.
The service features a fast and easy application process, a solid network of reputable lenders, and state-of-the-art technology that enables users including those in the UK and Canada to locate the best loans for their needs. How to avail of these loans immediately? After providing the basic information needed, borrowers are instantly provided multiple offers and can choose the rates and terms that are most agreeable to them. More importantly, now borrowers with upside down mortgages can get small personal loans in less than an hour.
It is standard operating procedure for banks to require that loans be backed with collateral as a guarantee against defaults on the loan. Should defaults actually happen, they can then repossess the property used as collateral and sell it to pay off the balance on the loan. An unsecured personal loan is one that does not require collateral. It does not require the borrower to provided a home, car, or something else of significant value as security.
There are two types of unsecured personal loans. The first type qualifies the borrower based on their credit scores, and these usually need to be good or excellent. The other type is based on the paycheck or an active bank account and are also called payday loans. Applicants with upside down mortgages usually choose the second option because many of them have bad credit where the chances of being approved for a loan on the basis of credit score only are lower. They want small payday loans for an immediate need and are willing to pay off the loan quickly at a higher interest rate.
The primary lenders for good and high credit unsecured personal loans are local credit unions. Some of the main lenders for the small personal loans are direct lenders that can be accessed online through website services such as InstantLoansProvider.com, where borrowers are matched with direct lenders. These sites give potential borrowers access to dozens of small personal loans direct lenders who are willing to fund unsecured personal loans.
A spokesperson for InstantLoansProvider.com revealed that, "Banks ignore people with upside down mortgages who need to borrow money for emergencies or other time-sensitive situations. What banks don't realize is that these people were, a few years back, their best customers with spotless credit records. We offer these borrowers guaranteed loan approval if they need short-term cash."
Although the housing market is on its way to recovery, it is highly unlikely that homeowners will see the value of their homes return to pre-housing crisis levels soon. This means sites like InstantLoansProvider.com will continue to find an expanding market for their loan matching services. If you've been hit hard by the housing crisis and would like a quick solution to your cash problems, click here to start your free application.
Media Contact: Toby Lyons, InstantLoansProvider.com, +44900237221, email@example.com
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