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Steps For Putting Up Mortgage On Bail

Posted by on Nov 4, 2014 in Blog | 0 comments

Bail is an amount of money set by the court and judge based on the arrested person’s reputation, flight risk and criminal record. If it was a misdemeanor and they don’t have an extensive criminal history, it is likely bail will be approved. In some cases, bail is set at a higher amount than you have money for, thus requiring another way to finance the bail. For some, bail is thousands of dollars. In these cases, using mortgage or property you own might be your only option.

How and Why to Use Mortgage

Most likely, you aren’t using a mortgage for getting the cash, but as collateral for the bonding company. While the company is going to ask for a percentage of the bond amount, they may also want collateral as well. It helps when the bond is set at a higher amount, as putting up your property reduces their risk of the lost money if the person arrested disappears. The mortgage can be for your house, business property you own, residential property, or even the insurance policies for your home or business.

Property Documentation

Once you have spoken to a bonding company and decided to put up your mortgage or property as collateral, you will need to find the proper documentation. You should have a document that shows you are indeed the owner of this property. You will also need to fill out a form called Declaration of Trust of Real Estate to Secure Performance of a Bail Bond. The bonding company should have them on hand, otherwise you can find them online and fill them out. This document will ask for the address of the property, value and any liens you currently have on the property.

Informing the Bail Bondsman

Once you have your documentation and the proper form filled out, pay the bail amount fee to the bail bondsman. While you are using your mortgage for bail as collateral, this is not usually the only requirement of the bonding company. They also need a percentage of the original bail amount as the fee for their services. A payment arrangement is also possible. Once you let them know you are using property as collateral, they are more likely to approve the bonding contract.

Consequences of Using Property

One thing you need to understand about using your home or property as collateral is that the bonding company can seize your property if anything goes wrong. Make sure this is what you intend to do, as you will owe the bond money if your loved one goes missing. If they do not appear for their court date, the court is not going to reimburse the bail amount to the bonding agent, which means you either have to pay it in full, or you lose your house.

Collateral is not always required, but if it is, make sure you think about it before jumping into this decision. Talk to a bail bond agent like Nickel Bail Bonds for more information about this type of payment.

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How A Payday Loan And Selling Your Car Can Improve Your Quality Of Life

Posted by on Nov 3, 2014 in Blog, Finance & Money | 0 comments

During the current economic slump, many people are strapped for cash and struggling to make ends meet. Instead of allowing your heart rate to jump by 40 beats per minute every time you look at your checkbook or your PayPal account, take a look at the tips below to find out how selling your car can help you save money and why you should consider a payday loan.

Sell Your Car

Yes, it may sound crazy, but selling your car and transporting yourself to work may be the ticket to spending less money than you thought possible. The average American spent approximately $4,000 on gasoline in the year of 2011. That figure may increase as gas prices continue to rise. If you do not need to pay for your transportation, you will be able to put that extra money aside for other expenses you may have.

Cars have a bad habit of needing occasional repairs and tune-ups. If you delete the car from your life, you can also avoid auto mechanic expenses and unpleasant surprises from the car with the dead battery the day you woke up late.

Not everyone will be able to scrap their car, but those who do will find the added health benefits of being forced to transport themselves to work more than worth the extra time travel takes. Not only will you have a toned and strong body, but you will also avoid the need to spend money for gym workouts. Cha-ching!

When Times Are Dark

Even with your best efforts, you may still find yourself unable to ride the waves of your personal financial storm. You may have an unexpected illness or injury in your family that required hospitalization, rehab and exorbitant doctors’ bills. You may find yourself in dire straits to provide for your family’s needs for the next week. If you are in this situation, consider a payday loan as a short-term fix to help you get back on your feet.

What Are Payday Loans?

Payday loans are a certain amount of money that you can request from a lender to cover any needed expenses while you wait for your paycheck to arrive. They are an ideal option for those who find themselves in a financial bind and have no other resource to fall back on. While a loan of any sort does entail interest fees, payday loans can help calm the waves of your personal financial crisis until you can steer your ship to safe harbor once again. Visit a site like http://www.money4youpaydayloans.com for more information.

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