This was submitted by a man who currently lives with his family in New Mexico and wants to get some more information on the sweat equity program, and wants to find the proper place to fill out an application and get on with the qualification process. This is a good sign, and if his family does qualify, he may have a very good chance of getting approved to be one of the families chosen to take part in the program.
What do you need to know about the sweat equity home construction loan program (SHSEHCLP)? :: I would like to apply for the USDA program but don’t know where to find the application forms to apply with. I have looked everywhere on the USDA web site can’t find them anywhere. (Continued)
So with the USDA (United States Department of Agriculture) home construction program, it’s been coined as the Self-Help Sweat Equity Program as well. A little bit confusing perhaps, but this is how it all works in brief. These USDA 502 sweat equity home loan borrowers.
- applicants must apply via their locally based organization(s)
- 5-12 families are chosen to take part in the program
- families are chosen based a variety of different criteria based on need
- the group of families have to work at least 40 hours a weeks (sweat equity)
- none of the families can move into their new home until ALL homes are built and ready for moving in to
- sweat equity borrowers are classified under the USDA as 502 borrowers
- sweat equity borrowers are also known as self-help borrowers
- most sweat equity borrowers are rural farm working families
- the sweat equity (physical labor) in lieu of a cash down payment
- the sweat equity worked is equivalent to very close to 12-14% of the home value
- close to 60% of the sweat equity is provided by the chosen families in the program
- 40% of the labor is provided by bidded construction companies
- constructions companies are also brought into the program through the local non-profit org.
It’s very interesting to note that the vast majority of the families that take part in the sweat equity home construction loan program never sell their homes after completion. A large part of the reason for this is that they later upgrade areas of the finished homes. They do interior renovations, and on occasion add on to the base structure(s). (Continued)
We are publishing this application protecting the privacy of the applicant as usual. This demonstrates how some people who have really bad credit scores/ratings will still try and get approved for more credit even when they have entered into CH13 personal bankruptcy.
As condition of a Ch13 bankruptcy you cannot apply for more credit until you have done right by your current creditors, and pay them all off first before moving on with growing credit again.
Really bad credit loan application – in chapter 13 personal bankruptcy :: Applicant may not understand that current federal law prohibits consumers under CH13 from seeking further credit. Some consumers feel that if they use the Internet to apply for loans out of state, or clear across the continental United States, that can “get away with it”, and get even more credit racked up on thier name – a big mistake. (Continued)
This applicant has just recently claimed personal bankruptcy and has completely annihilated his credit rating because of it. No problem in the long scheme of life, but a big problem when you are trying to get any kind of credit. He wants a loan between $3000 to $3500 from a title loan company and he wants to use the title of his mint condition motorcycle as collateral security.
Most recently bankrupt people do not try to find some kind of credit this quickly after claiming bankruptcy, especially as in this application, becasue he has not been discharged from his responsibility to his creditors. His creditors were his credit card companies, two department stores, Chevron (gas card), a personal loan for $8000 with BOA (Bank of America), and his car loan on his Lexus SUV. Reason for bankruptcy was medical bills, over spending, and divorce - typical bankruptcy reasons actually.
Unfortunately this very recent bankruptcy has not taught our friend a lesson about personal fiscal financing in any way shape or form. He is still trying to get approved for credit when the ink hasn’t even dried yet on his bankruptcy paperwork. He is now trying to use his motorcyle as leverage with a title loan provider (I use the term “title loan provider” LOOSELY). (Continued)
Filed in Akron
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Tagged akron, bad credit, gold wing, honda, motorcycle, not discharged, ohio, ohio bankruptcy loans, personal bankruptcy, recent bankruptcy, title loan
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This is about a normal as it gets this time of year when applicants are showing up in greater numbers looking for some kind of financial help to due to a shortfall in cash. Around the end of March each year we are seeing these short-term payday or cash advance loans being applied for. This applicant has described her credit as being horrible and terrible. At one time she describes it as being “the worst!”.
This borrower was after an approval for 500 dollars, 1000, or 1500 – whichever comes first and highest. The term on the loan is a very typical one monther. She is living comfortably in her parent’s house while she takes nightschool to be a registered nurse, with an emphasis on dimentia patients. This is the field her mother is in as well, and that is how she got some of her early experience in the field.
However, she is presently working in an art supply store in Cleveland and travels back and forth between the suburb of Parma and the big city of Cleveland. (Continued)
Filed in Cleveland
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Tagged $1500, bad credit, Cleveleand, loan options, ohio, optional, Parma, payday loan, personal loan, quick cash advance, suburbs
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This application for a small business loan in Akron Ohio was from a delivery agent who has as a job with UPS at the time of this writing. He wants to borrow $45K to buy a small sized cargo van, and some equipment to launch his venture.
He apparently knows some clients and customers of UPS that are no longer satisfied with the services on a local base in Strongsville, Akron, Cleveland, and Mentor.
The applicant wants to set up a very small courier company with only one vehicle and himself driving. Of course he can’t compete with the big companies like UPS or Fedex on a global or national basis, but he can certainly make a go of it on a local level between the cities mentioned.
This is a viable small business idea and a model that is often duplicated with success. Transporting small cargo, packages, and envelopes to local businesses is the start and then individuals may become part of the target market. If this indeed takes off it can be very profitable – allot of work for sure though. (Continued)
This young fella is in the military serving in Columbus and needs a quick loan just for the weekend so he can get out to a special occasion where family is getting together for his sister’s wedding. Basically, it’s a $1,500 dollar travelling cash loan that he wants to be able to pay back in 90 days and not responsible for paying it back on his next Air Force paycheck.
He is stationed at the AFB at Rickenbacker. He is an aircraft maintenance apprentice engineer, and still doesn’ t take home much money how at the end of the month.
His problem is that payday loan companies can’t lend money to him because he is in the military. Like the applicant said, the payday loan stores are not legally allowed to lend to United States military personnel.
These laws were created to protect the young servicemen and servicewomen from predatory lenders. It kind of worked but there are a few lenders that squeezed in there who claim to be on the side of military families and personnel. (Continued)
Hi there. I’m a guest here at Ohio Loan Find, and I just want to put in a request for a lawsuit loan in Ohio. I can give you my attorney’s name and law office number(s) so you can confirm the status of my case.
I have been told by my legal team that there is no way I can lose this litigation as the offender was a drunk driver and she is very wealthy. There is already talk of a plea deal and/or settlement out of court.
I was hit by a DUI driver at a busy intersection of Columbus and seriously smashed up my left arm and shoulder. As the plaintiff I have been told by my lawyer(s) that I will get a settlement of $170,000 dollars at the bare minimum amount.
The defense lawyers are making deals already for just less of $150,000 so I am likely to get a settlement of $200,000.
Please consider lending me the 70K this month, as I have outstanding bills that need paying, and I have been employed since the accident.
