Buying a First Home
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Buying a First Home

After 10 years of marriage, I’m still enjoying living in the first home I moved into with my husband. Buying a first home can be one of the most exciting events in a person’s life. Before making this important expenditure, people need to first sit down and determine how they will successfully finance it. After all, a home will likely be the most expensive purchase you make in your life. Talk to a loan officer and determine how much money you can reasonably borrow. Then, decide how much money you want to use as a down payment. You also must decide how many years you will finance your home for. On this blog, you will learn about the process of buying a first home with a loan.


Buying a First Home

Two Things You Should Never Attempt To Do When You Need A Title Loan

Irma Bates

Getting a title loan on your vehicle can be a real lifesaver in some situations. However, you should never attempt to get a title loan without knowing first that you will be able to pay it back. Here are a few other things you should never attempt to do when you need a title loan, and what the repercussions are if you do attempt either of the following.

Use Duplicate Titles to Get More Than One Title Loan

Surprisingly, some people have attempted to do this. They get a duplicate title and then use the original and the duplicate to get two title loans from two different lending sources. While this may seem like a capital idea at the time, it is actually considered fraud, and if the second lender follows regulations, he or she will call the DMV about the duplicate title before lending you any money.

While you can certainly use a duplicate title in place of an original when the original title is lost, the lender may still phone the DMV and/or look up your vehicle's registration in the online registration site to see if you already have a title loan lien against your car. Your best bet? If you need more money than the total sum the title loan lender is willing to give, you might want to look at installment loans unless you want to face criminal charges for attempted fraud.

Pass a Friend's or Family Member's Car off as Your Own

Everyone who takes out a title loan on their vehicles must show proof of ownership. Trying to pass yourself off as your close friend or even as your identical twin is not going to pass muster with most title loan lenders. You have to show personal ID/driver's license with your picture on it, as well as the clean and clear title with your name printed clearly on it. The ID you use also has to match the title, and any mismatches or anything that raises doubt to your truthfulness regarding the ownership of the vehicle in question and the lender may void any transactions with you. He/she may also choose to ban you from his/her business in the future, preventing you from ever getting a loan from that particular office/location.

On the other hand, if your friend or family member takes out a loan and gives you the money, that is acceptable. It is also acceptable to sell you the vehicle, transfer the registration, and then you can get a title loan on it. If you inherit the vehicle, be sure to transfer the registration first because even with a copy of your parent's will, the lender may choose to take negative action against you.