Re: Anyone ever got a Payroll advance?
 

do you have a credit card? you can take it to most any bank and get a cash adavance. i did it once cause i needed money really bad. they charged me like 5$ to get like 60$ fronted. Or you can go to the pawn shop, you can have them give you a loan while they hold soemthing for collateral, you pay a little bit more when you buy it back but they hold it till a certain date before they put it on the floor.

Re: Anyone ever got a Payroll advance?
 

payday loans r very bad!!! all they are is a legal form of loan sharking. interest is through the frigin roof. but if ya have to then you have to.
wait, just ----- your self out. you get laid and paid. and best part is, is there is no payback.... O0

Re: Anyone ever got a Payroll advance?
 

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yes, i know thats what i am saying, but in theory, your not really paying it back. On average a person stays in a home no longer then 3-5 years. (in washington anyway) so your basically getting that money out and not having to borrow it, your getting it because after those three to five years you sell your home and get your money back dood.

I work for a mortgage company.

Re: Anyone ever got a Payroll advance?
 

i am not understanding how that 30K just pops out of no where, its not like you are sellign your house

Re: Anyone ever got a Payroll advance?
 

your selling your house to yourself for more money than you bought it for. and since you dont have to pay out the accual 230k the house is worth you have 30k extra.. but your also loosing all the equity that youve built. but if you have like 15k in credit card debt at 25% or whatever its worth it to refinance and thow your overhead that you made off your house onto it so your only paying 6-8% interest.

Re: Anyone ever got a Payroll advance?
 

so you could take that extra 30K and pay off soem of teh principle on teh original 200K??

Re: Anyone ever got a Payroll advance?
 

so wait, you buy the house, wait a year, its worth X more, and then you re sell it to yourself, and the difference of what you bought it for the first time compare to what you sold it to yourself for, is how much you get paid?

Re: Anyone ever got a Payroll advance?
 

whatevers left from paying off your previous morgage is what you get. and its not realy getting paid its more like buying your house for more than you paid for it because your ass put yourself in to much debt and need a good way out.

Re: Anyone ever got a Payroll advance?
 

do not do it dude. the interest is somewhere around 500%. heres how you do it though. you go there, write them a check for your next payday. then when your next payday comes they cash the check and your done.

now the flip side to it. if you live paycheck to paycheck (which it sounds) come payday, when they take that money back...guess what your doing...taking out another payday loan.

if wont be able to get the maximum they allow either. if you need $500- and there maximum is $500 your screwed. you can prolly get about $350- until you prove yourself.

trust me...(I seem to know a little about this) its not worth it. see if you can find someone to front you the money...or ask your landloard if you can give them a little inconvience money or something. the payday loan is not the thing to do. but like someone else said...you gotta do what you gotta do. it just a trap though.

Re: Anyone ever got a Payroll advance?
 

you cant do it like every year though. usually you can do it as frequently as every two years if you just keep getting financed for a 2 year fixed arm. then after that 2 years refinance again and take your equity.

RAWR - well put!`