Five Tips for Getting Quick Cash for Fixing Storm Damage
When a storm hits and leaves your home with damage, it's possible that your homeowners or renter's insurance will not cover the damage. Some companies have fine print in the policy that eliminates coverage for what the insurance company considers an "act of God." When this happens, you may be left to pay for necessary repairs, such as a roof replacement or broken window, out of your own pocket. Here are five tips for getting quick cash to pay for storm damage.
Call Your Insurance Agent
Before you rule out the chance of having any insurance coverage, call your insurance agent. The worst that can happen is that you'll be turned down. Your agent may, however, be able to get some of the repairs, even if it is only part of them, covered by the insurer.
Sell Unwanted Items
When you need cash fast, holding a yard sale can help. Things that have been gathering in your closets or basement may be highly desired by someone else. Even if you only raise a couple hundred, it's a start. You can cover the rest with cash loans.
Check With Your Church
Church loans are a newer means of getting cash, but it's a possibility. Churches work with local financial institutions to get their parishioners low-interest cash loans by offering money collected by the church as collateral. You borrow the cash you need at an extremely low-interest rate, and then make the payments as promised.
Talk to FEMA
After a major storm, FEMA may offer a loan that you can use to repair storm damage. As FEMA will only offer loans of up to 25 percent of the operating budget for your state, these loans can be difficult to obtain. You may find the money you qualify for doesn't cover all of the money you need for repairs. It never hurts to ask about a FEMA loan, before you take out a cash loan.
Compare Cash Loans
When you've exhausted the alternatives, there are ways to get cash loans that suit your budget. Whether you just need a payday loan to fill in a gap until your next paycheck arrives or you want an installment loan with a competitive interest rate, it's easier than ever to get a loan that doesn't strain your budget.
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