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The first earned-wage access service was patented in 2010 by FlexWage. The fintech category promises a credit-free alternative to payday loans and has grown over the past 13 years as players like 11-year-old PayActiv and 8-year-old DailyPay have launched products. The aim is to provide cash-strapped workers with immediate access to their pay to cover essential expenses.

A "powerful" storm lashed the mid-Atlantic coast Monday with heavy rain and thunderstorms, leaving 59 million people from Virginia to Maine under flood alerts, almost 700,000 homes and businesses without power, and holiday travelers scrambling because of flight delays and cancellations.

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The same storm system battered Florida and the Carolinas with strong winds and torrential rain over the weekend; Charleston set a daily record Sunday with 3.86 inches of rainfall, and Gainesville, Florida reported more than 7 inches. South Carolina also set a record for greatest storm surge from a nontropical system with a high tide at almost 10 feet.

The threat of heavy rain will end Tuesday as the system moves further into Canada by Monday evening.

Lake-effect snow downwind of the Great Lakes and upslope snow over parts of the northern and the central Appalachians are also in the forecast Monday through Wednesday, the weather service said.

A cash-out refinance lets a property owner to use their home mortgage to get additional cash. This mortgage refinancing option replaces an existing mortgage with a new, larger mortgage. The difference between the old and new mortgage amount is paid to the borrower as cash.

The amount you can receive from a cash-out refinance is determined by several factors. The most common determinants are your credit score, the property's LTV ratio (loan-to-value), and your bank's lending standards.

Triple AAA tempted me before. I considered doing a cash-out refinance for one of my rental properties at a mortgage rate of 3.375%. If you're in a oppressively high federal income tax bracket, you might consider doing a cash-out refinance. It may lower your income tax bill.

I'm pretty sure I'll be in a lower income tax bracket during retirement (as will you most likely). Thus, I figure why not extract cash out of a rental property. This can increase my interest expense to shield my rental income. With 5-year rental property money at only 3.375%, it would be foolish not to at least consider the option.

The rental market was very strong when I was considering doing a cash-out refinance. As a result, I was able to increase my asking rent price by 12% last month from a year ago. My realtor friends implored me to raise the rent by another couple hundred bucks. But, I didn't have the heart. I had already put the price out there on Craigslist, and I found a potentially ideal tenant.

By refinancing, the cash flow for the rental property increased by another 23% for a total increase of 35%. Yet, despite this increased cash-flow, I thought long and hard whether increasing my debt to then negate my cash flow increase was the right financial decision in this low interest rate environment.

Doing a cash-out refinance is definitely something to consider if you have a hefty amount of equity in your property. Today, this is called your tappable equity, a new term that has started becoming more popular.

If you have no good plans for the money that will return at least the cost of your mortgage, then you probably shouldn't cash-out. CD and savings rates are still much lower than your mortgage rates, so you will be losing money every month you don't put it to good use.

Nothing is a guaranteed return, so think long and hard before plopping that cash down on something that sounds so good. That said, Treasury bonds are yielding 5% after the pandemic, which is a great risk-free return.

If you think the markets are going to tank 90%, then by all means cash out! You don't want to see your equity disappear. If you can legally cash out and have free cash in your bank account, then please do so before it disappears.

Some people go crazy irresponsible when they have a sudden influx of cash. If you are making say $100,000 a year with $50,000 in savings, could you handle an extra $200,000 in the bank after a cash-out refinance? Would you not be tempted to go on some fancy vacation or buy a car you've always wanted?

If so, then you shouldn't do a cash-out refi since you wouldn't have spent that money if you didn't get the injection. I have a weakness for nice vacations and cars, even though I haven't bought one in 4 years and drive a beater.

If you already have a high amount of cash-flow or have a a healthy year-end bonus every year and don't plan to get fired, then perhaps you really shouldn't do a cash-out refinance. For example, let's say you want to cash-out $100,000, but you can save $100,000 every year. If this is the case, why bother?

My banker said I could do a cash-out refinance if I wanted to, but then said my mortgage would have to be re-underwritten, and the rate would go up. Funny how they didn't tell me this before my appraisal. I was thinking to myself if I borrow more money, I could get a lower rate! Silly me. It's quite the opposite. This higher rate was the straw that broke the camels back as he tried a little bait and switch. I'm a rate seeker.

The more desperate you are for liquidity, the more it makes sense to do a cash-out refinance. Your house is likely your largest asset, which isn't doing you much good except for providing you a hopefully rent-free place to live. Hence, if you can extra cash from your house, particularly if you are house rich cash poor, then a cash-out refinance may make sense.

If you are at the point where you have to sell precious belongings, priceless memorabilia, and liquidating your grandchildren's education funds, then doing a cash-out refinance is a much better option.

Cash-out refinancing is just accounting. You either have cash in the bank or equity in the house. I would actually much rather have cash in hand to do what I want (invest, spend, remodel, travel) than have it stuck in a house which might burn down.

Housing will continue to get better over the next 5-10 years. Just make sure that if you do a cash-out refinance that you spend it wisely, preferably on living a better life and investing for more security.

In 2015, I refinanced to a 2.75%, fixed rate 15 year mortgage with a 120K cashout, mainly to invest the money, as I had already refinanced in 2013 at 3.25%. I put all of it in my Vanguard PAS portfolio. With dividends reinvested, I already made over 20K (17%) since then, with a lower rate to boot. the cost was around 2.5K. it was a no brainer.

Many years ago, I refinanced specifically to take cash to buy another property. I used my equity to build a larger portfolio. Was it wise? Yes! Should everyone do it? No, because of some of the pitfalls you mentioned. Not everyone is disciplined or has a plan. The key word is plan. I planned my expansion and had the discipline to not only do some of these things, but monitor the progress and results. I set up reserves to take care of surprises and I had a history to reflect on to know my risks. Bottom line it worked for me!

Rain City Capital offers financing solutions to real estate investors in the state of Washington. They specialize in short-term loans for residential real estate and can close loans very quickly. Their rates start at just 12% with two origination points and they offer terms from 5 months to 2 years.

Alexandra takes a loan from Rain City Capital in order to rehab a townhouse to flip in Portland, OR. The price of the property is $220,000. The terms of the note include a 65% loan to value (LTV), so she must bring 35% of the price as cash at closing, making the principle note amount $143,000. The loan is interest-only, paid monthly, and is for 18 months at 13% interest with 4 origination points paid at closing.

Alexandra will have to bring $77,000 at the closing (35% on the 65% loan-to-value), plus she will need to pay the $5,720 origination fee. Once the loan is closed and Alexandra takes the project, she will have to begin making monthly payments of $1,549 to the lender ($143,000 principle x 13% / 12 months). Assuming Alexandra sells the rehabed project for $297,000 at the end of the 18 month term, her gross profit (not accounting for rehab expenses) would be $43,395. This is computed by taking the purchase price ($297,000) and subtracting the original note amount ($143,000), the origination cost ($5,720), the funds she brought to closing ($77,000), and the total interest payments ($27,885).

BofA Securities analyst Wamsi Mohan also expects that the company will boost its dividend by 5%, to 24 cents a share, though he expects a slightly smaller increase of $80 billion to the buyback authorization. But he questions whether Apple is going far enough with its efforts to unload its net-cash position.

In addition to lobbyists, foreign donors have also been giving more to the foundation in recent years. Chinese national Bin Zhang, who made a $200,000 gift to the charity following a cash-for-access Liberal fundraiser with prime minister Justin Trudeau, has been the focus of heated debate in the House of Commons. The gift, which was first reported by the Globe and Mail, counted as a domestic donation, since it was made by a company registered in Canada.

In most instances, you can pay for services using cash, checks or major credit cards. To help us provide the best possible and affordable dental implants, we may require a deposit prior to some procedures being performed. We also ask that you pay for treatment on the day of your appointment.

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