Frequently Asked Questions

Q. How Does The Lawsuit Loan Program Work?
Answer: It works quite simply,
1. Litigants first apply online and complete our application.
2. We respond with a set of documents you sign and return to 1st Choice Funding and your attorney.
3. When your attorney supplies all of the requested documents our team goes to work securing the lowest cost of return for a Lawsuit Loan to each of our clients.
4. When an investor provides an offer in the terms that benefit you most we present that offer to you.
5. Upon your acceptance a contract is provided to your attorney which both of you sign. This contract in no way obligates your attorney for a return of the money you receive, it just says he guarantees that if you win, he will repay the investor with interest out of your proceeds, that is called a "lien" on your case.
6. After receiving a signed contract money is sent immediately.

Q. How Long Does The Process Take?
Answer: Our side of a funding determination takes generally a few days depending though on the complexity if the case. Money is released to you within 24 hours of receiving a signed contract. However the time period is really determined more by your attorney than anyone else. When we receive your documents funding takes only days, however depending on the cooperation level of your attorney, will determine how long the process takes.


Life Insurance Cash Out Program

Q. What is a "Life Settlement?
Answer: A life settlement provides life insurance policy holders with an option when premiums are too costly or policy's are no longer needed. It's for policy holders who are facing a serious illness at any age or who are age 70 and above with any type of health. A life settlement is an awesome financial tool because instead of selling a life policy to an insurance company for pennies of the dollar, or letting a policy lapse, 1st Choice Funding's financial solution provides much more. Our investment capital allows you today to receive substantial cash for any current life policy no matter the policy type. Purchase amounts are up to 4 times more than any insurance company will ever offer if you have a cash back policy type.

The State A Rate Program

Q. What Is State A Rate
Answer: State A Rate is a revolutionary program that lets borrowers control interest rates despite traditional lender interest rates. State A Rate is the most versatile tool ever developed because State A Rate works with any loan for any amount, secured or unsecured, on any residential or commercial loan current or future loan.

Q. Why Do I Need To Use State A Rate, Can't I Do This Program Myself?
Answer: You can try to do what we offer yourself. However if replicating the State A Rate Program were that simple why haven't borrowers done so before now? The answer is really a multi-faceted answer. Think for a moment about seat belts. It's no secret seat belts save lives. Yet how many drivers used seat belts voluntarily before they became mandatory? State A Rate is a Financial vehicle with all the finest safety features to help you achieve your financial goals. State A rate let's you see the big financial picture, the one lenders and monthly payments don't readily reveal. State A Rate is a patented pending program because never in US lending history has a program been developed to match what State A Rate's comprehensive package achieves.

Q. Am I obligated to continue in the State A Rate Program?
Answer: There's absolutely no obligation and you may cancel program participation at any time.

Q. What are the risks of the program?
Answer: There are no risks what so ever.

Q. Where does my money go and is it safe?
Answer: Mortgage remittances are covered under F.D.I.C. Regulation E cash management department of Regional Clearing Banks.

Q. What is Regulation E?
Answer: A regulatory body monitored by the Federal Reserve System to protect consumers from unauthorized account debiting. This monitoring body insures lenders receive payments promptly.

Q. If I don't plan on living in my house for more than 8 years, why would I want to convert to the State A Rate Program?
Answer: As a homeowner you need to capitalize on 3 revenue streams of income when selling your home.
1. Inflationary increases- property tomorrow is worth more than today. Average increase is 2%. Live in your home 8 years and you have a 16% increase in value. However, count real estate fees of 7% and the interest you pay and you will pay to get out of your mortgage with a conventional payment schedule.
2. Increased equity build up vs. conventional payment schedules- Conventional lender payments mean lenders capitalize on 100% of the interest you pay. That means you pay interest 1st then what remains is applied to the principle. You build no equity from principle reduction.
3. Only with State A Rate do you obtain another income stream as your Certificate of Deposit returns to you at notes end. These three income streams build greater net worth, and increase even short term net worth.

Q. Will my current lender approve of this program?
Answer: Absolutely because lenders receive principal quicker. With the time value of money a dollar today is worth more than it will be tomorrow.

What About 1st Choice Funding's Bi-Weekly Mortgages?

Q. Why can't I just make Bi-weekly payments to my current lender?
Answer: Lenders for the most part will not accept Bi-Weekly payments unless you cash in your old loan and take out a brand new Bi-Weekly loan. That would mean you would have to have an appraisal, pay points and re-qualify.

Q. Why can't I just make an extra payment once a year to my mortgage company?
Answer: The Wall Street Journal and Business Week reported that there is a 1 in 3 chance of an error by lenders in property crediting extra payments to principal. To prevent this from happening, the Service Bureau performs lifetime mortgage audits for FREE, something that would be very costly or prohibitive if the homeowners tried to do this themselves.

Q. What is the risk?
Answer: There is no risk.

Q. Where does my money go and is it safe?
Answer: Mortgage remittances are covered under F.D.I.C. and Regulation E in the cash management department of Regional Clearing Banks.

Q. What is Regulation E?
Answer: A regulatory body monitored by the Federal Reserve System to protect the consumer from any unauthorized debits.

Q. I don't plan on living in my house for 19 years, so why would I want to convert to a Bi-Weekly payment schedule?
Answer: Your equity will build up faster, allowing you to buy a bigger house or pay less years on your next house.

Q. Will my current lender approve of this method of payment?
Answer: Absolutely. They will approve it because they receive the principal back quicker. With the time value of money, a dollar is worth more today than it will be tomorrow.

Q. Can I change back to my ordinary payment mode, anytime I want to?
Answer: Yes.

Q. Who Is 1st Choice Funding?
Answer: 1st Choice Funding is a Division of 1st Choice Corporation who was founded in 1985. Since this time, our company's services merged from working for corporate giants Sunbeam & La-Z-Boy assisting them to save millions of dollars during a decade of service, to developing money saving tools for every corporation or citizen of this country who has debt by developing the Patent Pending State A Rate Program. By reviewing our company website note our specialty services and innovative financial tools that assist borrowers achieve more for their hard earned money by way of interest rate control. Thus, when our horizons broadened to assist all borrowers save incredible resources, our name changed to 1st Choice Corporation with our interest reduction division; 1st Choice Funding.