Private Mortages...

MMM_31 · #1 (**permalink**) 06-20-2009, 12:09 AM

I heard a radio show about "people" who loan money to homeowners...at better rates than you can get from a bank or mortgage broker. If this is true, how does one go about finding these lenders. I did internet searches, but found nothin***

grow14me2 · #2 (**permalink**) 07-08-2009, 02:09 PM

I think they mean if you know someone "overly wealthy" that the internet now has enough printable documents that friend to friend borrowing is now bigger than ever.

sapphirecapital · #3 (**permalink**) 07-09-2009, 03:12 AM

there are private lenders, that they would be cheaper is mostly a myth if it is not for a special occasion a friend or family member, generally a private lender will look to get a better return than buying your note from a bank, in addition big private lenders usually have mortgage brokers bringing them new opportunities

Salty Dog · #4 (**permalink**) 09-15-2009, 12:51 PM

" better rates" maybe

check the points

chances are it isn't going to be cheap. Much less cheaper

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