Looking For Private Lender
@laughterfromclouds (60)
United States
September 1, 2009 9:34am CST
I'm looking for a private lender to fund some debt that I have. I know there are conventional mortgages, etc. But I need to consolidate some personal debt fast. I've read about private lenders that would rather loan money to some at 6.5% vs. only 1%-2% percent they are getting investing it with a bank. Does anyone know where I can find a list of personal private lenders?
1 person likes this
1 response
@writer44 (58)
• United States
2 Sep 09
Hello,
to avoid scams on the internet, try refinancing your home, if you have one. They will often allow you to incorporate personal finance into the debt, and the interest rate is much lower than a personal loan.
If you don't own a home, check your local phone book and call some insurance agents and financial planners. Quite often, private parties will loan money at a decent rate of interest, and you won't be stuck paying higher rates on short term financing.
I hope this helps.
@laughterfromclouds (60)
• United States
3 Sep 09
Thank you for the advice. We have a home but no equity because we just purchased it a few months ago. Thanks again.
