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Private Lenders – Angels in Disguise?

Elvis Elvis

Why might you want to use the services of Private Lenders?

Well, sometimes people find themselves in a position where they own their current home, have already got their lot, and are approved for a conventional mortgage … but – they don’t qualify for both mortgages at the same time. They can’t move into their new home because it’s not built yet and they can’t mortgage their existing home higher than it is with the bank and the bank won’t place a mortgage on a home that is not yet built. However, they have substantial equity and they have the lot. What to do?

This is an ideal time to consider the services of a private lender to obtain a short-term loan or interim financing. Some advertise on their own. Some don’t even advertise, and others will work through the services of a mortgage broker.

Although this was an example, there can be other times when you may want to consider what can sometimes be called “Guardian Angel” financing. As in everything, shop your rates, be sure of your terms and that you are comfortable with the company AND their terms.

Private Lenders   Angels in Disguise?

Good hunting and good luck!

PS – as we find great Guardian Angel financiers we’ll post the info here for you!