Many borrowers are considering peer-to-peer lending after having frustrating experiences with overly-cautious banks. My Bank Tracker explains: “Because banks are now taking a more cautious position, peer-to-peer (P2P) lending networks have been making headway for both borrowers and lenders. For many prospective borrowers who cannot obtain a loan through traditional methods, P2P loans may be the next [...] [...more]
Taking out a mortgage from the bank is becoming more difficult. Instead of waiting out the credit crunch, a growing number of potential homeowners are seeking loans elsewhere: from their family and friends. The Baltimore Sun reports: ” Your loan could prevent a loved one’s foreclosure, bankruptcy or other dire fate. You’d be a hero. Then again, the [...] [...more]
Sure, lenders are offering sub-5% mortgages these days. But, unfortunately, qualifying has become extremely difficult. If you don’t meet the strict requirements set by the banks, you may not be able to take out a loan at any rate. Some of the creative financing methods I’ve discussed in previous posts (FHA loans, seller financing, etc.) are [...] [...more]
