In today's economy, more consumers are finding it difficult to get a bank loan especially when it is most vital. Purchasing a first home or office may seem way out of reach of many individuals. A lot of people end up in a position of mistrusting most traditional financial institutions following either a bad experience in having a loan with them or even being rejected by a number of banks when they needed a loan. Private firms that can provide a residential or commercial real estate loan, can help in these difficult, and some times distressing situations.
Why are Borrowers Embracing Private Mortgage Lenders?
It's an undeniable fact that it's very hard to conceive of the banking industry's reputation ever dropping lower than it has already. The serious over-selling of payment protection, coupled with the bailouts and the recent market meltdown have cheated consumers by the millions.
It is also a fact that 9/10 people continue to use banks, but many are interested in leaving their banks in favor of dealing instead with private mortgage lenders and other providers of financial products that are far more ethical in their business practices.
What is Social Lending?
One of those options is p2p lending, aka social lending, whose concept is relatively easy to understand. An online lending website attracts investors who want to loan cash to individual customers and businesses who, of course, need the money. Since credit issued by more conventional lenders is difficult to acquire, peer to peer lending is growing. This past May, financial sources allude to the fact that social lending figures have reached the $1,000,000,000.00 billion mark, and that is incredible since the P2P lending industry itself was only started in 2006. Often, consumers are finding it much easier to qualify for peer to peer lending than for standard loans.
So what is a commercial mortgage lender?
Basically, it is a firm that can offer a commercial real estate loan to consumers who are looking for financing for properties that are used for commercial purposes. They often will have contacts within the market and know where to search for the appropriate financing and terms that will suit the client and help the client reach their short and long term goals for the property. They are usually harder to find than traditional lenders and not inexpensive, but they can be found and are happy to help borrowers in taking the correct steps in getting the right financing.
Why are Borrowers Embracing Private Mortgage Lenders?
It's an undeniable fact that it's very hard to conceive of the banking industry's reputation ever dropping lower than it has already. The serious over-selling of payment protection, coupled with the bailouts and the recent market meltdown have cheated consumers by the millions.
It is also a fact that 9/10 people continue to use banks, but many are interested in leaving their banks in favor of dealing instead with private mortgage lenders and other providers of financial products that are far more ethical in their business practices.
What is Social Lending?
One of those options is p2p lending, aka social lending, whose concept is relatively easy to understand. An online lending website attracts investors who want to loan cash to individual customers and businesses who, of course, need the money. Since credit issued by more conventional lenders is difficult to acquire, peer to peer lending is growing. This past May, financial sources allude to the fact that social lending figures have reached the $1,000,000,000.00 billion mark, and that is incredible since the P2P lending industry itself was only started in 2006. Often, consumers are finding it much easier to qualify for peer to peer lending than for standard loans.
So what is a commercial mortgage lender?
Basically, it is a firm that can offer a commercial real estate loan to consumers who are looking for financing for properties that are used for commercial purposes. They often will have contacts within the market and know where to search for the appropriate financing and terms that will suit the client and help the client reach their short and long term goals for the property. They are usually harder to find than traditional lenders and not inexpensive, but they can be found and are happy to help borrowers in taking the correct steps in getting the right financing.
About the Author:
Don't look for the keywords "investment property mortgage" or "Commercial Loan" in a search engine. Go straight to Blackhawk Investments online at blackhawkcorp.com.
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