Does anyone know where to get a large personal loan with a decent interest rate without using a bank?
Cj R asked:
Im looking for a $50,000 loan to pay off a 2nd mortgage with a high interest rate (13%). With the economy the way it is, its almost impossible to use a bank. Ive checked with several and had no luck. Iv’e heard of people writing contracts and conducting loans that way. Any suggestions would help. Thanks!
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Im looking for a $50,000 loan to pay off a 2nd mortgage with a high interest rate (13%). With the economy the way it is, its almost impossible to use a bank. Ive checked with several and had no luck. Iv’e heard of people writing contracts and conducting loans that way. Any suggestions would help. Thanks!
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Tags: Economy, Personal Loan, Writing Contracts
July 23rd, 2009 at 11:10 am
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Could you take out a third mortgage with an adjustable rate? Because interest rates at the Fed are only 1% now, so it would be a good deal.
July 26th, 2009 at 12:24 pm
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You are going to need impeccable credit and a large equity to refinance this loan in today’s climate.
Your best source is someone who loves you. Otherwise, you are probably stuck with this loan.
July 28th, 2009 at 8:25 am
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Why not combine the first and second mortgage into one mortgage? Unless you have over-borrowed and owe more than the value of the house.