In the current global market, more people are finding it difficult to get a loan particularly when it's most crucial. Purchasing a first home or office might appear way out of reach of a lot of individuals. Many folks end up in a position of mistrusting most traditional financial institutions after a negative experience in having a loan with them or perhaps after being rejected by several banks when they applied for 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 Turning to Private Mortgage Lenders?
It is a well known fact that it's very hard to conceive of the banking industry's reputation ever sinking any lower than it already has. The major over-selling of payment protection, as well as all the bailouts and the recent market meltdown have cheated consumers by the millions.
Unfortunately 90% of consumers still use banks, but many are interested in abandoning their banks in favor of dealing instead with private mortgage lenders and other providers of financial products that are far more ethical in the way they do business.
What exactly is Social Lending?
One of those options is p2p lending, known as social lending, whose concept is relatively easy to understand. An online lending website draws in investors wishing to lend cash to individuals and businesses who, obviously, need the money. Since credit issued by more traditional lenders is difficult to acquire, peer to peer lending is becoming a very popular option. This past May, industry sources have reported that social lending figures have reached the $1,000,000,000.00 billion mark, and that's astonishing since the P2P lending industry only came into being in 2006. In many cases, consumers are finding it much easier to qualify for peer to peer lending compared to standard loans.
So what is a commercial mortgage lender?
Essentially, it is a firm that can provide a commercial real estate loan to customers who are looking for financing for properties that are used for commercial purposes. They usually have contacts within the market and are experts in finding financing that will suit the client and help the client reach their long and short term goals for the property. They are often a bit more challenging to locate than traditional lenders and not the cheapest, but they can be found and are happy to help borrowers in taking the proper steps in getting the right financing.
Why are Borrowers Turning to Private Mortgage Lenders?
It is a well known fact that it's very hard to conceive of the banking industry's reputation ever sinking any lower than it already has. The major over-selling of payment protection, as well as all the bailouts and the recent market meltdown have cheated consumers by the millions.
Unfortunately 90% of consumers still use banks, but many are interested in abandoning their banks in favor of dealing instead with private mortgage lenders and other providers of financial products that are far more ethical in the way they do business.
What exactly is Social Lending?
One of those options is p2p lending, known as social lending, whose concept is relatively easy to understand. An online lending website draws in investors wishing to lend cash to individuals and businesses who, obviously, need the money. Since credit issued by more traditional lenders is difficult to acquire, peer to peer lending is becoming a very popular option. This past May, industry sources have reported that social lending figures have reached the $1,000,000,000.00 billion mark, and that's astonishing since the P2P lending industry only came into being in 2006. In many cases, consumers are finding it much easier to qualify for peer to peer lending compared to standard loans.
So what is a commercial mortgage lender?
Essentially, it is a firm that can provide a commercial real estate loan to customers who are looking for financing for properties that are used for commercial purposes. They usually have contacts within the market and are experts in finding financing that will suit the client and help the client reach their long and short term goals for the property. They are often a bit more challenging to locate than traditional lenders and not the cheapest, but they can be found and are happy to help borrowers in taking the proper steps in getting the right financing.
About the Author:
If you're looking to find private mortgage lenders that can provide commercial and residential financing, then Blackhawk Investments are a fantastic choice. Blackhawkcorp.com - The top California mortgage broker.
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