Looking to Private Money Lenders During the Credit Crunch
Friday, October 2nd, 2009
As a nation of debtors, we are all familiar with loans in one way or another. From car loans to mortgages, most of us have been knee deep in a loan at some point. There are certain types of financing, such as hard money loans, that are less familiar.
The finance industry is a mystery to many people. When banks were failing right and left, many wondered where the money was going. As we start bailing out and recapitalizing banks with $700 billion, many are surprised to see banks are still not lending. Heck, the federal government has even sent a directive to banks telling them to do so. Notwithstanding this, money is still barely trickling into the credit market. (more…)