NLIC.org

Tracy Said:

Where can I find a hypothecation lender to lend me money so that I can buy private mortgage notes?

We Answered:

www.LOANIO.com (not my website) has investors bid to loan you money. Hypothecation loans are "pledged" loans; you must have something to pledge as collateral..

Naomi Said:

How do I find a private lender for a 2nd on a VERY secured Mortgage?

We Answered:

Go to your local bank and ask for a home equity loan.

Tammy Said:

How can a private lender add payment history to credit report?

We Answered:

Your lender would have to pay the fees to subscribe to the credit bureau. It isn't cheap. Does your lender use one of the other two credit bureaus? Not all creditors belong to all three.

There is an alternative for you but this would be just a one shot listing of the mortgage. There would be no updates which wouldn't really help your score.

Susan Said:

Beneficial Finance - Is refinancing available on a existing mortgage which is through a "Private Lender"?

We Answered:

You need to hold title to the property before you can finance on it. If you have any secured loans on the property, they will be paid off, regardless if they are a private individual or a lending company.

Also, no covential lender will loan money to a property that is in foreclosure. You have to use a foreclosure bailout lender. They usually require a 70% loan to value before they consider loaning you money.

At this point, your equity means nothing if the banks foreclose on this property. If you're in Southern California, contact me and I'll see what I can do.

Regards

Bernard Said:

In a refinance, when the mortgagee is a private lender how do they write up a mortgage payment history?

We Answered:

It depends on who is asking for the history. Normally the person asking for the history has a form that they want them to fill out and then they verify.