Please don't be alarm by this. I will use my house for colateral. My house appraise at $527,000.
2006-08-22 09:41:59 · 49 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
ok.. I don't remember what the website is but maybe you can find it, the principle is that you ask for a lend, and many many people lend you a small amount. then when you pay it back it's spread according to the amount each paid... i have no idea what its name was but i heard of it a while back... good luck.
2006-08-22 11:14:47 · answer #1 · answered by chocolateknight69 3 · 0⤊ 1⤋
Unfortunately, anyone who has $400,000 extra to give you for 10 months is not going to really care about $15,000. They could make much more than that in any other investment, not to mention the interest they would lose just from having that money in their bank. But a bank should be able to give you this loan no problem. As long as you don't have a loan on your home and good credit. If you do have a loan, then this sounds very unlikely. But good luck! Anything is possible.
2006-08-22 09:55:26 · answer #2 · answered by Ruthie 4 · 0⤊ 0⤋
You local bank or credit union would be the best place to start (you'd likely get the best interest rates than through some of the online companies). You can also try places like http://www.lendingtree.com to see if you can get the best rate for the loan amount you want. And a few answers I've seen to other questions here have told folks to check out http://www.prosper.com but since I haven't used either site myself, you're on your own for whether or not you choose to use either.
I still think your local bank or credit union would be your best bet and the least hassle too.
2006-08-22 09:50:52 · answer #3 · answered by Molly M 3 · 0⤊ 0⤋
Your not even close on the interest you would need to repay. But may I suggest a refi on the home or a line of equity. If you need the money for a business venture check with your local small business association and you may possibly find a backer through them. Good luck!
2006-08-22 09:51:43 · answer #4 · answered by Badkitty 7 · 0⤊ 0⤋
$15,000 isn't very much interest on a $400,000 loan, even if it is a 10 month period. If you consider paying more interest, some small business owners would consider a loan of that amount.
2006-08-22 09:57:14 · answer #5 · answered by bme79 3 · 0⤊ 0⤋
Just take a home equity loan out and then pay it off as soon as you get the money back that way you won't be slammed with interest.
2006-08-22 09:48:49 · answer #6 · answered by maris325 2 · 0⤊ 0⤋
Try a bank...if the value of your house is that high and your equity is in good shape...you should be able to secure a loan
2006-08-22 09:48:04 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Try for a bridging loan. Only a financial institution can lend and be exempt from usury laws.
2006-08-22 09:49:19 · answer #8 · answered by Anonymous · 0⤊ 0⤋
If a bank does not thinks it's a good idea to loan you the money, why would anyone else? Please put down the little pipe and step back...
2006-08-22 09:49:11 · answer #9 · answered by Anonymous · 0⤊ 0⤋
but you owe a ton on your house so what good is the house and that is not enough interest fro me and my boys - Tony Soprano Loan and Mortgage company .
2006-08-22 10:25:49 · answer #10 · answered by Anonymous · 0⤊ 0⤋