Will someone let me borrow $48,000 to be repaid at 1250 per month for 3.5 yrs? Contract and all legal stuff in

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Will someone let me borrow $48,000 to be repaid at 1250 per month for 3.5 yrs? Contract and all legal stuff in

2007-10-29 03:41:30 · 3 answers · asked by salliepat 1 in Business & Finance ➔ Personal Finance

3 answers

That works out to an interest rate of only 5%. I could get that risk free by putting my money into a CD. The risk involved in lending money to someone looking for a loan on Yahoo! Answers means the interest rate would have to be much higher. Sorry.

2007-10-29 04:35:43 · answer #1 · answered by Kathryn 6 · 1⤊ 0⤋

I offered this person a loan at that rate if they could provide some collateral at the value of the loan--They unfortunately could not. I wonder why they can't go through normal channels, especially with falling interest rates in the marketplace.

2007-10-29 18:00:32 · answer #2 · answered by Mike 7 · 0⤊ 0⤋

2007-10-29 03:57:04 · answer #3 · answered by Anonymous · 0⤊ 0⤋