Today’s article was written by Steve Biderman – a specialist in ‘B’ lending and private mortgages with The Mortgage Masters.
As a ‘B’ specialist and private mortgage lender, I have noticed many in my area of business easily become disenchanted, almost disdainful of their clients; as if somehow the financial need of their audience is related to morality or trustworthiness.
My view is different. I understand that bad things may happen to good people. Sometimes life gets in the way of a good working plan.
If the bank doesn’t want to speak with you… if alternate lenders are not interested… if all seems hopeless but selling your home isn’t an option… a private mortgage may be your only hope… hence, “I lift my lamp beside the golden door!”
Find a private lender that understands. Find a private lender that doesn’t judge. Find a private lender that is focused on getting you back to a ‘regular’ mortgage. Find a private lender who spends more time listening than talking.
A private mortgage loan does not have to be the last stop on the way to Palookaville! It can be the first stop on the way to a financial renaissance. Just make sure you are dealing with the right lender.
Most people know if they are being heard… or ignored. You’ll know too.
Related article: These seven factors affect your mortgage approval
For people that can afford it, consumer proposals are often a better option. It allows them to avoid a bankruptcy and to make some payments to their creditor