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4
votes
1answer
62 views

Are unknown lenders safe to use?

I want to refinance my mortgage, so I went searching for rates and a typical page on BankRate looks like this: These rates are a good half a percent less than what's offered by the major banks, but ...
0
votes
0answers
16 views

Canadian Lending Guidelines

What are Canada's lending guidelines for conventional, private, portfolio and hard money real estate and commercial lending, and are there stringent income (or loan to value) requirements for these ...
1
vote
1answer
76 views

How do credit card companies make money from cardholders who do not carry a balance? [duplicate]

How do credit card companies make money from cardholders who do not carry a balance? It seems credit card companies are eager to offer their services to borrowers even if they have a tendency to pay ...
11
votes
1answer
1k views

What's the logic for the length of service (employment) criteria for mortgage applications?

On a mortgage application, what's the logic - and is there any evidence for it - regarding longer length of service being 'better' for an applicant? I can understand if you've only been in the job a ...
7
votes
4answers
588 views

First Mortgage - Finding a Lender

I have been looking for a home in the US, I am a first time buyer and was wondering if someone with more experience than me can recommend ways to find a good lender? I started off by talking to my ...
8
votes
1answer
2k views

How to get back the money that you lent someone? [closed]

I lent a friend a few hundred dollars a couple of years ago. Initially, he agreed to pay me back in a few months, but it never happened. The only evidence that I have is my check slip and also a long ...
1
vote
1answer
2k views

What does it mean to borrow long and lend short

What does it mean to borrow long and lend short? I took a mortgage from a bank and I opened a savings account with the same bank on which I get interest. Did I borrow long and lend short? Or did the ...
2
votes
1answer
72 views

Lend money at a rate linked to the prime rate

Are there any fixed income investments for retail investors that offer a rate that is fixed to the prime rate (like : prime - 1%). Usually it is easy to borrow money at rates that are linked to ...
0
votes
1answer
89 views

Lending Club - Interest rate and interest received compared with total payments discrepancy?

I have a Loaner's Lending Club account. There seems to be a discrepancy between some of the numbers on my account (the discrepancy would be in my favor, I just want to know why they are the way they ...
5
votes
2answers
285 views

Is it impossible to get a home loan with a poor credit history after a divorce?

I am a very recently divorced single mom. I own my small farm which we cannot live at due to my ex-husband's continued harassment. I have the farm for sale but so far all interested parties want/need ...
7
votes
1answer
731 views

Any Canadian tax shelter for lending to friends or family?

I am considering helping friends or family out of credit card debt, which is costing them ~18% per year by giving them a loan at more like ~3% (kind of like consolidated credit/debt). Is there ...
8
votes
3answers
5k views

Is person-person lending/borrowing protected by law?

Suppose that individual A lends his money to individual B. In order for A to be protected, what does he need to do? Is his lending protected by law? (I would prefer to hear the general case, but if ...
16
votes
9answers
4k views

What precautions should I take when lending money to a friend?

I'm thinking of helping out a friend by lending him some money (~ $10k). I totally trust him, but I still have a feeling that I should have a contract or something similar. Are there standard ...
3
votes
3answers
299 views

Peer-to-Peer Lending (Prosper, Lending Club)

I've been debating the idea of doing peer-to-peer lending. I saw this question and am curious: What kind of success/failures have people seen from P2P lending? Some sites require their users to ...
5
votes
2answers
245 views

Do US banks lend your money to foreign banks during the weekend while you cannot make withdrawals? [closed]

I was told by an economics teacher once that banks take advantage of the weekend being closed to deposit on hand cash in foreign banks, specifically Mexican and South American banks. The lending bank ...