Questions tagged [private-lending]
For questions related to private lending between individuals that (usually) does not pass through a third party, e.g. a bank or other financial institution.
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Lending money to strangers
A person I met online came to me asking for $200. He said he needed it to pay for a very important bill and he will pay it back on Monday. He also said he wouldn't be able to provide any liquid ...
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How can I word a life estate for myself without saying Life Estate?
I'm disabled and considering structuring a mortgage assumption to buy a primary home in Texas. My strategy is to have the seller settle a living estate trust that will bi pass me and convey to my ...
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Can I return money to parents even when we didn't have a formal agreement in the US?
For example, if I return US$30,000 to my parents, considering that they lent me money for my university tuition, can that be considered to be returning borrowed money, even though there were no formal ...
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How would a mortgage lender evaluate an existing private mortgage with no monthly payments?
I have a private mortgage for my house in the US. (Not seller-financed. My parents are the lender.) The lender gifts me the interest amount each month and only the interest is paid on the loan. So, ...
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What should I do when my friend doesn't pay back a loan I gave him? [closed]
I lent money to my friend for his wedding through my credit card. It was around $5,000. He said that he would pay me back within 1 month. It has been almost 5 months. Every time on his salary date I ...
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Someone gave my sister a bad cheque, what should she do?
My sister's ex-boyfriend convinced her to lend money to him so that he can lend it to some unidentified person. She lent him $25 000, and her ex probably lent $63 000 of his own money to this ...
- 417
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Lending club investments through a numbered company for favorable tax?
I'm part of a lending club in Canada that has just allowed corporate lending. My marginal tax bracket in Canada is 26%, so I'm trying to figure out if there is an advantage to lending through a ...
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Borrowed money from a friend to pay College fee - Implications of not paying
My wife is a US Citizen. She borrowed money from a friend to pay for her college.
She is unable to repay on time. She needs a bit more time, but unfortunately the lender is not ready to wait. He ...
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Am I paying too much in mortgage interest?
Hi there all you smart people.
I am looking for a hand on a mortgage I currently hold. I will give a little back story to hopefully let you see where I am coming from.
I have a summer home (the only ...
- 151
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Money transfer as a loan for educational purpose
I live in the US. A friend in another country (Caribbeans) is in need of cash $15000 for educational purposes. How would one transfer money properly? I suppose it is possible for me to transfer the ...
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Use of Self Directed IRA for Lending Second Mortgage
Here's the scenario: Let's say that I have someone who wants to borrow money from me to buy or rehab a house (i.e. secured loan), but I do not have enough money in my personal savings or self directed ...
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Borrowing from your parents on a mortgage, with money they borrow from a bank
Disclaimer: we know this is financially stupid, but this is my wife's health we are talking about. Yes we know we didn't make the most financially smart decisions
Situation: We bought a house in ...
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What does it mean if a lender asks for a "title" from your purchase?
My boss at my company has agreed to lend me money to buy a car to use for work, where I would pay him monthly for a couple of months until it is paid off.
Upon giving me the money, he asked me to ...
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Friends come with hat in hand, but I don't think it will help
I have two friends, a married couple with a ~1yr child. Shortly before they had the child, they moved in with his grandparents. The grandparents are apparently unwilling or unable to care to the child,...
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What are the procedures or forms for a private loan with the sale of a vehicle?
I'm doing something that I don't normally do: Mix friendship with business. I'm purchasing a vehicle from a friend but can not pay the full amount. We've agreed to have me put a down-payment for the ...
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How do I arrange a private mortgage between myself and a trusted individual?
I live in the UK. Specifically, how do I draft a loan agreement that provides basic safeguards for borrower and lender (very basic safeguards, as we're talking about an intra-family loan and the level ...
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