Where can I find a hard money loan in TN?
Jun 11, 2009
in
Hard Money Loans
I would like to get a hard money loan or a secured loan using my mobile home as collateral. I want to borrow ,000 to use to start a business. My credit is bad but I have a mobile home that is paid off, that I could use as collateral. Does anyone have any information on where to get this kind of funding?
Thanks!
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2 comments
? on June 11, 2009 at 5:40 pm
You’re attracting the scammers thick and heavy… You need to fix your credit before you go for a loan, have a business plan and show you are going to be a good risk… Right now, you can’t… Here are some tips for determining whether a loan is legitimate or a scam:
1) They don’t use a free email address (yahoo, gmail, hotmail, live, etc)
2) They have a secure website you can go to to fill out their application (this isn’t 100%… do a search with the company + fraud and also + scam… and check the BBB)
3) They don’t require ANY fees upfront. Any fees will come out of proceeds of the loan (scammers want their fees via Western Union or Moneygram)
4) They have a REAL address you can send mail to
5) They have a REAL phone number, not a cel phone
6) Look at their profile – usually created in the last 48 hours. Why? Because they get reported for this, yahoo deletes the accounts, so they just open a new one and send again until they are deleted once more!
7) If you’re STILL not convinced, despite one or more of the above applying, check them out for yourself: http://www.nextwebsecurity.com/LocationTools.asp allows you to search for their IP… turn on your full headers and check each one of the IP’s in their email to you! Or check the data base at: http://www.419legal.org/ …if nothing shows up, post your email under: http://www.419legal.org/fradulent-email/ and a professional will check them out for you… (please include FULL headers minus your personal information)… Once you’ve checked them and are convinced they are scammers, please forward a copy of their “loan application” to abuse@yahoo.com, abuse@hotmail.com, etc
Kat on June 11, 2009 at 5:40 pm
It is best not to borrow on your home to start a business. A hard money loan is very expensive and usually given at 50% of the value of a home. Mobile homes are even less. Usually these loans start at 12% . There are so many other lucrative businesses that cost very littel and you can work from home. I have several businesses that pay well and did not cost more than $500. Please be careful on what you are doing. You might want to call your local Chamber of Commerce, sometimes they have volunteers that offer free advice for start up companies. If you need more ideas, please send me an email.