Section 4, Unit 3: Private Sources of Funds
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Georgette and Elise are buying a home together, and have taken out a loan with a private loan company. They'll pay a bit more interest, and larger fees, but they feel it's worth it to have the home they've always dreamed of. What else might the private loan company require?
Collateral
Private loan companies may place a ______ on the property for which the loan is being taken.
Lien
Private loan companies may be found in many places. There are ______, regional, and local lenders, and even individual entrepreneurs who loan money.
National
Who should sellers consult before agreeing to carry part of a loan for a buyer?
Their financial advisor