Posted by Craig on May 23, 2000 at 02:13:29:
If there are any you can ask around at title companies and they will know of them. A lot of times some of those private lenders are the guys advertising in the newspaper that thay pay cash for homes. The ones that actually have the cash make those loans sometimes. There’s one in my area that does them and charges 10 points and 15% interest after 6 months.
You may be able to get a better deal if you can cultivate your own sources to borrow from. Such as friends or associates or even family members that you can offer a good return.