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Updated about 8 years ago,
Questioning a private money lender
Hello from Houston, Tx. I have reached out to a private money lender for the first time. Being the first time, I am really skeptical, I don't want to be scammed. For those who have experience or are private lenders can you tell me if below is the norm.
I have been asked to pay for loan insurance and send the payment to a personal bank account. I have confirmed the account has been opened for more than 36 months. In our repayment agreement it states an attorney will handle the insurance but I have not been able to confirm this person is a lawyer. The lender states it is.
What are some questions I should ask?
Has any ever had experience with Mason Private Lenders?
Thank you in advance for any wisdom.