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Updated over 8 years ago on . Most recent reply

Private Lending Payments directing into Lender's Bank Account?
I bought a property using private money, and I would like to electronically send the monthly payments directly into the private lenders' bank accounts. I would prefer not to use a third party site (ie Dwolla, etc) where they have to sign up for an account. I just want the money to show up in their account, and make it as easy as possible for the lenders. I have the account and routing numbers for each lender.
Any ideas on how to make this happen?
Most Popular Reply

Thank you @John Thedford, @Don Harris, and @Bill Gulley. I appreciate the tips. I think I'll try the Bill Pay service with my bank and see how that works. Thanks for the advice Bill. Yes, we keep it very simple with Promissory Notes and Mortgages for each property, but definitely something to be careful about.