Private Lending Mistakes

[Bill Gulley]

For you "private lenders" what mistakes have you made? I'm wondering if private lenders are 1. willing to disclose mistakes and 2. what they did to correct it, if they did at all.

I just read about private lending, the lender claimed to be a private lender and not lending to non-owner occupied, leased properties, leads be to think they meant owner occupied.....then claimed to be in the business of lending. So, is there a mistake there?

Then, there was a comment about charging loan fees (or points) on a private loan, is that another mistake for a private lender?

So, what is a private lender? :)