private lender risks and disadvantages

[Walid Elfoly]

hi bp members,

it seems to me that it is very difficult for foreigns to get any type , mortgage  from banks, especially if they leave out of US ,and i think that the easiest way is to get mortgage,loan, from a private lender association or company,

my question

is there are any risks to deal with a private lender companies?

and what are the disadvantages of dealing with a private lenders companies comparing withe banks?

[Marcus Svehlak]

Typically, private money is short term with higher rate and fee. It's also important to make sure you're borrowing from a reputable source--Make sure you know your lender, look at their portfolio, their financials, etc. And I would recommend borrowing from a company/fund not a private individual.

Source I work for a hard money lender in California so I'm likely not a viable resource for you. But if you have any questions give me a shout. I'm always happy to help.