subject: Mobile Home Loan Freedom [print this page] Did you know that you have to have a good reason to get a traditional loan? Banks will not dole out loans to anyone unless they know how you intend to spend loan money. Banks aren't willing to let borrowers spend loan money any way they choose, and this can be entirely frustrating.
It's within the interest of every bank to know exactly how a borrower will spend loan money. Why? This way, a bank can ensure that their money will be paid back. For example, no borrower can obtain money for a business venture unless the bank in question agrees upon the venture itself. Of course, in order to convince a bank that you will be spending money wisely, you'll have to come up with a fairly concise business (or other) plan.
What happens when you need money, but your bank doesn't see your cause as being a worthy one? In most cases, you'll be instantly turned down for a loan. In other cases, a bank may decide to deliberate over the necessity of a loan for many weeks or months.
Then again, people who have bad credit won't even be considered for a bank loan. When your record is marked with bad credit, banks won't take a risk - it's that simple. Unfortunately, this leaves a lot of people in need of money without any hope of a loan. In addition, it leaves many people scrambling to find a good enough reason to ask for a bank loan.
In stark contrast, a mobile home loan that is gained through a private lender is not restrictive in any manner. A private loan will allow you to use your loan money as you see fit. Whether you intend to take a vacation or make home repairs, your private mobile home loan is yours to spend in any manner.
In this way, mobile home loans allow people a lot more freedom when compared to a traditional loan. The best part is that private lenders do not base your loan acceptance upon your past credit history. All you need to apply for this type of loan is to own a mobile home.
If you can prove that your mobile home is yours, then you can apply for a private loan right away. You won't have to wait for months, the application process is simple, and you will have your money in a flash. In short, a mobile home loan is the only way to go if you want complete and total loan freedom.
by: Molly Wider
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