How do private mortgages work?

Valentin EriksonInvestments

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Lending private mortgage money, sometimes known as “hard money lending”, simply refers to private individuals or groups loaning money to a borrower at higher than “normal” interest rate.

The borrower might be looking for a mortgage to purchase a property, wanting to re-finance an existing mortgage, or needing to add a second (or third) mortgage “behind” the first (or second). Like an institutional lender, the private mortgage lender-investor holds the borrower’s property as collateral for the loan, and receives payments on the loan (10-15%). The interest rate, fees, and terms are negotiated between the lender and the borrower, sometimes through an intermediary like a mortgage agent.

For more on how a private mortgage works call Erikson Law Firm P.C.: 613-692-5885 or send us an e-mail: We have registered many private mortgages representing private lenders, borrowers and financial institutions.

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