Money lending has long been a trade practiced by many. It was used in businesses decades ago and is still in use today. But is it carried out in the same manner as it was years ago? Or are the people involved in such dealings becoming less scrupulous and more ruthless these days. Because those days money lending was done purely using the trust that people had on each other. They trusted the person who borrowed the money and knew that they will get their money back. The dealing were done only using spoken words. There was no signing of bonds and contrasts and no legal issues involved.
The villain of today’s generation
So who is the bad guy in the modern world of finance and money lending? Is there someone who gets the title of the payday loan in Singapore because of their lack of principles when it comes to dealing with money and customers? Most people would vote for the mortgage bankers and hard money lenders involved with home buyers as the top dogs who head this list. Because many of us find that they are the people from whom a greater portion of the public are trying to run from. Such people are the ones who have lent money to individuals who are looking to buy their dream home. They have given these people loans worth billions and are looking to pounce the moment someone defaults on their loan.
They are called ruthless, because they are looking at their advantages right from the moment customers approach them. When they agree to give loans to individuals it is not because they are satisfied with the credit worthiness of the customer. Instead such a cash loan is all dependent on the value of the property involved. If they think it is going to provide them with a greater equity than the loan that is being provided one the customer defaults, that is when they agree to give an individual the money they require. They are always looking to benefit themselves through the transaction. If you are interested about Bridging loan you can visit this website http://bizlistings.sg/bridging-loan/.
Most of the time such loans tend to be more expensive but they are the last resort for most people. And although there are those who are genuine in running such a business, most of them out there are just loan sharks waiting to pounce on you’re the moment you default on your payments. So the question to be asked is whether it’s worth it to have the stress of having to repay the loan along with the worry of losing your home or is it better to be patient and save up by ourselves and buy our dream home with our money.