Posted by Bud Branstetter on October 13, 1998 at 12:55:03:
They are not going to break your arm if you do not pay(though there may be some). But they are in business to make money and should not hesitate to foreclose and/or take the property. Many are private lenders that do so through personal contacts or mortgage brokers.
They have their place. It is more rewarding when you don’t have to pay high fees, points or interest to someone for the use of the cash. Next to finding and selling it should be a top priority to be able to self fund.