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Borrow money

Posted on Wednesday, January 16, 2008 at 09:08PM by Registered CommenterHutch | CommentsPost a Comment | References3 References

     So, you're having trouble coming up with money for a down payment or need a bit of cash for some legitimate purpose, but you don't want to use your house as an ATM and get a HELOC. A wise decision I might add. So, what do you do? Here's an idea: go online and visit some person to person lending sites. P2P is growing quite rapidly here in the U.S., partly from the new interest in social networking and a credit crunch. So, instead of selling your soul to the devil and getting a HELOC, go to one of these sites and check out the beautiful world of P2P lending. I'll give you the quick and dirty. People get together and lend money to people who need it. It's very basic. You can be on either side. You can lend money if you have it, and borrow it if you need it. It's higher risk, but higher reward. Let me know what you think.

Prosper.com, Lending Club, Zopa.com, Kiva.org

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