Research is Essential When Borrowing Online

November 4, 2010 1

The trend toward doing everything online has grown to encompass the process of obtaining loans. This phenomenon applies to everything from mortgages and home equity loans to personal and auto loans. Those considering using online lenders need to be very careful that they are dealing with a reputable and trustworthy lender and not a scam company — or a bunch of computers that can’t provide personal attention if there is a question or problem with a loan.

Even people who plan to go through a three dimensional lender, such as their bank or credit union, will likely conduct initial research online in order to understand the types of loans available and how interest rates and their own credit history may affect their ability to borrow.… Read the rest