How long does it take to get a loan from 5050loan.com?
I saw the original post for 5050loan.com and the questions asked. In that, there were a few persons that claimed that they received a loan from this source and that it took awhile. Can someone please clarify the timing. I want to apply but really would like a guideline to how it plays out for the borrower.
From the time we applied to the time we got our money was about 35 days. We received 2 separate offers to buy our loan from 2 different lenders. The trick is get the lenders bidding on your loan. The less discount the more you net out. We cut our discount in half.
Also don’t ask 50/50 Loan to help negotiate with the lender they are completely out of the process and it is a waste of time to ask them. We understood this because you work directly with your lenders, 50/50 Loan is just the middleman. And your lender tells you they are not part of it.
The other part is be patient. Our friends told them to cancel their loan processing after 3 weeks. Stupid thing to do. We all have really bad credit and it was the only place that would help us.
50/50 Loan did what they said they would do, verify us and our background to the lenders and present our loan package to them. It saved our lives. Really.