ReBlend provides an option to buy and sell existing loans. Any lender can resell his/her loans to other lenders. In other words, if you want to get the money you lent back, you simply put the loan up for sale, and that’s it so that another lender can buy it from you.
BLender provides liquidity by giving you the option to buy and sell existing loans…at any point during the loan period. So why not take advantage of that?
ReBlend: How does it work?
1. If you want to sell an existing loan, go to the “Lender Administration” page and click “Sell Loans”.
2. Select the loans that you want to sell, and click “Sell Selected Loans”.
3. The loans that you selected will be offered to other lenders who are interested in buying them.
How many loans can I sell or buy?
As many as you want. You can select a few loans to sell or all of them. Alternatively, you can choose to buy as many existing loans as you’d like.
Which loans can I buy or sell?
Any active loan in good standing.
Why should I buy an existing loan?
If you are interested in lending for a shorter amount of time or at a different interest rate or lending a different amount, it is worthwhile to step into the shoes of a lender who wants to sell (once you have checked the terms of the loan, of course). You get flexibility, convenience and control.