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Attachment 8737
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settings >> investment account settings
Attachment 8737
No worries at all - I was aware the service was going down, I just didn't get round to figuring out the LC email notifications till now.
Saw a few email notifications for loans I would have bought into over the weekend but was too slow to get any of them. Will need set up my phone's notifications for LC emails to be really obnoxious to get me to jump on it each time I receive one!
Most borrowers on LC use a vehicle and/or property as security.
Does anyone know if LC take into account the depreciating value of a vehicle when issuing the loan? Also, what happens if the borrower has crashed the car and now has a car of a lesser value than the car that was used as security for the loan?
What happens to the LC loan when the borrower defaults on their house mortgage and the bank forces a mortgagee sale which may only cover the mortgage?
I've called LC and put these questions to them but never got a straight answer. I personally like to know what I'm investing in!
With all due respect. Maybe this form of investment is not for you. This is high risk, thus the high returns. A lot of borrowers that use this type of lending are not able to source funds from other lenders such as banks. In many cases this is the last stop.
I am fully aware of the high risk, however, I'd still like to have an understanding of what I am investing in as opposed to just hoping for the best.
@Saamee Yes I've spoken to Wayne Croad and I did not get a straight answer unfortunately hence I am asking on this forum.