Simply put, Private Lenders have fewer restrictions than a bank on who they can lend to. For example, someone can inherit a $900,000 home from their mother. This home is in disrepair and has $150,000 left on the mortgage. If you have bad credit and tax debt you usually wouldn’t be able to get financing from a bank. Through a home equity mortgage loan from a private lender, you could pay off your tax debt as well as refinance the outstanding mortgage even with bruised credit and outstanding debts. Canadalend can find these lenders and make sure you get approved for the money you need, at the lowest rates and associated fees.