When Amy Semerjian bought her home in Northampton, Mass., this year, she borrowed money from a traditional source – her parents – using a nontraditional company, private loan facilitation firm CircleLending.com. As housing prices soar and affordability diminishes, wannabe home buyers are using new alternative approaches such as interest-only loans and adjustable-rate mortgages to help them achieve home ownership. CircleLending doesn't provide a new option so much as improve an existing one. The Internet-based company provides loan documentation, payment processing and document recording services for borrowing and lending between friends or family members. About half of its loans are for mortgages, the rest are for small business or other loans. Since the Cambridge, Mass.-base...
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