Need A Private Lender

[Jim Cummings]

I need a Private (NOT Hard Money) Lender for a Transaction in Austin, TX if anyone has any contacts.

[Jim Cummings]

John. I'm not really in-tune with the Private Loan Market. What I'm finding is a lot of folks that say they are "Private Money Lenders" (meaning they make Lending Decisions based strictly on the merits of the situation) are NOT! They are mostly "Hard Money" folks that don't do strictly Fannie & Freddie Loans - but they still have State & or Dodd-Frank guidelines to meet. In Texas that means NOT lending in Owner Occupant situations. These seems to be driven (In Texas) by our strong Homestead Act, and the "govmint" protecting you & your Homestead.  I have heard from one BP Member that indicates we may be able to get something moving. Hope So!