Hard Money Lenders Help Those With Bankruptcy and Foreclosure
Wednesday, September 19
Since the credit crunch of 2008 began, hard money lenders have stepped up to fill the void in the area of lending. For those who have had a bankruptcy or foreclosure on their credit in recent years, bank loans are simply not an option. These borrowers have had to obtain hard money and private mo...
Self-Employed Borrowers Still Need Stated Income Loans
Monday, September 17
One of the first questions that potential borrowers ask when they call a mortgage company or a bank is, “Do you offer stated income loans?” Although there are a few lenders offering stated income loans, the answer to this question is almost always NO. With stated income loans having all but disa...
Banks No Longer Accepting Cash Offers with Option for Hard Money Lender
Thursday, September 13
Many real estate investors have been trying to spread out their cash over multiple deals to make it go further. To do this, many of them have been submitting offers as all cash and, once accepted, they’ve been submitting an addendum for a hard money lender. (Lender financing addendum). This tac...
Ugly Houses Made to Sell With Rehab Loans
Thursday, September 13
Homeowners and real estate investors alike have always used rehab loans to fix up their properties. Before the financial meltdown, it was easy to obtain rehab loans from a bank in the form of a HELOC. These days it’s not so easy to get rehab loans from banks, since home equity has tumbled along ...
Real Estate Rehabbers Fix Up the ‘Dog Houses’ in Your Neighborhood
Wednesday, September 05
Real estate investors all over the U.S. have been extremely active in the last several years buying short sales and foreclosures that need work. These houses have become the “dogs” of their neighborhoods while waiting for their dreaded sentences, either a short sale or foreclosure. By utilizing ...