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Hard money lenders offer loans backed on property. They tend to be short term loans, but as they use the client's house as collateral they can cause the person to foreclose their property. Hard money lenders place a higher focus on the value of the collateral over the ability of the borrower to repay.
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How are hard money lenders different from soft money lenders?
Hard money lenders are much different then soft money lenders. They typically ARE NOT commercial banks or deposit institutions, charging a lot more interest.
How can you find an investor to loan you money for a house?
look for private money lenders or hard money lenders on the internet.
Where can you find information on hard money lenders and funding options?
There are a lot of places to look for information on hard money lenders and funding options. Some of the websites to look at companies like Moolahlist and Foreclosure University.
Is it safe to borrow money from private hard money lenders?
It might be safe depending on who you go to but not always. Hard money lenders tend to charge outrageous fees and interest rates, so if you can find one who is reliable it may be a good idea if you can't get a standard loan from a bank or another financial institution.
Who will lend to people having low credit scores?
There are a number of specialty near-prime, sub-prime and "hard money" lenders that will lend to individuals having low credit scores. In most cases, the lender to choose depends specifically on what you are trying to get credit for. There are specialty auto lenders, mortgage lenders, personal loan lenders, etc. Please see the attached links for possible lenders.
How are hard money lenders different from soft money lenders?
Hard money lenders are much different then soft money lenders. They typically ARE NOT commercial banks or deposit institutions, charging a lot more interest.
How can you find an investor to loan you money for a house?
look for private money lenders or hard money lenders on the internet.
Where can I find a hard money lender in florida?
You can find hard money lenders nationwide at www.dohardmoney.com.
Is there any hard money lenders in New York?
There are several hard money lenders in New York, some of which will fund the full purchase price of the item you are looking at.
Who are some hard money lenders in California?
Some hard money lenders in California are The Norris Group, Arixa Capital Advisors, Equity Coalition, City Capital Realty, The Hard Money Pros, Athas Capital and Vantex Mortgage.
What are the benefits of a private hard money lender?
Private, hard money lenders can be a benefit in that they may be able to provide you a loan if you have credit so low that mainstream lenders won't take a risk on you.
Where can you find information on hard money lenders and funding options?
There are a lot of places to look for information on hard money lenders and funding options. Some of the websites to look at companies like Moolahlist and Foreclosure University.
Will it ruin your credit if you have to use a hard money lender?
Hard money lenders will not effect your credit rating in one way or another. They are not a financial institution like the banks so the Government does not back the lending so they can not effect your credit rating. The hard money lenders are for the higher risk catagories of leanders to enable them to secure a loan.
What are hard money lenders and where would you find one?
Hard money lenders are people who make short term cash loans to speculators and investors who are buying property and need to have the cash on hand when they apply for their loans. You can find one by talking with other real estate investors or looking in the classified ads in your local paper or the local yellow pages.
Is it safe to borrow money from private hard money lenders?
It might be safe depending on who you go to but not always. Hard money lenders tend to charge outrageous fees and interest rates, so if you can find one who is reliable it may be a good idea if you can't get a standard loan from a bank or another financial institution.
What do hard money lenders do?
A hard money lender is the person who offers you money loan which is actually an asset-based loan financing. The process is usually about the borrower acquiring funds that are secured by real property.
Who will lend to people having low credit scores?
There are a number of specialty near-prime, sub-prime and "hard money" lenders that will lend to individuals having low credit scores. In most cases, the lender to choose depends specifically on what you are trying to get credit for. There are specialty auto lenders, mortgage lenders, personal loan lenders, etc. Please see the attached links for possible lenders.
