tuffat
Cashflow Apprentice
Posts: 10
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Post by tuffat on Apr 4, 2005 0:01:50 GMT -5
I have been reading about hard money lenders and what they can offer you and at what price. My questions is, say if you are not able to repay the hard money lenders due to house destruction, are their is a last minute found on the house. Is their options to get out of the loan, are just turn over the property. Is hard money lenders good source of financing to use for a new investor are is he better off finding a partner that can finance the deal until he is able to finance the deals himself. What are some other ways of financing on rehabs, foreclosures, preforeclosure properties without using banks which require credit checks. New investor learning the ropes and looking for options of other financing
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Post by Jake on Apr 19, 2005 13:58:21 GMT -5
I have been reading about hard money lenders and what they can offer you and at what price. My questions is, say if you are not able to repay the hard money lenders due to house destruction, are their is a last minute found on the house. I’m not an expert at hard money lending, but I would imagine you could buy insurance for cases such as property destruction. Is their options to get out of the loan, are just turn over the property. This depends on the contract between you and the lender. If you breach the contract, then the lender would act much in the same way as a bank. Is hard money lenders good source of financing to use for a new investor are is he better off finding a partner that can finance the deal until he is able to finance the deals himself. This depends on your particular situation. I don’t see any problems using a hard money lender to finance a rehab if you are an experienced investor. Hard money loans are primarily used when you need the money only for a matter of months and you’d prefer not to deal with a tedious qualifying process. Rehabbing properties is very difficult for the first time investor – personally, I’d partner with someone who has experience first. What are some other ways of financing on rehabs, foreclosures, preforeclosure properties without using banks which require credit checks. New investor learning the ropes and looking for options of other financing Have you considered owner financing as an alternative to hard money lending and bank loans?
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Post by dianehowell on Apr 30, 2012 4:00:53 GMT -5
Money lending and bank loans are tough financial aids today. So it is necessary to find some piece of advice from the expert for this. Actually, A brand new law in Utah could make an enormous difference for payday lenders in the state. They are now being required to register with the state. If a payday lender does not register, their loans will become void. This means they will be unable to collect principal or interest on the loans. This is good news for people seeking to get payday cash advances because it means lenders are going to safer places for emergency cash. Get more info at: Payday Loans. We all must be aware that lending process will that hard to cope at, especially if we are dealing with wrong people-the scammers.
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