Hard Money Lending

Impove Your Credit Score

2008-11-20T02:47:00.000-08:00

With a higher score you can reduce monthly debt payments, qualify for low interest rate loans and credit cards, and get into the home or car of your dreams.
We can get you..
· Approved for almost anything—without a hassle
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Repairing your credit is taking a big step forward in improving your financial future. So, choosing the RIGHT company to offer credit repair services becomes a large part of the equation for great results. With thousands of credit repair companies out there, it can become a daunting task to find the one that will be the best for you, the customer. Thus, we provided a number of pearls of wisdom to allow you to make the best choice in finding that company – our company – Fix Your Credit Inc.
You can count on our team to repair your credit, and every one of our clients receive the personal attention they deserve. We always update you with the status of your service. You’ll get the specific results you’re looking for, and the personal attention you need throughout your entire service.
That’s our promise to you.::
Our experienced team and proven process has helped people—just like you. We remove things like…
· Late Payments
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We repair all three of your credit reports, and you'll see results within the first 60 days. Our motivation is to quickly repair your credit and provide you with permanent results you can count on. We'll go directly through the credit reporting agencies and even your creditors to get the negative items removed. We'll even deliver lawful cease and desist notices to your creditors for the removal of a specific item (just another example of the extra mile we'll always go for you.)
Keep this in mind, when an individual applies for credit, three things are taken into consideration:
Your credit score
The negative or derogatory items within your reports
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We have handled everything you can imagine, and when we remove a negative item from your credit report it does not come back.
We take care of everything. Once you sign up, simply relax and we'll take care of the rest. Here's the process you can expect after you get started:
You'll receive a "Welcome Email" “Welcome Express Mail” from a member of our team congratulating you on your smart decision to get your credit repaired with Fix Your Credit Inc. and Fix-CreditRepair.com. They'll easily explain all the benefits of our program and gladly answer any further questions you have. Throughout your entire service you can email our support center at anytime.
We always keep you updated. You'll receive updates via email on the progress, and updated credit reports from the credit reporting agencies by mail through out your entire program. When you receive those reports, simply fax, or mail them to us and we'll continue the credit repair process. That's it! —We keep it simple.
We help you with all three.
Getting started is simple, there's just a one-time fee of only $995.00, and easy monthly payments of $29. You can expect to see results within as little as 45 to 60 days. You'll receive updates every other week. You'll get the personal attention you deserve, and support is just a email away. There are truly no hidden fees or unpleasant surprises—your satisfaction is completely guaranteed. You can also visit our "Frequently Asked Questions" section for answers to our most commonly asked questions.
We have been practicing credit repair for over 40 years. After you sign up you'll receive a welcome letter and an e-receipt sent to your email address.
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2008-11-09T08:13:00.001-08:00

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2008-11-07T18:08:00.000-08:00

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Florida Hard Money, Private Money, Sub-Prime, Commercial Loans

2008-10-30T06:39:00.000-07:00

Get a hard money loan approval today; make a smart and informed decision. With one simple form, get immediate results. Fill out our free home loan and mortgage loan refinancing application to refinance your home loans, home mortgage. Let the top home and commercial equity based mortgage lender approve your hard money loan request!
OUR SERVICE GUARANTEE We are qualified professionals who you can expect to meet your standards. Just fill out ONE hassle-free home loan application and have us approve your mortgage loan.
Bad Credit is not a factor
Residential and Commercial Mortgages
Hard Money Loans, Private Money Lenders
Foreclosure Bailout
Stop Searching...It's that simple with www.MyHomesEquity.com. This is a FREE service to all borrowers. Just apply HERE or start above and complete in just a few minutes! Learn more about the home loans and hard money loans we offer www.MyHomesEquity.com

Hard Money Loans In Process

2008-10-20T05:25:00.000-07:00

These Hard Money Loans Needing an Investor, Check Current List HERE

FREQUENTLY ASKED HARD MONEY LENDING QUESTIONS:

2008-10-18T05:34:00.000-07:00

What exactly are private mortgages? A private mortgage is a secured debt which produces a regular, predictable income stream to the investor with all the security, protections and recourse that a mortgage lien can provide. Rather than going to the bank, a borrower comes to us and we use your money to make the loan secured by substantial equity in real estate.

Why would I choose to invest in them? Private mortgages can easily exceed current money market rates by 10% or more. Unlike stocks, the security is tangible bricks and mortar, where legal protections such as title insurance and many other unique rights and remedies ensure the enforceability of a mortgage lien. Many private mortgage loans are also secured by personal guarantees from the Borrowers, adding another layer of recourse beneficial to the investor.

What kind of returns do private mortgages produce? Our private mortgage rates range from 14.5%. We also charge the borrowers origination fees at the time of closing often called "points". Because of the rates and the points we charge, we can safely assume that each deal will bring a 14.5% "Return-on-Investment" (ROI).

How often will I receive interest payments? Once per month, when the borrower makes his/her monthly payment.

How can I participate in private mortgage investments? We will submit viable loan opportunities for your consideration and you can select which loans to invest in. We will provide the due diligence that you desire so that you feel comfortable and we will help you make good decisions. Hard Money Lending is already staffed and equipped to do all the needed processing for each file.

How liquid is my investment and what time commitment do I have to make?Since most of our bridge loans have terms from 6 months to 12 months there is great flexibility. However once you have committed to fund a mortgage you should be prepared to hold that mortgage for the entire term. If you need liquidity sooner than originally expected, you will be able to sell the mortgage note to another private investor (which we can arrange) but expect to sell the mortgage note at a discount.

What is the minimum investment that I can make? A $10,000 minimum is required however most of our private mortgages range anywhere from $30,000 - $250,000. Any amount in this range can be invested.

What determines my rate of return? The risk involved in the note you are investing in will determine the rate of return. Even though we believe that all of our loans are well evaluated, some loans involve more risk. For example: high LTV loans, investment properties and 2nd mortgages.

How is my investment secured? A borrower signs a promissory note at closing wherein the borrower promises to repay the lender. The recorded mortgage creates the secured interest which attaches to the borrower’s real property. If the borrower does not pay as promised, the lender/ investor can look to the real property for recovery of their invested capital.

Can I invest with you and not necessarily in one particular note? We believe that no investor should place more than 15% of his total investment with us in only one investment. For example: if you want to invest $600,000.00 with us then this amount should be broken into at least 6 different mortgage notes, this will help limit your risk should any of the loans not perform.

How do we get started? Contact. Larry Burdgick (954) 205-7813

Hard Money Appraisals

2008-10-14T06:01:00.000-07:00

We are frequently asked, “Do I need to have an appraisal done for a hard money loan? Absolutely. Hard money lenders are primarily asset based lenders, rather than credit driven lenders; therefore, the value of the property is key to a hard money lender’s consideration when conducting due diligence on a property.

Most hard money lenders are not concerned about the past or future value but only the “as is” value. With short sales and foreclosures do the comps really tell the story? No! You need to do your research, check the appraisal, check the tax rolls and tax records. Give the lender the up to date and correct value information. In today’s turbulent market the lender is going to be extra conservative and cut the values so now the 50% or 60% LTV is now lower and could cost you a deal. This is all common sense stuff and also be prepared that the lender will order his own appraisal.

We had one client refuse to pay a lender a due diligence fee to cover the cost an appraisal, insisting the lender use the appraisal that he had already obtained. Consequently, the lender dropped the loan and the client lost the opportunity to purchase property he wanted to acquire. The cost of appraisal is money well spent to achieve your objectives.

Get Your Real Estate Financing Appraisal Right The First Time.

Real estate financing has become more challenging as a result of the sub prime lender problems during the past year. Work smart and be prepared.
The point of this post is to make you job easier and the get the job done.

BECOME A PRIVATE MORTGAGE INVESTOR

2008-10-10T05:08:00.000-07:00

Invest your money in a safe, secure investment! Stop dealing with the stock market roller coaster. We can help you earn BIG PROFITS with very LITTLE RISK! www.HardMoneyLending.biz

What is a hard money loan?

2008-10-07T08:38:00.000-07:00

There are a lot of misconceptions about hard money lenders: what they are, what they aren’t, how much they cost, and when you should use them. Hard money lenders are neither thieving opportunists nor last-minute saviors, but they are a resource that can sometimes be the right fit for a real estate deal.

What is a hard money loan?
Hard money, or private money, is exactly that: non-institutional money that can be borrowed, usually from an individual or an extremely small lending company. They are an alternative to a bank or traditional mortgage lender, and their loans are typically much different.

They typically charge interest rates in the teens, and charge at least 2-3 points and sometimes as many as 7-8. Clearly, this is not a loan for Joe Homeowner.

They typically lend for very short terms. This could be anywhere from a few months to a few years, but seldom longer.

They lend at extremely low loan-to-value ratios (LTVs), meaning that they will only lend a small fraction of the value of a property. If the real estate appraises for $100,000, they might only lend $60,000.

Advantages of hard money loans
With all of that being the case, why would anyone use them? There are several advantages, offsetting all of those disadvantages. To begin with, they are much faster to act than the average bank, often able to close a loan in less than a week. This makes them a good choice for distress sales and other scenarios where an investor has an opportunity to buy low but only within a short window of time. Second, they are collateral-based lenders, focusing first and foremost on the equity position of their lien, and scrutinizing the borrowers themselves far less heavily. That means that they will lend to borrowers with bad credit, borrowers who can’t document income and other difficult borrowers because they are only lending such a small fraction of the value of the real estate.
Brian Davis is a landlord and real estate investor based out of Baltimore, MD. He also served as an account executive for a hard money lender for five years. For real estate forms and more real estate tips, visit here for an archive of Real Estate Investing Articles.

Hard Money Not Stupid Money

2008-10-02T07:36:00.000-07:00

When submitting a hard money loan to a lender don’t think just because you have the LTV the file is automatically approved. In these trying mortgage times the lender is doing his due diligence on the file and looking for reasons to turn it down instead of reasons to fund it. The hard money lenders have been hit just as hard with foreclosures as conventional lenders.

You need to look at the file and if it makes sense to you and you would loan your OWN hard earned money on it, then send in the file. But send it in complete, by complete I mean ready to close.

If you don’t put the time in to fill out the 1003 completely the lender starts off with a bad taste about the file. The 1003 shows a picture and everything on it is important. In the past we all just got lazy and now we need to get back to the basics. Also, when getting it signed by the borrower it is just one more step closer to closing them. The work history, time on the job, position, address, phone numbers and income show the lender the stability and ability to pay them back. The assets show the net worth and that surely makes a difference to the lender. Always send in a signed cash out letter showing what the borrower is going to do with the cash out. Do a benefit test in your mind and come up with reasons and ways that this will benefit the borrower, even hard money lenders have concerns about honest lending.

Private Money Lending

2008-09-30T05:47:00.000-07:00

A hard money loan is a specific type of asset-based loan financing in which a borrower receives funds secured by the value of a parcel of real estate. Hard money loans are typically issued at much higher interest rates than conventional commercial or residential property loans and are almost never issued by a commercial bank or other deposit institution. Hard money is similar to a bridge loan which usually has similar criteria for lending as well as cost to the borrowers. The primary difference is that a bridge loan often refers to a commercial property or investment property that may be in transition and does not yet qualify for traditional financing, whereas hard money often refers to not only an asset-based loan with a high interest rate, but possibly a distressed financial situation, such as arrears on the existing mortgage, or where bankruptcy and foreclosure proceedings are occurring.

Many hard money mortgages are made by private investors, generally in their local areas. Usually the credit score of the borrower is not important, as the loan is secured by the value of the collateral property. Typically, the maximum loan to value ratio is 65-70%. That is, if the property is worth $100,000, the lender would advance $65,000-70,000 against it. This low LTV provides added security for the lender, in case the borrower does not pay and they have to foreclose on the property.

Hard Money New Sub Prime

2008-09-29T08:15:00.000-07:00

It appears with the mortgage meltdown hard money has taken the place of sub prime lending. The governments bailout is a joke, does it really help main stream USA and all the foreclosures? Do our government officials have any idea of all the fall outs and the repercussions that the Bush administration has left as a legacy?

Just one example can you imagine all the people who opted for a short sale when at the end of the year they receive a form 1099 and now after losing there home, they now have the IRS to content with? Will that be an awaking for the guy who negotiated a short sale for $200,000 or more and then getting another shock owing the IRS a big pay day?

It is important to note, “ When negotiating a short sale, you can require that the bank waive its right to a deficiency judgment. More often than not, the bank will because you have proven such a desperate hardship. Again, this is explained to the homeowners and left to them to decide whether to pursue the short sale”.

Become a Private Money Lender 14.5% Or More On Your Money!

2008-09-24T12:25:00.000-07:00

We can truly guarantee you an annual return of 14.5% or more. How? Well, it’s really quite simple. This is the best way to make incredible returns, even during a stagnant real estate market? There is a strong demand for 1st mortgage funding within the real estate residential marketplace.

These loans are generally made to people who in most cases are unable to secure conventional bank financing and seeks funding from a private source. We are that source… and you can make HUGE profits partnering with us in our endeavor to be the premiere source of private monies.
www.Hardmoneylending.biz larry@hardmoneylending.biz (561) 213-1632