How to Start Seeing Success with Hard Money Lending
We live in troubling financial times, and nowhere is that more evident than in the housing market. Financial shifts have taken a bite out of people’s credit and cash flows, and potential home buyers are suddenly discovering that they no longer qualify for home loans under new banking guidelines. Not surprisingly, the banks are concentrating their efforts on premium-grade buyers and properties, leaving everyone else out in the cold. But there is an alternative that’s starting to become more and more popular – the notion of “hard money” or private loans. What is a Hard Money Loan? If you’re new to mortgages or lending in general, you may not be aware of hard money lending or private loans. Both of these terms essentially refer to the same thing. In short, private money lenders are using their own capital to make the loan, therefore, they’re not beholden to the same regulations and requirements as traditional lending institutions, like banks and credit unions are. Because pri