The most common reasons to seek hard money are:
• Need a loan quick.
• Does not have tax returns proving all the income.
• Poor credit (but most hard money loans are arranged for
borrowers with good credit).
• Unusual credit/income situation.
• Unusual property or property condition (e.g. unfinished
• Cannot obtain a bank loan despite several attempts.
There are 7 vital steps to ensure the best and most
optimum hard money loan. Skipping any of the steps may
result in not being able to obtain the loan in timely manner
or ending up paying more than was needed. These steps are
detailed at the http://www.lendinguniverse.com . The second
step involves searching for hard money investors - it is
vital to search everywhere.
Since hard money loans are funded by private investors
one should look for local hard money lenders by googling
“hard money lender my city name” or “hard money lender my
state name”. For loans of over $500,000 a borrower can also
search general terms to get the nationwide lenders by
googling “hard money lenders”, “private real estate loans.”
It also advised to add property type. E.g. “commercial hard
money loans” in case the property is commercial or “land
hard money loans” etc.
Note: Exactly how to search and how to track the
different lenders and offers is part of the sophisticated
yet simple-to-use the free
software that the website offers. Borrowers are able to
track hundreds of offers, negotiate and compare it all from
one single control center. Social security numbers are not
needed for the initial request. The precise timing of when a
borrower needs to provide confidential information is
detailed on the website. Using it borrowers can avoid, or at
least reduced, the pitfalls and anxieties normally
associated with getting financing and thereby get the most
optimum loan possible. In the past 10 years the website has
provided software to help find and tack loan quotes by
hundreds of lenders, brokers, private investors, and banks.
Lendinguniverse.com is neither a lender nor a broker it is a
lending portal and a market place for hard money loans. It
does not endorsed any bank, lender, broker, private
investor, or any other entity connected with arranging
hard money solution