Posted by dewCO on January 09, 2001 at 14:59:12:
Doesn’t sound like a hard money deal, maybe a “B” paper loan. I have no idea why they are telling you this. It could have something to do with seasoning your ownership if you are wanting to flip ( a whole subject in itself which is covered here regularly!!).
Yes go find your own hard money lender. They should be under loans in the phone book and call those that aren’t large banks or lending companies sound like you definitiely need to shop around.