Posted by Stacy (AZ) on March 23, 1999 at 15:35:47:
Gerard, I sent an email to you to answer your questions. Let me know if you didn’t receive it.
Stacy
“Mortgage Brokers” - Posted by Gerard J. Bonal
Posted by Gerard J. Bonal on February 19, 1999 at 17:13:54:
Dear Sir-
When I go to a "Mortgage Broker"asking them if they work with “Hard Money” it doesn’t matter about my Credit being in bad shape as it is- I think it’s (D) rated !! And what do i tell them if they asked???
Re: “Mortgage Brokers” - Posted by Stacy (AZ)
Posted by Stacy (AZ) on February 20, 1999 at 11:10:17:
In working with hard-money lenders, feel free to tell them your credit isn’t perfect if they ask. It doesn’t matter at all. Hard money loans, as you know, are based on property value and LTV, not at all on your credit rating.
However, a good mortgage broker may know of a loan program that you could use even with poor credit, that would cost you less than a straight hard-money loan. Talk to them and be honest…they may be able to help you to not only aquire funding for your purchases, but to help your buyers when you are ready to sell your property. Funding is an extremely important part of REI, and the more tools you have at your disposal, the better off you’ll be.
Stacy
Re: “Mortgage Brokers” - Posted by Gerard J. Bonal
Posted by Gerard J. Bonal on March 20, 1999 at 16:11:59:
STACY-
(Q) IS THEIR ANY REI COMPANY THAT I CAN CONTACT TO FIND PEOPLE THAT NEED HARD MONEY ON LTV IN THE ALBUQUERQUE #87110 & SANTA FE #87501, N.M. AREA AND WHERE ???
(Q) AND WHERE DO I FIND A GOOD MORTGAGE BROKER- ANY SPECIFIC KIND ???
(Q) AND WHAT LOAN PROGRAM DO I USE THAT WOULD COST ME LESS THAN A HARD MONEY LOAN ???
(Q)AND- FIND BUYERS WHEN I’M READY TO SELL THE PROPERTY OR HOUSE OR FOR THAT MATTER COULD IT BE AN APARTMENT COMPLEX ???
(Q) AND WHAT KIND OF MORTGAGE BROKER WOULD I USE FOR AN APARTMENT COMPLEX OR FOR THAT MATTER COMMERCIAL PROPERTY ???
(Q) AND- DO I NEED A LAWYER- IF SO WHAT SPECIFIC TYPE???
GERARD J. BONAL
1-505-471-5332 (RMST)
bonal@roadrunner.com