Posted by John on March 10, 2006 at 13:37:33:
I have done a very limited amount HML from time to time. I base the loan on the deal but like to see a credit report on someone I do not know just to get a feel of the type of person I am dealing with. A credit report shows the charactor of the person you are dealing with. HML in your area may be doing the same.
Need Hard Money Lender - Posted by Alvin
Posted by Alvin on March 10, 2006 at 02:14:27:
I want to know if any one knows of a Hard Money Lender in Columbus Oh that will fund deals secures by the properties and not by credit check.
Thanks. Alvin
Re: Need Hard Money Lender - Posted by Griffith
Posted by Griffith on March 10, 2006 at 09:41:20:
There are Hard Money Lenders in just about every state. Look in your newspaper under Money to Lend.
The main thing they are looking for is your LTV.
So, if you have a property you can buy for $70K that is worth $100K as-is, (70% LTV), than you can probably find a hard money lender.
Post your question in the Real Estate financing section of this board and also the National Mortgage News website has a grapevine section for posting requests for lenders.
Good luck.
Re: Need Hard Money Lender - Posted by Alvin
Posted by Alvin on March 10, 2006 at 10:51:45:
Thanks, Griffith for your help. They all seems to want to know my credit score in order to lend and not secure only by the properties.
Re: Need Hard Money Lender - Posted by Marc and Robin Ford
Posted by Marc and Robin Ford on March 23, 2006 at 22:50:55:
WE are interesteeed in buying rehab property and fixing it up and re-
selling it. we have a credit score of 611. we have done this on our on
financing 3 different times. Now wwe need a hard money lender to
help. we have located property in sherwood,Ar. aprraised at 110,000.
we can buy for 65,000. and needs 20,000 in repairs. thank you in
advance.
the Fords