Property & Real Estate Blog: Hard money and bridge loans for real …
Here is a new Post at Property & Real Estate Blog: Hard money and bridge loans for real ….
Hard money loan goes by the principles of mortgage; the distinguishing characteristics are the interest rate and the time consumed in approval. A loan application can take quite some time before getting through all the procedures and …
Here is a response on similar topic:-
Can I get a Hard Money loan & then Refinance Mortgage on a foreclosure property?
Yes you can get a hard money loan and refinance later but know this, hard money loans are expensive and if you do not structure the deal right you will run into loan seasoning issues with the bank at time of refinancing. So you will have to know who you are getting the money from. Hard money lenders charge as much as 16 points (MAX by Law) and sometimes collect 6 mo interest in advance added to the total you need so if you want to buy a property on foreclosure and end up having paid only 65% of market value you will have to offer about 50-52% of asking price to end up with some equity in the property so you will be able to refi without a problem. If you need more help with this send me an email and I help you set it up the right way so you don't get burned. (been there, done that)
FYI, here is a list of recently published Posts on same topic:-
"Private mortgage lending, Hard Money Loan, Rehab loans"
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I though that might be of interest 
Here is a news article on related topic:-
How to Buy Foreclosed Properties
However, the interest on this hard money loan could be as much as 25%. You won’t have to resign yourself to paying outrageous interest rates on your home …
