Posted by Jim Habicht on 12/16/09 5:30pm
Msg #314673

Hard Money Loans now appearing more

I'm doing more hard money loans latley. I think it's becoming a trend. One borrower said to me that no bank would give her a loan, except for a hard money lender. Any one else seeing this trend?

Reply by Todd/OH on 12/16/09 10:44pm
Msg #314699

I've found this trend fairly common. I also find a knife stuck in the borrower's back.

Reply by JanetK_CA on 12/17/09 3:39am
Msg #314707

Yes. For a good while now.

The only people getting approved by the big banks are people with very high credit scores, incomes, etc. who don't really need the loan, but are smart enough to be taking advantage of the low interest rates. Thank goodness for them! There's a couple of private lenders around here who actually seem pretty good. Thank goodness for them, too!