Bad credit mortgage loans

The most common reasons to seek hard money are:

• Need a loan quick.
• Does not have tax returns proving all the income.
• Poor credit (but most hard money loans are arranged for borrowers with good credit).
• Unusual credit/income situation.
• Unusual property or property condition (e.g. unfinished construction).
• Cannot obtain a bank loan despite several attempts.

There are 7 vital steps to ensure the best and most optimum hard money loan. Skipping any of the steps may result in not being able to obtain the loan in timely manner or ending up paying more than was needed. These steps are detailed at the http://www.lendinguniverse.com . The second step involves searching for hard money investors - it is vital to search everywhere.

Since hard money loans are funded by private investors one should look for local hard money lenders by googling “hard money lender my city name” or “hard money lender my state name”. For loans of over $500,000 a borrower can also search general terms to get the nationwide lenders by googling “hard money lenders”, “private real estate loans.” It also advised to add property type. E.g. “commercial hard money loans” in case the property is commercial or “land hard money loans” etc.

Note: Exactly how to search and how to track the different lenders and offers is part of the sophisticated yet simple-to-use the free software that the website offers. Borrowers are able to track hundreds of offers, negotiate and compare it all from one single control center. Social security numbers are not needed for the initial request. The precise timing of when a borrower needs to provide confidential information is detailed on the website. Using it borrowers can avoid, or at least reduced, the pitfalls and anxieties normally associated with getting financing and thereby get the most optimum loan possible. In the past 10 years the website has provided software to help find and tack loan quotes by hundreds of lenders, brokers, private investors, and banks. Lendinguniverse.com is neither a lender nor a broker it is a lending portal and a market place for hard money loans. It does not endorsed any bank, lender, broker, private investor, or any other entity connected with arranging loans.

 Also see hard money solution in California