Hard Money plus declining real estate growth equal disaster

Sunday, July 26, 2009

Hard Money plus declining real estate growth equal disaster
With negative real estate growth and conventional lending getting tougher, real estate investors have turned to hard money loans. Hard money loans are typically easier to get but come with much higher interest rates. Hard-Money-Review.com has reported an increase in new applications. While it is easier to get a hard money loan, credit scores still need to be at 660 FICO or better. A hard money loan is not a less than perfect credit loan. Another consideration is the new Appraisal rules that have caused a backup in loan appraisals. For years real estate investors have profited from refinancing existing properties. I am seeing a flood of owner financing. While some real estate investors are hurting, new opportunities arise for new investors.

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